Posts
NAME:
NURUL AFIAH BINTI ABDUL KARIM
Tutorial
1
What
are decision-making biases and errors?
Research shows that decision makers allow biases and
errors to creep into their judgments.
The following highlights the most common distortions.
a)
Overconfidence Bias - we think we know more than we actually do.
b) Anchoring Bias- the tendency
to fixate on the first piece of information we receive.
c) Confirmation Bias- selectively
gathering information that supports our existing views.
d) Availability Bias- basing
judgments on information that is readily available.
e) Representative Bias- assessing
the likelihood of an occurrence by matching it with a preexisting category.
f) Escalation of Commitment-
staying with a decision despite clear evidence that it is wrong.
g) Randomness error- trying to
create meaning out of random events.
h) Hindsight Bias- to believe
we’d have accurately predicted the outcome of an event, after that outcome is
actually known.
Well done........ Good work ...... u told clear and short problems
ReplyDeleteGood Job!
ReplyDeletegood
ReplyDeleteSatisfactory results and thank you
ReplyDeleteThis comment has been removed by the author.
ReplyDeletewell satisfying, would you please also like to explain the :
ReplyDelete** Sunk Costs Errors
** Self-Serving Bias
** Framing Bias
** Selective Perception Bias
plz explain that *HEURISTICS BIASES *IMMEDIATE GRADIFICATION BIAS
Deletewah thank you, lagi ok kalau ada explanation hehehe
ReplyDeleteInk ilawa b koi baises share keen plz
ReplyDeletereally nice.good job
ReplyDelete