FASH 445 Lecture 30: HBR article- The hidden traps in decision making
20 Mar 2019
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Article name: hbr article: the hidden traps in decision making. Author: john s. hammond, ralph l. keeney, and howard raiffa. What are 5 interesting facts or take-aways that you gleaned from this article: the anchoring trap: anchors establish the terms on which the decision is made, skewing the results. Decision makers display a strong bias toward alternatives that perpetuate the status quo. You can try view the problem from different perspectives to bypass this issue: the status quo trap: the source of this trap lies within our psyche and desire to protect our egos from damage. Reminding yourself to stay objective is an easy way to combat this trap: the sunk cost trap: we tend to subconsciously decide what to do before figuring out why we want to do it.
