The Tendency for People to Base Their Judgments on Information

question 125

Multiple Choice

The tendency for people to base their judgments on information that is readily available to them rather than complete data is known as

• A)framing.
• B)bounded rationality.
• C)intuition.
• D)availability bias.
• E)regression.

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Definitions:

Corporate Guidelines

Policies and procedures established by a company to set standards and rules for employee behavior and company operations.

Oversampling

The practice of sampling a subgroup of a population at a higher rate than its proportion in the whole population to ensure adequate representation.

Hidden Profiles

Situations in which the best collective decision is not obvious because each team member has access to unique information not held by others, often leading to suboptimal decision-making.

Demonstrably Correct Solutions

Demonstrably Correct Solutions are solutions or answers to problems that can be proven to be right or effective through evidence or demonstration.