5. Percy seems to have a natural instinct to make decisions in line with the organization's mission statement and in line with company expectations. Which benefit of intuition is seen here?

facilitation of personal development

expedited decision making

improvement of the decision in some way

promotion of decisions compatible with company culture

6. A "black swan" is a likely and consequential event that is easily predicted.

True

False

7. The mayor of a large city continued to spend money investigating ways to privatize the airport, despite the fact that the move was unpopular and would actually cost the city more than retaining ownership. Which decision trap might encourage the mayor to continue to "throw good money after bad?"

hubris

escalation of commitment

sunk costs fallacy

hindsight bias

8. Which term best describes when a person makes an acceptable decision, but not the best decision?

bounded rationality

satisfice

suboptimal choosing

rational limitation