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When 6-Year-Old Megan Spills a Glass of Pop,she Looks Down

question 33

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When 6-year-old Megan spills a glass of pop,she looks down and realizes that the seemingly huge amount of liquid would actually fit back into her small glass.Megan's conclusion provides an excellent example of

Distinguish between different types of conflict: task, process, and relationship conflict.
Identify the conditions under which conflict is more likely to occur.
Understand the outcomes of conflict on team performance and member satisfaction.
Analyze the role of intergroup bias and self-esteem in organizational conflict.

Definitions:

Myopic Loss Aversion

A behavioral finance theory suggesting investors' tendency to avoid investments with potential losses, leading to an overly cautious investment strategy.

Recency Bias

The tendency to weigh recent events more heavily than earlier events when making decisions.

Representativeness Heuristic

The representativeness heuristic is a mental shortcut people use to classify something based on how similar it is to a typical case.

Endowment Effect

A cognitive bias that causes individuals to value an owned object higher than it would be valued if it were not owned.

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