I have 4 questions related Economic Agents Decision Making: 1. Please define the term bounded ethicality in
Question:
I have 4 questions related Economic Agents Decision Making:
1. Please define the term bounded ethicality" in the business context. What is the relationship between bounded ethicality and the conscious bbehaviour of an economic agent against his moral values?
2. What can be expected when people look at negotiations as a process dividing a "fixed pie" among parties? What other approach to negotiations is possible?
3. What is the effect of extreme offers in negotiations from the perspective of decision making science? What are the threats and opportunities if you make an extreme offer in negotiations?
4. There is a pattern that human assessments on expert topics are unconsciously distorted due to personal interest. How does personal interest influence our decisions?