THE VALUE OF VOICE IN PARTICIPATIVE DECISION-MAKING

Relying on concepts found in prospect theory (D. Kahneman & A. Tversky , 1979), the value function of voice-based participation (i.e., the re lationship between the amount of voice received and the value attached to that quantity) was examined. In keeping with tenets of prospect th eory, the value function of voice exhibited a nonlinear pattern. Point s were identified in which voice displayed significant improvements an d diminishing marginal returns on response measures of process fairnes s, decision control, and outcome satisfaction. Task meaningfulness, a moderator of voice-based participation, did not change the general sha pe of the value function but did influence the intensity of participan t reactions at low and high levels of voice. Voice influence, a second moderator of voice-based participation, had minimal impact on partici pant responses.