Question 1

The availability heuristic is based on similarity judgments.

Accepted Answer

A) True 
 B)False

Question 2

According to your readings, unbiased decision making is impossible when and are biased.

Accepted Answer

A) perception and attention 
B) motivation and learning 
C) attention and learning 
D) attention and memory 
E) memory and motivation 
A) perception and attention 
B) motivation and learning 
C) attention and learning 
D) attention and memory 
E) memory and motivation

Question 3

Kelly is interviewing candidates for a job in her department.She meets Bill.Bill mentions that he is from California. The last person Kelly hired from California had to be fired.Kelly infers that Bill probably won't make a good employee.Kelly is falling victim to what effect?

Accepted Answer

A) A contrast effect 
B) The simulation heuristic 
C) The correspondence bias 
D) An irrelevant analogy 
E) Sensitivity to sample size effect 
A) A contrast effect 
B) The simulation heuristic 
C) The correspondence bias 
D) An irrelevant analogy 
E) Sensitivity to sample size effect

Question 4

Which of the following heuristics involve judgments based on memory?

Accepted Answer

A) The representativeness heuristic 
B) The availability heuristic 
C) The simulation heuristic 
D) The anchoring-and-adjustment heuristic 
E) The correspondence bias 
A) The representativeness heuristic 
B) The availability heuristic 
C) The simulation heuristic 
D) The anchoring-and-adjustment heuristic 
E) The correspondence bias

Question 5

What are the most common types of context effects?

Accepted Answer

The most common type

Question 6

Focusing only on one possibility and ignoring other possibilities is known as the common knowledge effect.

Accepted Answer

A) True 
 B)False

Question 7

Basing predictions on memory usually leads to very accurate predictions.

Accepted Answer

A) True 
 B)False

Question 8

Executives are usually not susceptible to judgmental biases.

Accepted Answer

A) True 
 B)False

Question 9

After approving a $100,000 expenditure for a new piece of capital equipment, deciding to spend $10,000 on a print advertisement seems inconsequential.This is an example of what type of effect?

Accepted Answer

A) Biased assimilation effect 
B) Framing effect 
C) Correspondence bias effect 
D) Contrast effect 
E) Availability heuristic 
A) Biased assimilation effect 
B) Framing effect 
C) Correspondence bias effect 
D) Contrast effect 
E) Availability heuristic

Question 10

Discuss the effects that ofteu influence group decision making.

Accepted Answer

Common Knowledge Effect -
Managers often

Question 11

Discuss the conditions that influence whether or not information is "vivid"for a manager engaging in decision making.

Accepted Answer

Vivid information is emotionally interes

Question 12

Which of the following is not a bias based on overprocessing?

Accepted Answer

A) The dilution effect 
B) The perseverance effect 
C) The correspondence bias 
D) Premature cognitive commitment 
E) All of the above are based on overprocessing. 
A) The dilution effect 
B) The perseverance effect 
C) The correspondence bias 
D) Premature cognitive commitment 
E) All of the above are based on overprocessing.

Question 13

After launching several new product failures, Bill believes he is "due"for a success.Bill is experiencing the gambler's fallacy.

Accepted Answer

A) True 
 B)False

Question 14

When people that we meet remind us of old acquaintances because their mannerisms are similar, we often infer that these two people are likely to possess other similar characteristics.

Accepted Answer

A) True 
 B)False

Question 15

A is a shift in judgment away from a contextual reference point.

Accepted Answer

A) assimilation effect 
B) framing effect 
C) accommodation effect 
D) contrast effect 
E) availability heuristic 
A) assimilation effect 
B) framing effect 
C) accommodation effect 
D) contrast effect 
E) availability heuristic

Question 16

When losses loom larger than gains, people have loss aversion.

Accepted Answer

A) True 
 B)False

Question 17

is the tendency to focus on one possibility at a time and ignore other possibilities.

Accepted Answer

A) Groupthink 
B) Correspondence bias 
C) Pseudodiagnosticity effect 
D) Assimilation effect 
E) Selective hypothesis testing 
A) Groupthink 
B) Correspondence bias 
C) Pseudodiagnosticity effect 
D) Assimilation effect 
E) Selective hypothesis testing

Question 18

According to the contrast effect, when outcomes are framed in terms of gains, people are risk-averse.

Accepted Answer

A) True 
 B)False

Question 19

Managers tend to focus most on information relevant to a decision, except that which is:

Accepted Answer

A) interesting 
B) complex 
C) easy to understand 
D) attention drawing 
E) well-written 
A) interesting 
B) complex 
C) easy to understand 
D) attention drawing 
E) well-written

Question 20

The assimilation effect occurs when very different objects or issues are compared and judgments of the target object is displaced away from the reference point.

Accepted Answer

A) True 
 B)False

The availability heuristic is based on similarity judgments.

According to your readings, unbiased decision making is impossible when and are biased.

Kelly is interviewing candidates for a job in her department.She meets Bill.Bill mentions that he is from California. The last person Kelly hired from California had to be fired.Kelly infers that Bill probably won't make a good employee.Kelly is falling victim to what effect?

Which of the following heuristics involve judgments based on memory?

What are the most common types of context effects?

Focusing only on one possibility and ignoring other possibilities is known as the common knowledge effect.

Basing predictions on memory usually leads to very accurate predictions.

Executives are usually not susceptible to judgmental biases.

After approving a $100,000 expenditure for a new piece of capital equipment, deciding to spend $10,000 on a print advertisement seems inconsequential.This is an example of what type of effect?

Discuss the effects that ofteu influence group decision making.

Discuss the conditions that influence whether or not information is "vivid"for a manager engaging in decision making.

Which of the following is not a bias based on overprocessing?

After launching several new product failures, Bill believes he is "due"for a success.Bill is experiencing the gambler's fallacy.

When people that we meet remind us of old acquaintances because their mannerisms are similar, we often infer that these two people are likely to possess other similar characteristics.

A is a shift in judgment away from a contextual reference point.

When losses loom larger than gains, people have loss aversion.

is the tendency to focus on one possibility at a time and ignore other possibilities.

According to the contrast effect, when outcomes are framed in terms of gains, people are risk-averse.

Managers tend to focus most on information relevant to a decision, except that which is:

The assimilation effect occurs when very different objects or issues are compared and judgments of the target object is displaced away from the reference point.

Understanding Consumer Behavior and Consumer Research

Consumer Focused Strategy: Segmentation and Positioning

Branding Strategy and Consumer Behavior

Consumer Perception

Learning and Memory

Automatic Information Processing

Motivation and Emotion

Attitude and Judgment Formation and Change

The Consumer Decision Making Process

Product Consideration, Evaluation, and Choice

Behavioral Decision Theory

Self-Concept and Personality

Social Influence and Behavioral Compliance

The Influence of Culture and Values

The Influence of Demography

Contemporary Strategies in Reaching Consumers

Engaging Consumers Through Online Marketing

Strategies for Improving Managerial Decision Making

Filters

Exam 18: Biases in Managerial Decision Making

The availability heuristic is based on similarity judgments.

According to your readings, unbiased decision making is impossible when and are biased.

Kelly is interviewing candidates for a job in her department.She meets Bill.Bill mentions that he is from California. The last person Kelly hired from California had to be fired.Kelly infers that Bill probably won't make a good employee.Kelly is falling victim to what effect?

Which of the following heuristics involve judgments based on memory?

What are the most common types of context effects?

Focusing only on one possibility and ignoring other possibilities is known as the common knowledge effect.

Basing predictions on memory usually leads to very accurate predictions.

Executives are usually not susceptible to judgmental biases.

After approving a $100,000 expenditure for a new piece of capital equipment, deciding to spend $10,000 on a print advertisement seems inconsequential.This is an example of what type of effect?

Discuss the effects that ofteu influence group decision making.

Discuss the conditions that influence whether or not information is "vivid"for a manager engaging in decision making.

Which of the following is not a bias based on overprocessing?

After launching several new product failures, Bill believes he is "due"for a success.Bill is experiencing the gambler's fallacy.

When people that we meet remind us of old acquaintances because their mannerisms are similar, we often infer that these two people are likely to possess other similar characteristics.

A is a shift in judgment away from a contextual reference point.

When losses loom larger than gains, people have loss aversion.

is the tendency to focus on one possibility at a time and ignore other possibilities.

According to the contrast effect, when outcomes are framed in terms of gains, people are risk-averse.

Managers tend to focus most on information relevant to a decision, except that which is:

The assimilation effect occurs when very different objects or issues are compared and judgments of the target object is displaced away from the reference point.

Understanding Consumer Behavior and Consumer Research

Consumer Focused Strategy: Segmentation and Positioning

Branding Strategy and Consumer Behavior

Consumer Perception

Learning and Memory

Automatic Information Processing

Motivation and Emotion

Attitude and Judgment Formation and Change

The Consumer Decision Making Process

Product Consideration, Evaluation, and Choice

Behavioral Decision Theory

Self-Concept and Personality

Social Influence and Behavioral Compliance

The Influence of Culture and Values

The Influence of Demography

Contemporary Strategies in Reaching Consumers

Engaging Consumers Through Online Marketing

Strategies for Improving Managerial Decision Making

Filters