Exam 5: Problem Solving

Escalation of commitment is a source of judgment error in problem solving.

Brainwriting is superior to brainstorming as a process for generating the highest volume of creative ideas.

Your cousin Vicky remodelled an old beach house last year. Vicky put on a new roof and sealed the driveway. This year, she needs to upgrade the electrical wiring and replace most of the plumbing. When asked why she isn't selling the house instead of putting in more money to renovate it, Vicky replies, "I already put a lot of money into the place!" This statement is an example of the ________type of judgement error.

One trick for reframing a problem is to narrow it; that is, reframe the problem with a narrower frame of reference.

The prevailing assumptions, beliefs, and values that sustain current systems are known as

The frequency with which people belong to certain groups or categories is known as the ________ rate.

Most of us are not overconfident.

Base rates are linked to which judgment error?

Should managers rely on intuition in problem solving?

The hasty generalization fallacy is linked to which judgment bias?

Many managers have damaged their careers by implementing solutions they knew were incorrect but forged ahead even with this knowledge.

Some research suggests that brainstorming may be ineffective.

Salma asked Lillie, "How did you do in the final assessment?" Lillie responded, "I knew everything!" Salma said, "So you can expect a 100! That will be awesome!" Lillie thought for a moment and said, "Maybe not actually that much of everything. I would say 95 to 100." Lillie curbed Salma's judgment bias by using

Equifinality is a condition in which different initial conditions lead to similar effects.

Leaving a "just so" song on the radio versus searching for a better song illustrates bounded rationality.

Regarding ways to avoid problem solving biases, the term ________ is closely aligned with the term trial-and-error.

What is bounded rationality? Can you give an example of bounded rationality in play in a decision-making process?

___________ is a defense against judgment biases.

Explain the major ways in which people make judgment errors.

Identify ways to avoid problem-solving biases.