Description
We learn in this module about some of the most common decision-making biases that get in the way when we try to optimize the outcomes of our decisions. Think of a time when you were a victim of one or more biases. What was the outcome? How might you bring about a different outcome if a similar experience occurred today? Support your comments by discussing one or more examples from the contemporary environment that parallel your experience. Cite at least one example from popular media (newspaper, radio, television, internet, or podcast, for example).
Required
- Chapters 4 & 5 in Fundamentals of Management
Recommended
- Altendorfer, K., Felberbauer, T., & Jodlbauer, H. (2016). Effects of forecast errors on optimal utilisation in aggregate production planning with stochastic customer demand. International Journal of Production Research, 1-18.
- Duska, R. (2017). Unethical behavioral finance: Why good people do bad things. Journal of Financial Service Professionals, 71(1), 25-28.
- Jones, & Sharpe. (2017). Cognitive bias modification: A review of meta-analyses. Journal of Affective Disorders, 223, 175-183.
Explanation & Answer
Attached.
Running head: DECISION MAKING BIASES
1
Decision-Making Biases
Student’s Name
Institution Affiliation
Date
DECISION-MAKING BIASES
2
It is a common factor for certain perceptions that close our mind easily to affect the
quality of our decision making and reasoning. Such biasness can be painted by our life
experience or from the general presentation of the life we are living in which at times blinds as
not to employ reasoning. Such kind of biasness happened to me in the l...
Review
Review
24/7 Homework Help
Stuck on a homework question? Our verified tutors can answer all questions, from basic math to advanced rocket science!
Similar Content
Related Tags
Twelve Years A Slave
by Solomon Northrup
Frankenstein
by Mary Shelley
The Odyssey
by Homer
Cant Hurt Me - Master Your Mind and Defy the Odds
by David Goggins
Night
by Elie Wiesel
The Outsiders
by S.E. Hinton
Murder on the Orient Express
by Agatha Christie
The Goldfinch
by Donna Tartt
The Metamorphosis
by Franz Kafka