RBS final exam Questions With 100% Correct Answers.

interpersonal influence (RASCCL) - Reciprocity authority scarcity consensus consistency liking Reciprocity - Obligation to give back when you receive Authority - We say yes to those who feel/are important Scarcity - people want more of those things they are less off Consensus - People will look to the actions of others to determine their actions Consistency - looking for and asking for a commitment that can be made Liking - saying yes to those people we like decision making biasis - availability representativeness confirmation anchoring overconfidence hindsight framingescalation commitment Availability Bias - the tendency for people to base their judgments on information that is readily available to them representativeness bias - estimate the probability of an event occurring. " When a decision maker has to analyze the options of a decision, he tends to recall a memory or experience that is similar to the present decision-making situation." confirmation bias - Subconsciously decide something before investigating why it's the right decision 2. Seeking information that supports only that decision anchoring bias - is making a decision when decision-makers are influenced by the first information received about the decision even if it is irrelevant Framing bias - is making a decision and considering risk about gain.(The Framing effect is the principle that our choices are influenced by the way they are framed through different wordings, settings, and situations.) overconfidence bias - is when you are making a decision that relates to the tendency to be overconfident about estimates and/or forecasted. Hindsight bias - the tendency to believe, after learning an outcome, that one would have foreseen it escalation of commitment bias - whereby decision makers increase their commitment to a project despite negative information about it group dynamics - Conformity Pressures Group Polarization GroupthinkSocial Loafing Conformity Pressures - Strong pressure to agree with others (Asch studies) "I probably missed something, they are probably right" "They will like me more if I agree with them" Group Polarization - Group Polarization - Decisions/opinions become more extreme than actual, privately held beliefs in a group setting "SEE? I knew I was so right!" Groupthink - Value of group consensus/cohesion over the critical evaluation of the quality of the decision "They don't want to hear my objection" Social Loafing - Exerting less effort to achieve a goal in a group Lots of other people working, I don't need to do that much Coordination issues: hard to work hard all together at the same time