This paper introduces TABASCO, an architecture for software agents aimed at integrating results from functional theories in emotion research and insights on the impact of the capacities and limitations of perception in a framework orientated along the situated "New AI"/ALife approach. This expository paper first briefly summarizes current views on the nature and function of emotion and then discusses related current appraisal theories in more detail. A survey of existing approaches to emotion synthesis is followed by a first outline of the TABASCO architecture, relating it to the areas of research in psychology, ALife and agent architectures.

This paper presents a field study of decision-making processes in management teams in two organizations. It reviews existing literature on managerial knowledge structures and decision-making, and identifies methodological and conceptual limitations with these approaches. The authors then develop interpretive case studies of two management teams, which focus on the articulated and social methods used to make decisions. They found that both organizations used rules of thumb or heuristic reasoning in their decision-making, that these rules of thumb functioned as headlines of deeper organizational narratives, and that these narratives were grounded in emotional as well as purely rational considerations. We suggest that the term “guiding principle ” usefully integrates our three findings into a descriptive concept that may be further explored in future research of both a descriptive and prescriptive nature.

This paper examines the concept of sensemaking and its application to management disciplines. The ideas of Karl Weick are discussed in terms of their contribution to these disciplines. Two contributions are identified- the validation of the ‘agent ’ and the impact of the adoption of the sensemaking construct on current research paradigms, theory, and methodology. The theme of the paper is that sensemaking, whose origin lies in constructivism, has been interpreted and applied within the social constructionist worldview. The consequence of this action is a heightening of epistemological discussion in the social and management sciences. 2 SENSEMAKING: TROJAN HORSE? PANDORA’S BOX?

We examine the relation between the trading volume of a stock, expressed as apercentage of shares outstanding, and aspects of the stock’s past price path. We find that volume is significantly higher (in both economic and statistical terms) in weeks when the current price exceeds the highest price attained in the prior year. The evidence is consistent with this highest prior price serving as a reference point used by investors in making trading decisions. The effect is robust to the inclusion of other factors known to affect volume. JEL Classification: C93 D70 D81 G10