Examlex
Anna's Antiques expects to get two bidders for the unique china teacup it sells.Each of the bidders can either have a high-value of $100 or a low-value of $70 with equal probability.If Anna instead holds an oral auction between the two bidders and one bidder of each type shows up,she earn ___ from the auction.
Halo Effect
What occurs when one attribute is used to develop an overall impression of a person or situation.
Nominal Group Technique
A structured method for group brainstorming that encourages contributions from everyone in the group and is used to generate and prioritize ideas.
Illusions Of Invulnerability
Illusions Of Invulnerability describe a mistaken belief within a group that its decisions are incapable of error or harm, often leading to excessive risk-taking.
Groupthink
A mental effect experienced by a collective, where the pursuit of agreement or uniformity leads to choices that are illogical or not functional.
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