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1. A person's background and experience. We bring our emotional baggage to everything we do, despite how much we may fight it. Examples are many, but
if my parents were democrat, chances are I will be decide to be democrat, unless of course, something in history swayed me deeply. In which case, one's background still
has a huge effect on decision making.
2. A person's motivation. In other words, am i doing this for love, money, family, personal fulfillment, etc. If I am motivated purely by money, chances are I will do barely enough to to earn the money. If I am doing it for family, chances are I will be more motivated to succeed and it will effect how much time and effort I put into it.
3. Potential outcomes. The more dire the potential outcome, the more likely I will think it through and be more likely to calculate the pros and cons.
What else can I help you with?
What is the name of Errors caused by bias and that do not cancel out?
Cognitive biases was the name of errors that was not canceled out. The list of the cognitive biases are decision making, social, memory error, common and notes.
What is the problem of the criterion and how does it impact decision-making processes?
The problem of the criterion refers to the challenge of determining the best criteria to use when making decisions. This can impact decision-making processes by making it difficult to choose the most appropriate criteria, leading to potential biases or errors in decision-making.
Strength and weaknesses of group Decision making?
discuss some strengths and weaknesses of group decision-making
Could there be any advantages to having biases?
Having biases can provide quick mental shortcuts in decision-making and help us navigate complex situations more efficiently. However, it's important to recognize our biases and actively work to mitigate their negative impacts to ensure fair and unbiased decision-making.
What is the difference between a fallacy and a bias in reasoning and decision-making?
A fallacy is a flaw in reasoning that leads to an incorrect conclusion, while bias is a tendency to lean towards a particular perspective or belief, influencing decision-making. Fallacies are errors in logic, while biases are influenced by personal beliefs or experiences.
What is the difference between making a decision with prejudice and making a decision without prejudice?
Making a decision with prejudice means having preconceived notions or biases that influence your judgment. Making a decision without prejudice means being impartial and making a judgment based on facts and evidence, without bias.
Compare and contrast the three decision - making method?
The three decision-making methods differ in their approach and speed. Rational decision-making involves evaluating alternatives based on logic and rationality. Intuitive decision-making relies on gut feelings and past experiences. Behavioral decision-making considers cognitive biases and emotions in the decision-making process.
What is the meaning of perception errors?
Perception errors are mistakes or inaccuracies in the way we interpret or understand sensory information. These errors can be influenced by factors such as personal biases, previous experiences, and cognitive limitations, leading to misunderstandings or misinterpretations of the world around us. They can impact our decision-making and interactions with others.
What is the importance of having a clear and distinct perception in decision-making processes?
Having a clear and distinct perception in decision-making is important because it helps individuals make informed choices based on accurate information and understanding. This clarity allows for better analysis of options, reduces the risk of errors or biases, and ultimately leads to more effective and successful decision outcomes.
Discuss the importance of measuring variability for managerial decisions?
discuss the importance of measuring variability for managerial decision making
What is presumptive thought?
Presumptive thought involves making a judgment or forming an opinion without having all the relevant information or evidence. It is based on assumptions rather than facts or conclusive evidence. Presumptive thoughts can lead to biases and errors in decision-making.
What is unconscious distortions of perception of reality are called?
Unconscious distortions of perception of reality are often referred to as cognitive biases. These biases can impact our decision-making and how we interpret information, leading to errors in judgment or understanding of a situation. Common examples include confirmation bias and availability heuristic.
