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Biases in Decision Making
- Discuss common biases in decision making.- Explain the roles of emotion and fairness in decision making.- Compare reflective and expedient decision making.
focus on a decision and evaluate the decision you made using any two of the following biases: availability, heuristic, bias related to the representative heuristic, bias related to anchoring or adjustment, uncertainty avoidance, framing effects, positive illusions, egocentrism, and regret avoidance.- Do you feel that the decision would have been different had the two biases you chose, not existed?
Objective:- Summarize the role of decision making in business.- Explain the roles of emotion and fairness in decision making.- Compare reflective and expedient decision making.- Discuss common biases in decision making.
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