Publication:
COGNITIVE BIAS IN DEFENSE FINANCIAL MANAGEMENT: A MARINE CORPS PERSPECTIVE

Loading...
Thumbnail Image
Authors
VanderPlas, Andrew D.
Watson, Michael W.
Subjects
cognitive bias
heuristics
decision-making
behavioral economics
financial management
resource management
DFM
Defense Financial Management
Advisors
Candreva, Philip J.
Date of Issue
2023-12
Date
Publisher
Monterey, CA; Naval Postgraduate School
Language
Abstract
Cognitive bias can diminish judgment and decision-making in resource management decisions. However, limited cognitive bias research has extended to these decisions in Defense Financial Management (DFM). We conducted a literature review and interviewed senior Marine Corps Financial Managers to examine how biases might affect resource management decisions. We identify some of the ways that cognitive biases can lead to the ineffective allocation of defense resources. We also conducted a literature review on cognitive bias mitigation practices and discuss ways to apply them in the DFM environment. Finally, we provide a practical exercise to expose decision-makers to cognitive bias in DFM by adapting existing cognitive bias exercises and questionnaires.
Type
Thesis
Description
Series/Report No
Department
Department of Defense Management (DDM)
Department of Defense Management (DDM)
Other Units
Identifiers
NPS Report Number
Sponsors
Funder
Format
Citation
Distribution Statement
Approved for public release. Distribution is unlimited.
Rights
This publication is a work of the U.S. Government as defined in Title 17, United States Code, Section 101. Copyright protection is not available for this work in the United States.
Collections