COMM 151 Lecture Notes - Lecture 7: Kingston, Ontario, Bloomberg Businessweek, Herd Mentality
Document Summary
Take advantage of our mindlessness by putting on shows that are meant to reassure us that what they are doing is good. Bounded rationality: we intend to be completely logical but we are limited in our ability to process information-these is just too much to know and too little time to process it all. Information asymmetry: information is unequally distrusted-some people know more about some things than do others. We sometimes operate under conditions of bounded rationality and information asymmetry. Our susceptibly to falling for the tricks of impression managers depend upon. A theory of impression management: motive and opportunity. Impression management happens when acts have both he motive and opportunity to manage our impressions of them. Actors (individuals, groups, organizations, nations) often have motives to be possibly evaluated (liked. It is hard for outsiders to assess the quality of something when outsiders don"t have direct experience with it/don"t know much about it (information asymmetry)
