The Idea That Decision Makers Rely on an Implicit Favourite

question 67

Multiple Choice

The idea that decision makers rely on an implicit favourite to evaluate alternatives is:

• A)an assumption that economists made in their early research about decision makers.
• B)an emerging theory that has not yet been studied in organizational settings.
• C)a recommendation put forward by organizational behaviour scholars to improve decision making.
• D)the main reason why decision makers have difficulty identifying problems.
• E)None of the answers are correct.

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Definitions:

Prototype Testing

The process of evaluating the preliminary version of a product under conditions that simulate real-world use, to identify improvements before mass production.

Conjoint Analysis

A statistical technique in market research to determine how consumers value different attributes that make up a product or service.

Utility

The total satisfaction received from consuming a good or service, often used in economics to explain choices made by individuals.