MGMT Paper-Bias And Decision Making MOD 4

Written assignment MUST be a minimum of 500 words. Font: Times New Roman, Spacing: before & after 0 point; Line spacing: multiple 1.15

 

For the five decision biases described, generate your own example where you were biased, you experienced bias, or you observed bias.

• Framing: Deliberate presentation of a situation to impact your decision

• Bias blind spot: Underestimating your own bias and overestimating the bias of others

• Confirmation bias: Evaluate new information in order to confirm existing beliefs and decisions

• Escalation of commitment: Once committed to a decision, difficult to change your mind because of the sunk costs with pursuing the decision

• Hindsight bias: Remembering events as if we already predicted them