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Decision Making

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Deliverable Length: 4- Paragraphs

From our learning this unit we discovered that there are 5 different types of behavioral traps:

the time delay trap
the investment trap
the deterioration trap
the ignorance trap
the collective trap

Remember that behavioral traps are almost always identified in hindsight but an awareness of them can help us, as decision makers, avoid becoming "trapped."
Post an answer to the following questions:

1-Based on your reading and research during Unit 4, in your opinion, which one of the 5 behavioral traps listed above do you believe is the easiest to fall into and which one is the easiest to avoid? Be sure to support your conclusions for each trap (avoid putting both findings and support in the same block paragraph).

2-Identify an example of how an individual may fall into one of the traps you identified. Be sure to clearly identify "which" trap the example relates toward as well as "why" it is applicable.

Reference in APA style, please

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The Response Addresses the Queries Posted in 354 Words, APA References

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The Response Addresses the Queries Posted in 354 Words, APA References

Identification of Behavioral Trap

A behavioral trap or often known as a social trap describes a situation in which a group of individuals act to get short-term individual gains and this short term gain results in a loss in the long run for the group as a whole. A behavioral trap is undesired and one can not just manage to get away with it. Deterioration trap is the easiest to fall in because in this, the things that appear to be nice earlier result in bad consequences ...

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Ashish Sharma, MBA (IP)
Education
  • MBA (IP), International Center for Internationa Business
  • BBA, University of Rajasthan
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