HROB 2100 Study Guide - Midterm Guide: Social Learning Theory, Profit Sharing, Social Cognitive Theory

• School: University of Guelph
• Department: Human Resources and Organizational Behaviour
• Course: HROB 2100
• Professor: Saad Hossain

Document Summary

Steps in the rational decision-making model: define the problem. Identify the criteria: allocate weights to the criteria, develop alternatives, evaluate the alternatives, select the best alternative. Overconfidence bias: believing too much in our own ability to make good decisions, especially outside our own expertise. Trying to show a plumber how to do his job. Anchoring bias: using early, first received information as the basis for making subsequent judgments. Well dressed to an interview, so we perceive them as a good worker. Confirmation bias: selecting and using only facts that support our decision. Only showing your evidence/side of the story. Availability bias: emphasizing information that is most readily at hand. Escalation of commitment: increasing commitment to a decision in spite of evidence that it is wrong- especially if responsible for the decision. Randomness error: creating meaning out of random events- superstitions. Risk aversion: tendency to prefer a sure thing over a risky outcome.