Apply the three heuristics to the decision-making process.
What will be an ideal response?
*Availability heuristics allow us to make judgments based on examples and events that are available and
immediately spring to mind
*Sometimes we can make incorrect judgments about certain issues because of our reliance on
information that is more readily available to us
*Anchoring and adjustment heuristics is the tendency to over-rely on initial information while overlooking
other important criteria, whichcan lead us to base decisions on the first piece of information and then
adjust it, leading to anchoring bias
*Representativeness heuristic is when we base a decision on our existing mental prototype and similar
representative stereotypes
You might also like to view...
The exchange of land held for investment purposes for stock in a real estate holding corporation held as an investment qualifies for like-kind treatment.
Answer the following statement true (T) or false (F)
Describe the four channels for communicating expectations to others.
What will be an ideal response?
A contract to answer for the debt of another person is called a
a. contract of adhesion. b. prenuptial agreement. c. contract of guaranty. d. parol contract.
In some ways, two agents, _______________ now control much of the agenda formerly dictated by governments.
a. law-makers and public officials b. society and regulators c. corporations and NGOs d. NGOs and cultural leaders