Call for Papers - Cognitive Biases and Heuristics in the New Product Development Process: a Call for More Empirical Evidence

The New Product Development (NPD) process is a complex phenomenon involving decision-making under incomplete information and uncertain outcomes. Cognitive biases such as overconfidence, anchoring, planning fallacy, and sunk-cost fallacy can significantly impact decision-making in NPD processes, leading to suboptimal outcomes. Also, the reliance on heuristics can assist decision-makers, enabling quick and efficient decisions without extensive analysis. Identifying and mitigating cognitive biases and studying heuristics in the NPD process are key factors that can significantly impact the success of the NPD process. Further empirical research is necessary to better understand how cognitive biases and heuristics influence decision-making in the NPD process to foster a climate of innovation, favor the emergence of serendipity, and improve firm performance. Thus, authors are encouraged to submit original research papers (quantitative, qualitative, experimental), addressing missing empirical evidence on the topic of this call. Review papers are not encouraged for the present special issue.