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.
