The Representativeness Heuristic Bases a Decision on Similarities Between the Situation

question 72

True/False

The representativeness heuristic bases a decision on similarities between the situation at hand and stereotypes of similar occurrences.

Understand the concept of insight in problem-solving.

Recognize how personal experiences and perceptions can shape risk assessment and fear.

Understand the planning fallacy and its effects on project planning and estimation.

Explain the impact of the availability heuristic on judgment and decision-making.

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Definitions:

Psychological Contract

Is an unwritten set of expectations about a person’s exchange of inducements and contributions with an organization.

Chester Barnard

An American business executive and author, known for his work on management theory and organizational studies.

Hierarchical Thinking

The cognitive process of organizing concepts, ideas, or information into levels of importance or ranks.

Distributed Intelligence

A concept where knowledge and cognitive processes are spread across individuals, artifacts, and tools in a network or system.