chapter 8 Flashcards
1
Q
Bounded Rationality
A
Idea that for complex issues you can’t be completely rational because you can’t grasp all alternatives (brain doesn’t know everything)
Escalation of commitment- tendency of decision makers to remain committed to poor decisions
Similar to me bias- we like those who are like us
Confirmation bias- we are keen on info that aligns with our beliefs
2
Q
A
