You Are Part of a Group Making a Decision About

question 106

Multiple Choice

You are part of a group making a decision about whether it is appropriate to discontinue research on a new drug. This new drug would save lives, but it is uncertain whether you can develop it within a reasonable time frame and at a reasonable cost. Your firm has already spent a small fortune on this drug. You have gathered so much information in preparation to making the decision that you are unable to sort the good information from the superfluous data. Well after you have started trying to make a decision, new information comes to light that implies that the drug may be able to be synthesized much more cheaply than was previously thought.
-What must you try to avoid when integrating this new information?

• A) anchoring bias
• B) overconfidence bias
• C) confirmation bias
• D) availability bias
• E) representative bias

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Definitions:

Community Inventory

A comprehensive collection of resources, strengths, needs, and characteristics within a community, often used for planning and development purposes.

Landmarks And Celebrations

Significant events, milestones, or locations that have a symbolic importance or are commemorated.

Levels Of Analysis

The different lenses through which one can examine or analyze a phenomenon, often ranging from individual to organizational, to societal or international levels.

Organizational Hierarchy

A system in an organization that establishes a clear chain of command and ranking of roles, responsibilities, and authority from the top level down to the lowest level.