1) Discuss common biases in decision making.
2) Explain the roles of emotion and fairness in decision making.
3) 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:
1) Summarize the role of decision making in business.
2) Explain the roles of emotion and fairness in decision making.
3) Compare reflective and expedient decision making.
4) Discuss common biases in decision making.