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You are part of a group making a decision about whether it is appropriate to discontinue research on a new drug. This new drug would save lives, but it is uncertain whether you can develop it within a reasonable time frame and at a reasonable cost. Your firm has already spent a small fortune on this drug. You have gathered so much information in preparation to making the decision that you are unable to sort the good information from the superfluous data. Your experience tells you that this project has merit.
-What form of decision making are you using if you decide to continue the project on the basis that the project has merit?
Halo Effect
A cognitive bias where an observer's overall impression of a person, brand, or product positively influences their feelings and thoughts about that entity's specific traits.
Performance Evaluations
The systematic assessment of an individual's job performance and productivity, typically based on criteria such as quality of work, efficiency, and goal achievement.
Fundamental Attribution Error
The tendency to over-emphasize personality-based explanations for behaviors observed in others while under-emphasizing the role of external situations.
Internal Explanations
The justifications or reasons for phenomena, actions, or decisions that originate from within an individual or organization.
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