BU288 Lecture Notes - Lecture 11: Decision-Making, Groupthink, Confirmation Bias
Document Summary
Decision making: the process of developing a commitment to some course of action. Importance of gathering all relevant data: perceptions bias the use of information, quantitative calculations are only as solid as the data that are used in making them (garbage. Decision biases/problems: overconfidence: sometimes we go into a decision with too much confidence that we are right in our decision which causes us to overlook important information which might lead to a different decision. Nasa: one key decision context was the fact that they had no previous incidents so they were very confident it was a safe vehicle for space travel. Carter racing: racing is a risky proposition which causes us to overlook key information: confirmation bias: tendency to search for and interpret and prioritize information in such a way that confirms our beliefs and biases. Biased search for info: we look for information that confirms our original beliefs and ignore the other facts that don"t support their position.
