Abstract

Recent work in judgment and decisionmaking has stressed that institutions, like individuals, often rely on decisionmaking heuristics. But most of the institutional decisionmaking heuristics studied to date are highly firm- and industry-specific. This contrasts to the individual case, in which many heuristics are general-purpose rules suitable for a wide range of decision problems. Are there also general-purpose heuristics for institutional decisionmaking? In this paper, I argue that a number of methods recently developed for decisionmaking under deep uncertainty have a good claim to be understood as general-purpose decisionmaking heuristics suitable for a broad range of institutional decision problems.