"Paradigms are the most general-rather like a philosophical or ideological framework. Theories are more specific, based on the paradigm and designed to describe what happens in one of the many realms of events encompassed by the paradigm. Models are even more specific providing the mechanisms by which events occur in a particular part of the theory’s realm. Of all three, models are most affected by empirical data - models come and go, theories only give way when evidence is overwhelmingly against them and paradigms stay put until a radically better idea comes along."
"Decision making is essentially social behaviour, even when there is nobody else present, because one anticipates how others will react and factors this into the decision. [...] Organizations per se do not make decisions, but individuals in organizations do. And when they do, they must take others into account."
"The Theory of Narrative Thought begins with the assumption that everyday thought is in the form of narratives, which are causally motivated, time-oriented chronicles, or stories, that connect the past and present with the future, thereby giving continuity and meaning to ongoing experience. Narratives are not simply the voice in your head, nor are they simply words, like a novel or a newspaper article. They are a rich mixture of memories and of current visual, auditory, and other aspects of awareness, all laced together by emotions to form a mixture that far surpasses mere words in their ability to capture context and meaning."
"[The behaviour of the decision maker reflects economics’ utilitarian paradigm] which means that they strive to acquire desirable pay offs and if their decisions processes correspond to the processes dictated by utility theory and probability theory. That is, decision-making in the sense of acquisition of desirable payoffs, will be most successful if the attractiveness of each option is summarised as the sum of the probability - discounted utilities corresponding to its potential pay offs and if the decision maker chooses the option which offers the greatest sum."
"The elements of narratives are symbols that stand for real or imagined events and actors, where the latter are animate beings or inanimate forces. The glue that binds the elements is causality and implied purpose. The narrative is a temporal arrangement of events that are purposefully caused by animate beings or are the result of inanimate forces. The narrative’s story line is the emergent meaning created by arranging the elements according to time, purpose, and causality. Just as arranging words into sentences creates emergent meaning that unarranged words do not have, and just as arranging sentences into larger units creates even more emergent meaning, arranging events, actors, time, purpose, and causality into a narrative creates the emergent meaning that is its story line or plot.A “good narrative” is coherent and plausible; coherent when effects can be accounted for by causes and plausible when the actions of its actors are consistent with their own or similar actors’ actions across contexts (i.e., across different narratives). We tend to believe that good narratives are valid."