Asked by MARIO MURILLO on Jun 15, 2024
Verified
When a problem is evaluated and resolved in the positive or negative context in which it is perceived, a(n) ___ occurs.
A) lack-of-participation error
B) escalation error
C) framing error
D) group decision error
E) satisficing error
Framing Error
A cognitive bias where people make decisions based on the way information is presented rather than just the facts themselves.
Lack-of-participation Error
A mistake or oversight that occurs when not all relevant parties are involved in a decision-making process, leading to potential biases or incomplete information.
Escalation Error
Escalation Error refers to the phenomenon where individuals or groups continue to invest in a decision despite new evidence suggesting it may be wrong, often due to sunk costs or ego.
- Identify different types of biases that can affect decision-making.
Verified Answer
Learning Objectives
- Identify different types of biases that can affect decision-making.
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