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Decisosn-making, Judgment, Heuristics and Bias

Think about the business decision you discussed (SEE ATTACHED DOC). Your supervisor had asked that you expand on your self-evaluation by identifying at least two judgment issues that you had to address. Write a memo to your supervisor describing these issues. Explain how you addressed them and the degree to which your decision was based on expedience and/or reflection. Potential issues include: bias, or ethical issues related to the availability heuristic, bias related to the representative heuristic, bias related to anchoring and adjustment, avoiding uncertainty, framing effects, positive illusions, egocentrism, and regret avoidance.

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I am having trouble going about this, I have notes on the business decision, but am having trouble with the memo

Think about the business decision you discussed (SEE ATTACHED DOC). Your supervisor had asked that you expand on your self-evaluation by identifying at least two judgment issues that you had to address. Write a memo to your supervisor describing these issues. Explain how you addressed them and the degree to which your decision was based on expedience (e.g. decisions based on self-interest, which are more likely related to the biases listed below) and/or reflection (e.g. step-by-step decision making process, which Is less likely to be influenced by biases because a person brainstorms many ideas, looks at the pros and cons, and this lengthy process has the potential to illuminate biases based on self interest). Potential issues include: bias, or ethical issues related to the availability heuristic, bias related to the representative heuristic, bias related to anchoring and adjustment, avoiding uncertainty, framing ...

Solution Summary

Referring to the business decision example, this solution identifies at least two judgment issues that were addressed and the degree to which the decision was based on expedience and/or reflection. Potential issues include: bias, or ethical issues related to the availability heuristic, bias related to the representative heuristic, bias related to anchoring and adjustment, avoiding uncertainty, framing effects, positive illusions, egocentrism, and regret avoidance.

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