ADMS 2400 Lecture Notes - Lecture 9: Representativeness Heuristic, Confirmation Bias, Group Conflict

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Individual vs group dm: complex problem, multiple prespectives. Disord wasted time group conflict group think intidimation by others. Degree of risk involved in making the decision. Past history: top down vs empowered decisions are made top down . (empowered) pushing down the decision making activity to the lower level. Decision-makers consider all possible alternatives before deciding: humans are emotional, don"t have all the choices available. Bases in decision-making: framing the tendency for people to make decisions based on how peoblem is presented. (+) framing: makes decision makers avoid risk (-) makes decision makers take more risk. The tendency to support previously unsuccessful courses of action. sunk cost(business term)/time/money throws good money after bad pride ego save face: would lose too much by backing out. Methods for improving decision-making training eg. mngs/group leaders nominal group technique eg. individual + group decision-making: delphi technique eg. based on questionnaires sent to experts.

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