Decision Making Errors Bias

What is confirmation bias?

• The tendency to interpret or seek out information that confirms one's preexisting beliefs or hypotheses.

• The tendency to interpret or seek out information that is neutral and unbiased.

• The tendency to interpret or seek out information that challenges one's preexisting beliefs or hypotheses.

• The tendency to interpret or seek out information that contradicts one's preexisting beliefs or hypotheses.

Which decision-making error involves giving more weight to information that confirms our existing beliefs?

• confirmation bias

• hindsight bias

• anchoring bias

• availability bias

What is the availability heuristic?

• The availability heuristic is a mental shortcut that relies on immediate examples that come to a person's mind when evaluating a specific topic, concept, method, or decision.

• The availability heuristic is a memory bias that causes people to remember events or information that are more recent or vivid more easily than events or information that are more distant or dull.

• The availability heuristic is a decision-making strategy that involves relying on the first piece of information that comes to mind when making a judgment or decision.

• The availability heuristic is a cognitive bias that occurs when people overestimate the importance or likelihood of events based on how easily they can recall similar events.

Which decision-making bias involves relying on immediate examples that come to mind?

• hindsight bias

• anchoring bias

• confirmation bias

• availability bias

What is framing bias?

• Framing bias is a cognitive bias where people's decisions are influenced by their personal beliefs.

• Framing bias is a cognitive bias where people's decisions are influenced by their emotions.

• Framing bias is a cognitive bias where people's decisions are influenced by their past experiences.

• Framing bias is a cognitive bias where people's decisions are influenced by the way information is presented or framed.

Which decision-making error involves being influenced by how information is presented or framed?

• anchoring bias

• confirmation bias

• availability heuristic

• framing effect

What is one right answer thinking?

• One right answer thinking refers to the belief that there is only one correct answer to a problem or question.

• Exclusive answer perspective

• Single solution mentality

• One correct answer mindset

Which decision-making bias involves believing there is only one correct solution or answer?

• anchoring bias

• overconfidence bias

• confirmation bias

• availability bias

What is groupthink?

• Groupthink is a psychological phenomenon that occurs within a group of people in which the desire for harmony or conformity in the group results in an irrational or dysfunctional decision-making outcome.

• Groupthink is a process of brainstorming ideas within a group to reach a consensus.

• Groupthink is a term used to describe the tendency of individuals to conform to group norms.

• Groupthink is a strategy used by leaders to manipulate group members into making certain decisions.