Decision making and business ethics: The implications of using image theory in preference to rational choice [Book Review]
David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Jack Alan Reynolds
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Journal of Business Ethics 50 (3):239-252 (2004)
The study of decision making has multiple implications for business ethics. This paper outlines some commonly used frameworks for understanding choice in business. It characterises the dominant model for business decision making as rational choice theory (RCT) and contrasts this with a more recent, naturalistic theory of decision-making, image theory. The implications of using RCT and image theory to model decision making are discussed with reference to three ethical systems. RCT is shown to be consistent with Utilitarian ethics, but not with Kantian or Virtue-based ethics. Image theory is shown to be consistent with each. The paper identifies a number of implications following from this analysis.
|Keywords||ethical decision making image theory rational choice|
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Kevin Morrell & Ian Clark (2010). Private Equity and the Public Good. Journal of Business Ethics 96 (2):249 - 263.
Kevin Morrell & Chanaka Jayawardhena (2010). Fair Trade, Ethical Decision Making and the Narrative of Gender Difference. Business Ethics 19 (4):393-407.
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