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Seminar 1

Authored by Viktoriia Hamaiunova

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Seminar 1
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15 questions

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1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

You are mediating a dispute where one party refuses to budge from their initial settlement demand, despite substantial counteroffers. What cognitive bias is likely influencing their behaviour?

Optimism bias

Endowment effect

Confirmation bias

Polarised thinking

Answer explanation

The endowment effect often leads individuals to overvalue what they already possess, making them reluctant to accept fair offers that might require them to give something up​.

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

In a commercial dispute, one party consistently interprets all the information in a way that supports their own position, while ignoring evidence that contradicts it. What bias is at play here?

  • Sunk cost bias

Anchoring bias

Confirmation bias

Status quo bias

Answer explanation

Confirmation bias leads people to focus on information that supports their pre-existing beliefs, dismissing evidence that might challenge their viewpoint​.

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Imagine you are a mediator in a case where one party fears that any change from the current situation will result in more harm than good, even if objective evidence shows otherwise. Which bias might explain this behaviour?

  • Status quo bias

Functional fixedness

Reactive devaluation

Anchoring bias

Answer explanation

Status quo bias reflects a preference for keeping things the same, often due to fear of the risks associated with change​.

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

In mediation, one party rejects a settlement offer simply because it was proposed by the opposing party, even though the offer is objectively reasonable. What bias is influencing this decision?

Anchoring bias

Endowment effect

Reactive devaluation

Functional fixedness

Answer explanation

Reactive devaluation occurs when a party dismisses a proposal solely because it comes from the opposing party, regardless of its fairness​.

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

After investing significant time and money into litigation, a party insists on continuing the case, even though settling might be the more rational decision. What cognitive bias is most likely at work?

  • Sunk cost bias

  • Endowment effect

Confirmation bias

Framing effect

Answer explanation

Sunk cost bias leads individuals to continue a course of action because of past investments, even when it may no longer be in their best interest​.

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

A lawyer is preparing for a case and, despite recognising weaknesses in their argument, remains overly confident about their chances of success. What bias might explain this?

Optimism bias

Anchoring bias

  • Status quo bias

Reactive devaluation

Answer explanation

Optimism bias causes individuals to overestimate the likelihood of a positive outcome, often leading to overconfidence in their legal arguments

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

During a negotiation, the first offer significantly influences the direction of the discussion, and both parties seem anchored to that initial number. Which bias best explains this phenomenon?

Anchoring bias

  • Confirmation bias

Endowment effect

Status quo bias

Answer explanation

Anchoring bias refers to the over-reliance on the first piece of information received, which can shape subsequent negotiations and judgments​.

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