11-43 Decision-Making Biases
Obtain from your library a copy of the following article: D.Kahenman, D. Lovallo, and O. Sibony, "Before You Make That BigDecision..." Harvard Business Review competent, andwell-intentioned managers are fallible..." (p. 60). They discuss avariety of cognitive biases associated with the decision-makingprocess. Such biases can diminish the quality of decision. Theauthors maintain that understanding these biases can diminish thequality of decisions. The authors maintain that understanding thesebiases may decrease their effect and offer a checklist designed tofacilitate decision quality control.
REQUIRED:
1. What is meant by the term "cognitive bias"?
2/ What is the specific decision-making context addressed by theauthors of this article?
3. What are the three major categories of the decisionquality-control checklist recommended by the authors?
4. What are the specific cognitive biases discussed by theauthors of this article?
11-43 Decision-Making Biases
Obtain from your library a copy of the following article: D.Kahenman, D. Lovallo, and O. Sibony, "Before You Make That BigDecision..." Harvard Business Review competent, andwell-intentioned managers are fallible..." (p. 60). They discuss avariety of cognitive biases associated with the decision-makingprocess. Such biases can diminish the quality of decision. Theauthors maintain that understanding these biases can diminish thequality of decisions. The authors maintain that understanding thesebiases may decrease their effect and offer a checklist designed tofacilitate decision quality control.
REQUIRED:
1. What is meant by the term "cognitive bias"?
2/ What is the specific decision-making context addressed by theauthors of this article?
3. What are the three major categories of the decisionquality-control checklist recommended by the authors?
4. What are the specific cognitive biases discussed by theauthors of this article?
