answersLogoWhite

0

when decision makers focus on initial information-such as first impressions, ideas, prices, and estimates-and then fail to adequately adjust for subsequent information

User Avatar

Wiki User

7y ago

What else can I help you with?

Related Questions

What does anchoring bias mean?

It is the tendency to rely too heavily one one piece of information, (anchoring on that one thing) when making a decision. All the other information is there, but it is not equally weighted in the decision making process.


How does diabetes affect decision making for older teachers?

If treated, Diabetes has no negative effect on decision-making, at any age.


How organizational culture affect managerial decision making?

how does culture effect managers


What is anchoring heuristic?

Anchoring heuristic is a cognitive bias where individuals rely heavily on the initial piece of information (the "anchor") when making decisions or judgments. This anchor can influence subsequent decisions, even if it is irrelevant or inaccurate. It can lead to errors in judgment and decision-making by skewing perceptions and estimates.


Do Communication between drivers has an effect on your decision making process?

Yes


What is on effect of using a decision making model?

not having to take responsibility for a bad decision. you can just blame an analyst for a bad assumption


What is one effect of using a decision-making model?

not having to take responsibility for a bad decision. you can just blame an analyst for a bad assumption


How does your beliefs effect decision making?

it can affect our decisions wether it is right or wrong because of that superstitious belief we can now rely in our daily decision.


Where does alcohol effect in the body first?

The judgment and decision-making centers (executive function) in the brain.


How does cause and effect thinking impact decision-making processes?

Cause and effect thinking impacts decision-making processes by helping individuals understand the potential outcomes of their choices. By considering the causes and effects of different options, people can make more informed decisions and anticipate the consequences of their actions. This analytical approach can lead to more thoughtful and strategic decision-making.


Qualitative factors in decision making?

considerations in decision making, in addition to the quantitative or financial factors highlighted by incremental analysis . They are the factors relevant to a decision that are difficult to measure in terms of money. Qualitative factors may include: (1) effect on employee morale, schedules and other internal elements; (2) relationships with and commitments to suppliers; (3) effect on present and future customers; and (4) long-term future effect on profitability. In some decision-making situations, qualitative aspects are more important than immediate financial benefit from a decision.


What is decision and decision making?

Decision making is the process by which a decision is made. Communicating, when it comes to decision making, is the way the information about that decision is distributed to ensure everyone is aware.