Decision Making - Behavioral traps
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These are the 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."
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). 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.
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Solution Summary
Examines which of the behavioral traps is the easiest to fall into and which one is the easiest to avoid. References and examples provided.
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1- 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).
We all have different areas where we are more vulnerable, but let's consider two possibilities.
Examples:
(1) The investment trap might perhaps be the easiest to fall into - the most difficult to avoid-because when a person invests themselves in something, it is exceedingly difficult to discard her or his investment. It is powerful and easy to fall into because this investment entrapment is not just that it can result in ever greater losses, but that these losses get you ever more entrapped, because now you have even more invested. In other words, our past investments (e.g. money, effort or time) often cause ...
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