Class 13 Group Decision Making - Org Mng

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1
Normative
how X should be chosen / judged in optimal / rational conditions
2
descriptive
how X actually gets chosen / judged
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"First is the best" fallacy
Information is often not shared because teams decide on the first acceptable alternative rather than looking for the best alternative
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Groupthink
the tendency of group members to conform to the census viewpoint in group decision making
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The Abilene Paradox
A paradox where a group of people collectively decide on a course of action that is counter to the preferences of any of the individuals in the group
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Pluralistic Ignorance
assumption that others' behaviors are aligned with their attitudes which is not always/often true
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Group Polarization
the tendency for group discussion to intensify group opinion, producing more extreme judgment than would be obtained by pooling individual views
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Escalation of Commitment
the tendency to continue to a failing course of expectation
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Availability Heuristic
the tendency for people to judge an event as more likely to occur if it is more readily available in memory
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conjunction fallacy (representativeness heuristic)
the tendency to base our estimates of probability on the extent to which the outcome fits with our schemas, categorizations and prior experiences
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Framing effects
the tendency to make different decisions depending on simple differences in how situations are presented/framed
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Risky Choice Framing
the tendency to avoid risks when potential gains are emphasized and to take risks when potential losses are emphasized
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Attribute Framing
the tendency to evaluate a characteristic more positively when it is presented in positive terms than in negative terms
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Prospect Theory
the theory that people choose to take on risk when evaluating potential losses and avoid risks when evaluating potential gains
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Anchoring and Adjustment Bias
the tendency to base decisions on salient or recent info
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Overconfidence
we think we can forecast uncertain values/outcomes better than we actually can
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