Multiple Choice
A manager decided to continue to purchase insurance from a company that charged high premiums,even though the manager knew that he or she could get the same coverage for less.This is an example of what type of cognitive bias?
A) Systematic errors
B) Representative bias
C) Escalating commitment
D) Illusion of control and overconfidence bias
E) Prior hypothesis bias
Correct Answer:
Verified
Correct Answer:
Verified
Q67: Decision making involves analyzing options and making
Q68: An ethical decision is a decision that
Q69: Managers who have a moderate commitment to
Q70: A cognitive bias resulting from the tendency
Q71: A representative bias occurs when decision makers
Q73: A manager decided to continue to purchase
Q74: Managers who are rational in their way
Q75: Managers sometimes make poor decisions because of
Q76: Compare an analytic decision-making style with a
Q77: Describe what is meant by the "clustering