Cognitive Biases and Decision Making: Economic Approach vs. OB/ Psychological Approach, Quizzes of Human Resource Management

Download Cognitive Biases and Decision Making: Economic Approach vs. OB/ Psychological Approach and more Quizzes Human Resource Management in PDF only on Docsity! TERM 1 Economic Approach DEFINITION 1 Normative Assumptions-Evaluate the alternatives, choose the best one-There should be a clear "right" answer TERM 2 OB/ Psychological Approach DEFINITION 2 Bounded Rationality-The notion that decision makers do not have all the availability or resources to process all available information and alternatives to make optimal decisions TERM 3 Programmed Decision Making DEFINITION 3 Automatic response-less thought out process-Largely based on experience & intuition TERM 4 Non-Programmed Decision Making DEFINITION 4 Result of new, complex situations-Problem needs to be solved-Should rely on rational decision making TERM 5 Selective Perceptions DEFINITION 5 Our Frame of reference biases how we see things TERM 6 Projection Bias DEFINITION 6 Assumes everyone else thinks, feels, and believes the same things we do, and assuming our way of thinking won't change over time TERM 7 Fundamental Attribution Error DEFINITION 7 Blame the person, not the situation TERM 8 Self-Serving Bias DEFINITION 8 Blame the situation, not ourselves TERM 9 Internal Attribution DEFINITION 9 High Consistency, low distinctiveness, low consensus TERM 10 External Attribution DEFINITION 10 Low consistency, high distinctiveness, high consensus