Mental accounting (Week 10) Flashcards
What are the barriers to the communication process?
- Overweighing shared, common information
- Undervaluing/suppressing unique info & dissenting opinions
Leading to premature opinion convergence –> undermines decision quality
What is task conflict?
Disagreements among group members among task issues
How is task conflict related to information sharing?
+: Consideration of key info relevant to the task
-: Elicits negative affect, e.g. frustration
What is information sharing?
Sharing unique info relevant to the task
What are the types of task conflict expressions?
- Mild
- Intense
What are the characteristics of mild task conflict expression?
- Engage in debate about our diff. opinions/ideas
- Regularly express differing viewpts about the issues involved in our work
*INCREASE in positive emotions and info acquisition
What are the characteristics of intense task conflict expression?
- Often criticise each other’s viewpts about our work
- Frequently argue about what our output should look like
- Frequently clash about our objectives/goals
*DECREASE in positive emotions and info acquisition
How do conflict expressions relate to info sharing?
Debate expressions > Increase perceived receptivity
Disagreement expressions > Decrease perceived receptivity
Perceived receptivity: +vely related to info sharing
How does framing influence conflict in negotiation?
Negotiation opponents who describe their situations as LOSSES rather than gains INCREASE indiv’s perceptions that the opponents are COOPERATIVE
How does framing influence a situation involving conflicting interests?
Framing situation as an opportunity for ASKING QUESTIONS rather than for negotiation
INCREASES females’ initiation of conflict resolution
How does framing influence a social dilemma game?
Labelling as COMMUNITY GAME rather than wall street game
DECREASES competitiveness
What is the normative perspective of mental accounting?
Normative perspective:
- Expected Utility Theory: An emphasis on actual outcomes
- **Money is “fungible” (exchangeable; labels/accounts are irrelevant)
- **Ppl tend to maximise utility based on the goods they consume
What is the descriptive perspective of mental accounting?
Descriptive perspective:
- Prospect Theory: Framing & mental accounting
- **Labels/accounts influence how ppl feel about transactions & how ppl spend money (non-fungibility)
What are the two key aspects of mental accounts?
- Non-fungibility
2. Proportionality
What is the descriptive perspective of fairness & entitlements?
Descriptive perspective:
- Prospect Theory: Framing & mental accounting
- **Ppl want to feel like they are getting a fair deal
How do people perceive fairness in different situations?
1) Clear vs. No clear reference point
- Perceive greater unfairness vs, more acceptable
2) Framed as loss vs. foregone gain
- Perceive greater unfairness vs. more acceptable
How can you raise prices?
- Obscure reference price
2. Frame price increase as a FOREGONE GAIN
What are the habits of creative individuals?
- Moderately procrastinate to deal with the issue
2. Generate a lot of ideas, most of which are not original
How to recognise originals?
- Are late to the party
- Procrastination gives you time to generate ideas
- First movers vs improvers - Originals feel doubt & fear
What is the research goal of class exercise #2?
To examine predictors (intense & mild task conflict expressions) of indiv’s creative behaviour during a dyad interaction
What are the findings from class exercise #2?
INTENSE task conflict expressions were NOT SIG. associated with indiv’s creative behaviour
MILD task conflict expressions +VELY ASSOC. with indiv’s creative behaviour
What are the implications from class exercise #2?
To ELICIT another party’s creative behviour, indivs can rely on MILD task conflict expressions rather than intense conflict expressions
