The work focuses on the evaluation of family firms, from the owner's perspective. Using the Ego Biased Learning Approach (EBLA) it improves the knowledge of the emotional components of value of family firms and, in general, it helps understanding how biased decisions can change the aggregate value and acts as a support of valuation of privately held family business. The approach used is that of decision making simulation, employing cognitive agents. The experimental result shows that when the decision makers are a few, as in the case of family businesses, the overall effect of distorted perception can change the aggregate payoff.
The ego biased learning approach (ebla) applied to family firms: a support for the valuation of business
MIGLIETTA, NICOLA;SCHIESARI, Roberto;REMONDINO, Marco
2011-01-01
Abstract
The work focuses on the evaluation of family firms, from the owner's perspective. Using the Ego Biased Learning Approach (EBLA) it improves the knowledge of the emotional components of value of family firms and, in general, it helps understanding how biased decisions can change the aggregate value and acts as a support of valuation of privately held family business. The approach used is that of decision making simulation, employing cognitive agents. The experimental result shows that when the decision makers are a few, as in the case of family businesses, the overall effect of distorted perception can change the aggregate payoff.
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