CHAPTER 7 DECISION MAKING AND CREATIVITY Describe the six stages in the rational choice decision process Decision making: the conscious process of making choices among alternatives with the intention of moving toward some desired state of affairs. Rational choice paradigm of decision making: the view in decision making that people should and typically do‚ use logic and all available information to choose the alternative with the highest value. Decision making involves identifying‚ selecting and
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exemplars Hierarchical organization: basic level‚ superordinate level‚ subordinate level categories Problem Solving (ill-defined v. well-defined problems) & problem solving strategies Heuristics (and examples: anchoring and adjustment‚ representativeness‚ and availability) Insight‚ decision making‚ and Framing Confirmation Bias‚ Belief Persistence Chapter 11: Instincts‚ Drives‚ Motivation‚ Emotion Homeostasis‚ Incentive Motivation‚ Achievement Motivation‚ Intrinsic Motivation Maslow’s Hierarchy
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Midterm Review GMS200 Chapter 1 1. What does the term Global Management mean?Global management is the management of operations in more than one country 2. Define Global Economy (See Text)In the global economy‚ resources‚ markets‚ and competition are worldwide in scope. It pretty much means how well all the countries are doing as one in terms of economy‚ resources‚ markets and competition. 3. In a competitive global business landscape‚ the increasing demand for talented knowledge workers is primarily
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Behavioral Finance Behavioral finance attempts to explain what‚ why‚ and how of finance and investing from a human perspective. More specifically‚ behavioral finance integrates psychology and economics into the study of human judgment and biases in decision making under conditions of uncertainty. (David‚ 2004) In order to clearly define and explain the origin of behavioral finance‚ it is important to first define finance‚ which is the foundation of behavioral finance. Finance is a field
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Causal reasoning in financial reporting and voluntary disclosure This paper examines causal reasoning‚ applying the theories to financial reporting. Causal reasoning involves diagnosis (determining the cause of an effect) and prediction (vice versa). These are important and commonplace amongst analysts‚ investors and management regarding company earnings and share prices. However‚ there is very little recent research employing causal reasoning theories to this field. Attribution theory describes
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for the job are now further cemented. Research shows that confirmation bias causes decision makers to “ignore or downplay the negative features” (McShane et al 2016) of their decision‚ in which Edward can be seen ignoring the signs of Tom’s immaturity and lack of stability- by him dropping out of his degree‚ working multiple short-term jobs and lack of financial planning leading to him running out of money. Decision makers under confirmation bias‚ do not realize their mistakes until they “receive very
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Sta. Maria‚ Zamboanga City‚ was established on July 1935. Fr. Moises Cuevas‚ the official priest in the Parish and Ms. Rose Ledesma‚ secretary of Fr. Moises. The Parish offers various services like Wedding ceremony‚ Baptismal‚ Pamisa‚ Confession‚ Confirmation and Funeral mass. Schedules of masses are posted in their bulletin by the secretary. These are the problems that the researchers encounter: the parish is only using cannonical books in recording data. Other information in the cannonical book
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1. To ensure that other researchers can repeat their work‚ psychologists use A) control groups. B) random assignment. C) double-blind procedures. D) operational definitions. 2. Well-done surveys measure attitudes in a representative subset‚ or ________‚ of an entire group‚ or ________. A) population; random sample B) control group; experimental group C) experimental group; control group D) random sample; population 3. If shoe size and IQ are negatively correlated‚ which
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Definition: clear moment of a memory of event Page #: 201 Deja’ Vu Definition: eerie sense of experiencing a sensation before Page #: 211 Ebbinghaus Forgetting Curve Definition: Page #: 207 Algorithm Definition: Page #: Heuristics Definition: Page #: Confirmation Bias Definition: Page #: Overconfidence Definition: Page #: Language Definition: Page #: Noam Chomsky/ Universal Grammar Definition: Page #: Motivation Definition: Page #: Arousal Theory Definition: Page #: Maslow’s
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During the 1st 2 weeks after conception‚ a new life is called a(n): A. egg. B. fetus. C. zygote. D. embryo. Answer Key: D Question 2 of 53 Score: 1 (of possible 1 point) The vibrations of the eardrum are amplified by three tiny bones located in the: A. semicircular canals. B. cochlea. C. middle ear. D. inner ear. Answer Key: C Question 3 of 53 Score: 1 (of possible 1 point) Avoiding physical punishment is to ________ morality as respecting the laws of society is to ________
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