MGMT Paper-Bias and decision making MOD 4

Written assignment MUST be a minimum of 500 words. Font: Times New Roman, Spacing: before & after 0 point; Line spacing: multiple 1.15

For the five decision biases described, generate your own example where you were biased, you experienced bias, or you observed bias. 

• Framing: Deliberate presentation of a situation to impact your decision 

• Bias blind spot: Underestimating your own bias and overestimating the bias of others 

• Confirmation bias: Evaluate new information in order to confirm existing beliefs and decisions 

• Escalation of commitment: Once committed to a decision, difficult to change your mind because of the sunk costs with pursuing the decision 

• Hindsight bias: Remembering events as if we already predicted them