Chapter 6 Flashcards
Perception
process by which individuals organize and interpret their sensory impressions in order to give meaning to their environment.
Factors that Influence Perception
Perceiver
Target
Situation
Fundamental Attribution Error
underestimating the influence of external factors and overestimating the influence of internal or personal factors
Three Constructs of Decision Making
- rational decision making
- bounded reationality
- intuition
Rational decision making model
- Define the problem
- identify the decision criteria
- allocate weights to the criteria
- develop the alternatives
- evaluate the alternatives
- select the best alternatives
bounded rationality
construction of simplified models that extract the essential features from problems without capturing the complexity
intuition
least rational way
unconscious process created from distilled experience.
Anchoring Bias
tendency to fixate on initial information and fail to adequately adjust for subsequent information.
Conformation Bias
seeking out information that reaafirms our past choises, and we discount information that contradicts that
availability bias
tendency to base judgements on information readily available
escalation of committment
staying with a decision even when there is clear evidence that its wrong
randomness error
tendency to believe we can predict the outcome of random events
risk aversion
tendency to prefer a sure thing over a risky outcome
hindsight bias
tendency to believe falsely, after the outcome is known, that we’d have accurately predicted it
three ethical decision criteria
utli
fundamental rights
impose rules fairly to ensure justice
