Question 1

Describe the main difference between the bounded awareness of individuals and the bounded awareness of groups.

Accepted Answer

individuals' awareness is bounded by the information they mentally consider,whereas the awareness of groups is bounded by the information that becomes part of the discussion.

Question 2

Matching
-A team was in pursuit to sign a highly sought-after free agent.It gave the player the highest offer of all the teams,and ultimately signed him to a high-paying contract.The player did not live up to expectations during the subsequent season.

Accepted Answer

A) Change blindness 
B) The winner's curse 
C) Inattentional blindness 
D) Reference group neglect 
E) System neglect
F)focalism 
A) Change blindness 
B) The winner's curse 
C) Inattentional blindness 
D) Reference group neglect 
E) System neglect
F)focalism B

Question 3

The Slippery Slope theory explains why a single instance of unethical behavior can be justified.

Accepted Answer

A) True 
 B)False  False

Question 4

When people are asked to predict their emotional responses to a negative event,such as a job termination,they expect that their emotional reaction will last _________ than it turns out to.

Accepted Answer

The answer of When people are asked to predict their...

Question 5

A publisher wants to bid for the rights to publish a celebrity's memoir.The publisher would be better off to:

Accepted Answer

A) Bid higher than what they think the book is worth,to avoid the winner's curse. 
B) Bid lower than what they think the book is worth,to avoid the winner's curse. 
C) Enter the bid early,in order to reduce uncertainty. 
D) Enter the bid late,in order to reduce uncertainty. 
A) Bid higher than what they think the book is worth,to avoid the winner's curse. 
B) Bid lower than what they think the book is worth,to avoid the winner's curse. 
C) Enter the bid early,in order to reduce uncertainty. 
D) Enter the bid late,in order to reduce uncertainty.

Question 6

Matching
-The tendency to focus too much on a particular event and too little on other events that are likely to occur concurrently.

Accepted Answer

A) Change blindness 
B) The winner's curse 
C) Inattentional blindness 
D) Reference group neglect 
E) System neglect
F)focalism 
A) Change blindness 
B) The winner's curse 
C) Inattentional blindness 
D) Reference group neglect 
E) System neglect
F)focalism

Question 7

Matching
-Why it is easier to pass budget cuts in several incremental steps than in the form of one deep cut.

Accepted Answer

A) Change blindness 
B) The winner's curse 
C) Inattentional blindness 
D) Reference group neglect 
E) System neglect
F)focalism 
A) Change blindness 
B) The winner's curse 
C) Inattentional blindness 
D) Reference group neglect 
E) System neglect
F)focalism

Question 8

In creative problem solving,composing a group of people,each with unique knowledge and perspective,is usually enough to avoid the problems of bounded awareness.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following biases is most related to the Slippery Slope theory?

Accepted Answer

A) System neglect 
B) Reference group neglect 
C) Change blindness 
D) Inattentional blindness 
A) System neglect 
B) Reference group neglect 
C) Change blindness 
D) Inattentional blindness

Question 10

Entrepreneurs often fall prey to self-focus,which makes them too eager to enter _________ contests and too reluctant to enter ___________ competitions.

Accepted Answer

The answer of Entrepreneurs often fall prey to self-focus,which makes...

Question 11

What explanation does the book offer for the fact that two thirds of all corporate acquisitions fail to live up to the acquiring company's expectations?

Accepted Answer

competitive bidding

Question 12

Discuss the difference between bounded awareness and the availability heuristic.

Accepted Answer

the two concepts have different foci.Ava

Question 13

Groups have a tendency to focus on _________ information,at the expense of _____________ information.

Accepted Answer

The answer of Groups have a tendency to focus on...

Question 14

The most critical barrier to a creative decision is:

Accepted Answer

A) System 2 thinking. 
B) The failure to recognize subtle changes in the situation. 
C) The failure to assign appropriate weight to information that is not readily available. 
D) A narrow definition of the problem space. 
A) System 2 thinking. 
B) The failure to recognize subtle changes in the situation. 
C) The failure to assign appropriate weight to information that is not readily available. 
D) A narrow definition of the problem space.

Question 15

Discuss a strategy of overcoming bounded awareness of groups.

Accepted Answer

strategies to counter bounded awareness

Question 16

Face-to-face interaction in negotiations has been found to:

Accepted Answer

A) Help overcome the inefficient outcomes predicted by game theory. 
B) Enhance the rationality of players as predicted by game theory. 
C) Increase the attentional focus on shared information between the negotiating parties. 
D) Make negotiators more eager to reach agreement in simple negotiations and less eager to reach agreement in complex negotiations. 
A) Help overcome the inefficient outcomes predicted by game theory. 
B) Enhance the rationality of players as predicted by game theory. 
C) Increase the attentional focus on shared information between the negotiating parties. 
D) Make negotiators more eager to reach agreement in simple negotiations and less eager to reach agreement in complex negotiations.

Question 17

Matching
-A firm replaces the receptionist who sits at the front desk and 80% of employees do not even notice that it is a different person who greets them each morning.

Accepted Answer

A) Change blindness 
B) The winner's curse 
C) Inattentional blindness 
D) Reference group neglect 
E) System neglect
F)focalism 
A) Change blindness 
B) The winner's curse 
C) Inattentional blindness 
D) Reference group neglect 
E) System neglect
F)focalism

Question 18

When trying to generate an accurate probability assessment,why is it better to consider all possible outcomes to a problem than to consider each possible outcome separately?

Accepted Answer

because when we focus our atte

Question 19

An example of bounded awareness in negotiations is when negotiators:

Accepted Answer

A) Assume that what worked in one context will not work in another,even when the contexts are similar. 
B) Fail to consider the impact of their decisions on others outside the negotiation 
C) Fail to realize that a publicly known deadline affects them just as much as the other party,and think they are put at an asymmetric advantage. 
D) All of the above. 
A) Assume that what worked in one context will not work in another,even when the contexts are similar. 
B) Fail to consider the impact of their decisions on others outside the negotiation 
C) Fail to realize that a publicly known deadline affects them just as much as the other party,and think they are put at an asymmetric advantage. 
D) All of the above.

Question 20

Matching
-Japanese automakers started producing innovative new models in the 1980's and introducing them in the United States.General Motors did not see its market share is in danger,since it viewed itself as superior to the foreign manufacturers.Since then,until today,Japanese cars are regarded as the most reliable cars on the market.

Accepted Answer

A) Change blindness 
B) The winner's curse 
C) Inattentional blindness 
D) Reference group neglect 
E) System neglect
F)focalism 
A) Change blindness 
B) The winner's curse 
C) Inattentional blindness 
D) Reference group neglect 
E) System neglect
F)focalism

Describe the main difference between the bounded awareness of individuals and the bounded awareness of groups.

Matching -A team was in pursuit to sign a highly sought-after free agent.It gave the player the highest offer of all the teams,and ultimately signed him to a high-paying contract.The player did not live up to expectations during the subsequent season.

The Slippery Slope theory explains why a single instance of unethical behavior can be justified.

When people are asked to predict their emotional responses to a negative event,such as a job termination,they expect that their emotional reaction will last _________ than it turns out to.

A publisher wants to bid for the rights to publish a celebrity's memoir.The publisher would be better off to:

Matching -The tendency to focus too much on a particular event and too little on other events that are likely to occur concurrently.

Matching -Why it is easier to pass budget cuts in several incremental steps than in the form of one deep cut.

In creative problem solving,composing a group of people,each with unique knowledge and perspective,is usually enough to avoid the problems of bounded awareness.

Which of the following biases is most related to the Slippery Slope theory?

Entrepreneurs often fall prey to self-focus,which makes them too eager to enter _ contests and too reluctant to enter ___ competitions.

What explanation does the book offer for the fact that two thirds of all corporate acquisitions fail to live up to the acquiring company's expectations?

Discuss the difference between bounded awareness and the availability heuristic.

Groups have a tendency to focus on _ information,at the expense of _____ information.

The most critical barrier to a creative decision is:

Discuss a strategy of overcoming bounded awareness of groups.

Face-to-face interaction in negotiations has been found to:

Matching -A firm replaces the receptionist who sits at the front desk and 80% of employees do not even notice that it is a different person who greets them each morning.

When trying to generate an accurate probability assessment,why is it better to consider all possible outcomes to a problem than to consider each possible outcome separately?

An example of bounded awareness in negotiations is when negotiators:

Introduction to Managerial Decision Making

Overconfidence

Common Biases

Framing and the Reversal of Preferences

Motivational and Emotional Influences on Decision Making

The Escalation of Commitment

Fairness and Ethics in Decision Making

Common Investment Mistakes

Making Rational Decisions in Negotiations

Negotiator Cognition

Improving Decision Making

Filters

Exam 4: Bounded Awareness

Describe the main difference between the bounded awareness of individuals and the bounded awareness of groups.

Matching -A team was in pursuit to sign a highly sought-after free agent.It gave the player the highest offer of all the teams,and ultimately signed him to a high-paying contract.The player did not live up to expectations during the subsequent season.

The Slippery Slope theory explains why a single instance of unethical behavior can be justified.

When people are asked to predict their emotional responses to a negative event,such as a job termination,they expect that their emotional reaction will last _________ than it turns out to.

A publisher wants to bid for the rights to publish a celebrity's memoir.The publisher would be better off to:

Matching -The tendency to focus too much on a particular event and too little on other events that are likely to occur concurrently.

Matching -Why it is easier to pass budget cuts in several incremental steps than in the form of one deep cut.

In creative problem solving,composing a group of people,each with unique knowledge and perspective,is usually enough to avoid the problems of bounded awareness.

Which of the following biases is most related to the Slippery Slope theory?

Entrepreneurs often fall prey to self-focus,which makes them too eager to enter _________ contests and too reluctant to enter ___________ competitions.

What explanation does the book offer for the fact that two thirds of all corporate acquisitions fail to live up to the acquiring company's expectations?

Discuss the difference between bounded awareness and the availability heuristic.

Groups have a tendency to focus on _________ information,at the expense of _____________ information.

The most critical barrier to a creative decision is:

Discuss a strategy of overcoming bounded awareness of groups.

Face-to-face interaction in negotiations has been found to:

Matching -A firm replaces the receptionist who sits at the front desk and 80% of employees do not even notice that it is a different person who greets them each morning.

When trying to generate an accurate probability assessment,why is it better to consider all possible outcomes to a problem than to consider each possible outcome separately?

An example of bounded awareness in negotiations is when negotiators:

Introduction to Managerial Decision Making

Overconfidence

Common Biases

Framing and the Reversal of Preferences

Motivational and Emotional Influences on Decision Making

The Escalation of Commitment

Fairness and Ethics in Decision Making

Common Investment Mistakes

Making Rational Decisions in Negotiations

Negotiator Cognition

Improving Decision Making

Filters

Entrepreneurs often fall prey to self-focus,which makes them too eager to enter _ contests and too reluctant to enter ___ competitions.

Groups have a tendency to focus on _ information,at the expense of _____ information.