Asked by Abdulaziz Bin Dharman on Jul 30, 2024
Verified
Which of the following is not a cognitive bias?
A) the irrational escalation of commitment
B) the belief that the issues under negotiation are all "fixed pie"
C) the process of anchoring and adjustment in decision making
D) the winner's curse
E) All of the above are cognitive biases.
Irrational Escalation
The phenomenon where individuals increase their investment in a decision based on the cumulative prior investment, despite new evidence suggesting that the decision was probably wrong.
Fixed Pie
A misconception in negotiations where parties incorrectly believe that their interests are directly opposed, assuming that one party's gain is the other's loss.
- Discern distinct cognitive biases and appreciate their consequence on negotiations.
Verified Answer
SD
Serigne Dame GUEYEAug 06, 2024
Final Answer :
E
Explanation :
All the options listed (A, B, C, D) describe different types of cognitive biases. Cognitive biases are systematic patterns of deviation from norm or rationality in judgment, where inferences about other people and situations may be drawn in an illogical fashion. Each option represents a specific cognitive bias that affects decision-making and judgment.
Learning Objectives
- Discern distinct cognitive biases and appreciate their consequence on negotiations.