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Anchoring is a cognitive bias that describes the common human tendency to rely too heavily on the first piece of information offered (the "anchor'') when making decisions. During decision making, anchoring occurs when individuals use an initial piece of information to make subsequent judgments. This bias is the tendency to jump to conclusions.
How does a cost-benefit analysis contribute to selecting the best solution?
In a democratic decision-making style, the decision is based on inputs from _____
________ decision theory is concerned with how people actually make decision.
What do we call a course of action purposely chosen from a set of options to achieve organizational or managerial objectives or goals?
What is the first step in the decision-making process?
Which technique of decision-making involves generating multiple ideas in a group setting without criticism?
How does prioritizing criteria contribute to selecting the best solution?
Strategic decisions are _______
Which of the following is not a constraint(s) under Bounded rationality that lead to a satisficing decision?
Which of the following decision making technique involves the use of a ‘yes’ or ‘no’ solution to arrive at a decision?
