Research Framework and Hypothesis Development: Investigating Cognitive Biases in Singaporean Workplace Decision-Making

Abstract

This paper shows the research framework and hypothesis development for a quantitative study on heuristics and biases in employee decision-making in Singaporean workplaces. The underlying theories used are the Bounded Rationality and Prospect Theories. This study addresses research gaps previously identified by a systematic literature review (Ohms, 2025i), particularly focusing on non-investment contexts and Singapore. The study identifies overconfidence, herding, and decision avoidance biases as the independent variables; information evaluation, searching information, and procrastination as the dependent variables; and time pressure and complexity as the moderating variables. These hypotheses establish a rigorous theoretical foundation for investigating the specified relationships, contributing to new knowledge in behavioural economics and organisational practice.