Question

Which decision-making style looks at the big picture and makes long-term decisions?

Group of answer choices

Intuitive, high ambiguity

Rational, high ambiguity

Intuitive, low ambiguity

Rational, low ambiguity

Flag question: Question 15
Question 151 pts
15. Who proposed a model to describe decision making as it more often happens?

Group of answer choices

Herbert Simon

Steve Jobs

Stephen Covey

Lyndon Johnson

Flag question: Question 16
Question 161 pts
16. Using bounded rationality, when should a person complete the decision-making process and choose an option?

Group of answer choices

When a decision is found that is good enough to deal with the problem

When there is not enough time to evaluate options

When all parties agree on a decision

When all options have been evaluated

Flag question: Question 17
Question 171 pts
17. Which type of heuristic often leads to decisions being made based on something that happened recently?

Group of answer choices

Representative heuristic

Intuitive heuristic

Availability heuristic

Escalation of commitment

Flag question: Question 18
Question 181 pts
18. Which type of heuristic bases decisions on what is familiar?

Group of answer choices

Escalation of commitment

Availability heuristic

Representative heuristic

Intuitive heuristic

Flag question: Question 19
Question 191 pts
19. Which type of heuristic is often referred to as “throwing good money after bad”?

Group of answer choices

Availability heuristic

Escalation of commitment

Representative heuristic

Intuitive heuristic

Flag question: Question 20
Question 201 pts
20. Which bias causes decision makers to have an inflated sense of their performance and knowledge?

Group of answer choices

Overconfidence

The framing effect

Immediate gratification

Confirmation bias

Flag question: Question 21
Question 211 pts
21. Which bias causes you to believe you can influence events even if you have no control over them?

Group of answer choices

Overconfidence

The framing effect

Confirmation bias

The illusion of control

Flag question: Question 22
Question 221 pts
22. Which bias affects people who only accept information that confirms what they already believe?

Group of answer choices

The illusion of control

The framing effect

Confirmation bias

Immediate gratification

Flag question: Question 23
Question 231 pts
23. Which bias occurs when decision makers choose to focus only on certain aspects of a situation and ignore others?

Group of answer choices

Immediate gratification

The framing effect

Confirmation bias

The illusion of control

Flag question: Question 24
Question 241 pts
24. Which bias causes people to put more value on short-term gains over longer-term costs?

Group of answer choices

Immediate gratification

The framing effect

Confirmation bias

The illusion of control

Flag question: Question 25
Question 251 pts
25. How can you avoid decision-making errors?

Group of answer choices

All of the above

Admit when biases are present

Identify biases that may exist

Seek input from a variety of sources

Answer 1

1) Intuitive, high ambiguity

15) Herbert Simon

16) When a decision is found that is good enough to deal with the problem

17) Availability heuristic

18) Availability heuristic

19) Escalation of commitment

20) Overconfidence

21) The illusion of control

22) Confirmation bias

23) The framing effect

24) Immediate gratification

25) All of the above