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How does behavioral economics drive our decisions

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How does behavioral economics drive our decisions?

Keep in mind the following Chapter 4 concepts:

  • Overprecision examines the tendency to be too sure of our judgements.
  • Overestimation examines the tendency to think we are smarter, better, or more attractive than we actually may be.
  • Overplacement is the tendency to falsely think we rank higher than other certain dimensions-particularly in competitive environments.

How do heuristics, behavioral economics and knowledge drive our decisions?

How can we employ successful managerial decisions; knowing we are inherently subject to error, perception and fallacy in our decision making.

Reference no: EM132867949

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