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:

Environment

The environment or setting where a person, animal, or plant exists or functions.

Genes

The units of heredity, which partially determine an organism’s characteristics.

Anorexia Nervosa

An eating disorder characterized by an abnormally low body weight, an intense fear of gaining weight, and a distorted perception of body weight.

Body Mass Index

A numerical computation representing an individual's body weight in relation to their height, used to categorize underweight, normal weight, overweight, and obesity.