How can decision makers guard against their decisions

Assignment Help Management Theories

Reference no: EM133359572

Question: Chapter begins with a discussion of how strong emotional/psychological situations (sexual arousal, anger, etc.) can have dramatic impact on the decisions we make (and presumably on the quality of decisions we make). We all know that managers and executives need to function in high stress, high stakes environments where emotions can run high. How can decision makers guard against their decisions being affected by arousal, anger, and other emotions? Are there ever situations where a manager should allow emotions to rule?

The rest of the chapter gives a very quick introduction to some aspects of behavioral economics (the branch of economics, influenced by psychology and neuroscience in which we consider that the rational choice model may not describe all decision making). Choose a situation that Motyl describes here (or another similar one that you are aware of) and describe and give an example of how this heuristic or cognitive bias impacts decisions.

Motyl, P. (2019). Labyrinth: the art of decision making.

Reference no: EM133359572

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