MGT 315 Lecture Notes - Lecture 14: Centrality, Best Alternative To A Negotiated Agreement, Selective Perception
Document Summary
Normative assumption vs. bound rationality: there is one correct answer but we often lack time, info, motivation, etc. Program vs. non-programmed decisions: program you just know how to do it, it is common sense for you. Prone to decision making errors: availability bias is info that is more easily recalled so we are bias towards it. Self-serving bias is we blame the situation for our failures and if we have success we think it was all because of us. Escalation of commitment is continuing to do something even when you know it is not the best idea like a building that ends up costing more and taking longer to build then you originally thought. Making attributions based on behavior: consistency, distinctiveness, consensus is what you base the behavior on. Distinctiveness are you doing the behavior at all places or just one. Consensus is if everyone else is doing the same thing as you or if it is just you.
