Question
Decision making involves many behavioral aspects, which can introduce subjective considerations into the process. Behavioral aspects include things such as bounded rationality, political forces, intuition,
Decision making involves many behavioral aspects, which can introduce subjective considerations into the process. Behavioral aspects include things such as bounded rationality, political forces, intuition, escalation of commitment, risk propensity, and ethics. Good decisions can (and often must) be made despite behavioral considerations; therefore, it is important to understand their potential effects.Identify the behavioral consideration that is described in each of the following examples.
Brody is an experienced manager who needs to hire a new financial analyst. There are five people who might be right for the job. When Brody meets the first applicant, he knows instantly that he doesn't like her and doesn't want her working for him. As a result, he cuts short his interview with her and moves on to the next candidate.
Intuition
Escalation
Satisficing
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