Individual on the basis of single characteristic

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Reference no: EM132219348

1. When we draw a general impression about an individual on the basis of a single characteristic, such as intelligence, sociability, or appearance we are using a shortcut called the contrast effect.

True

False

2. ________ theory tries to explain the ways in which we judge people differently, depending on the meaning we attribute to a given behavior.

Hierarchy of needs

Acquired needs

ERG

Attribution

Two factor

3. For many people, a 50-50 flip of a coin for $100 might not be worth as much as a sure promise of $50, even though the gamble is mathematically worth twice as much as the sure thing. This is an example of ________.

self-serving bias

confirmation bias

selective perception

availability bias

risk aversion

4. Tom knows that the title insurance company made a mistake on his property title. Because of their mistake, his neighbor now has access to an easement road through the 25 acres located at the back of his property. He can't use the acreage for pasture, because his neighbor insists that the gates remain open. The title company has offered a $40,000 settlement. Tom has decided to take the settlement rather than possibly lose in court if he were to sue the title company for more money. Tom's decision is based on ________.

hindsight bias

escalation of commitment

availability bias

risk aversion

randomness error

5. Which is not one of the steps in the rational decision-making model?

identifying the decision criteria

finding a reasonable solution

evaluating the alternatives

defining the problem

selecting the best alternative

Reference no: EM132219348

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