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Studies in Managerial Decision Making
Clyman, Dana R.; Smokevitch, Jennifer Case QA-0494 / Published September 4, 1996 / 2 pages.
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Product Overview

This case and its companion, "Studies in Managerial Judgment" (QA-0493), consist of exercises that demonstrate several cognitive biases that are likely to affect judgment in decision making. They complement a curriculum focused on the normative approach to decision analysis by demonstrating real-world examples of how decision making can be skewed. The cases cover four of the main categories of heuristics: representativeness, availability, anchoring, and framing and are intended for students who have developed expertise with decision-tree analysis. (A teaching note is available.)



Learning Objectives

The class should accomplish the following objectives: ? Question the way in which a choice, situation, or decision is presented ? Examine what it means to be risk-seeking, risk-averse, or risk-neutral ? Recast the decision in a bias-neutral manner ? Identify when and why decisions will be skewed optimistically or pessimistically ? Improve objective decision making through recognition and understanding of these biases ? Create additional decision-analysis tools that will be applied in subsequent normative decision-analysis cases and enrich future class discussions


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  • Overview

    This case and its companion, "Studies in Managerial Judgment" (QA-0493), consist of exercises that demonstrate several cognitive biases that are likely to affect judgment in decision making. They complement a curriculum focused on the normative approach to decision analysis by demonstrating real-world examples of how decision making can be skewed. The cases cover four of the main categories of heuristics: representativeness, availability, anchoring, and framing and are intended for students who have developed expertise with decision-tree analysis. (A teaching note is available.)

  • Learning Objectives

    Learning Objectives

    The class should accomplish the following objectives: ? Question the way in which a choice, situation, or decision is presented ? Examine what it means to be risk-seeking, risk-averse, or risk-neutral ? Recast the decision in a bias-neutral manner ? Identify when and why decisions will be skewed optimistically or pessimistically ? Improve objective decision making through recognition and understanding of these biases ? Create additional decision-analysis tools that will be applied in subsequent normative decision-analysis cases and enrich future class discussions