When Business Managers Fail to Objectively Evaluate the Odds of Success

question 65

Multiple Choice

When business managers fail to objectively evaluate the odds of success for their decisions and believe that they can influence the events that follow a decision,it is an example of which of the following psychological biases?

• A) Illusion of control
• B) Framing effects
• C) Discounting the future
• D) Time pressure
• E) Social realities

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Definitions:

Variable Interval Schedule

A reinforcement schedule in which a response is rewarded after an unpredictable amount of time has passed.

Avoidance Learning

A form of learning in which an individual learns a behavior to avoid an unpleasant or fearful stimulus.

Escape Learning

A form of learning in which the subject acquires a response that results in the termination of an aversive stimulus.

Punishment

A form of behavioral control involving the application of an unpleasant stimulus or removal of a pleasant stimulus in response to undesired behavior.