The Basic Model of Ethical Decision-Making_____________

question 101

Multiple Choice

The basic model of ethical decision-making_____________ .

• A) has five steps
• B) provides a method for analyzing the ethical climate
• C) can be used to determine which principle of ethical decision making is appropriate to the situation
• D) begins with a diagnosis of the situation
• E) is not accurately described by any of these

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Definitions:

Anchoring Effect

A cognitive bias in decision-making where individuals rely too heavily on the first piece of information (the "anchor") offered when making decisions.

Behavioral Economics

A field of economics that studies the effects of psychological, social, cognitive, and emotional factors on economic decisions.

Time Inconsistency

The tendency of individuals to change their plans or preferences over time in ways that they themselves will later regard as being against their own interests.

Myopia

Short-sightedness, in a business context, refers to a focus on short-term results at the expense of long-term interests.