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Hersh Schefrin, a pioneer in the beha making, studies how a specific set of psychological traps snare decision makers, causing them to make inferior decisions.
Hersh Schefrin, a pioneer in the beha making, studies how a specific set of psychological traps snare decision makers, causing them to make inferior decisions. Two of the most common are excessive optimism and overconfidence. People learn to be excessively optimistic and overconfident. This means that successful people overestimate their past successes, which feeds these biases. Judging from the details of the case, explain how these two forms of "bias" affected decision making at RIM. How might RIM's "inferior decisions" have been avoided if executives like
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