Posted: September 25th, 2022

(available from trident online library.

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Most of the sources in the background materials are library textbook chapters or journal articles. In general, these sources are considered much more credible than various random webpages that you will find online. When finding an online source, you need to carefully consider the credibility of the source. Factors to consider include the credentials of the person who wrote the materials, whether this person is trying to sell you something, and of course you also need to use your own intuition as to whether or not a source seems credible.
Your task for this discussion is to go to YouTube or videos.google.com and find a video that explains cognitive/heuristic biases covered in the background materials such as confirmation bias, overconfidence bias, etc. Use word searches such as “decision-making biases,” “heuristic biases,” “overconfidence, anchoring, framing, confirmation bias,” and similar searches. You should find many videos, but the difficult part will be to try to find a video that is A) relevant to the topics covered in the module, B) from a credible source, and C) easy to understand and follow.
To find a video from a very credible source, look at a video from Nobel Prize winner and heuristic bias expert Daniel Kahneman. Credible yes, but I can’t guarantee you will stay awake during the video. So see if you can also find a video from a source that appears credible but and has information consistent with the background material readings but also keeps you awake and helps you understand the different types of decision-making biases.
Share the link with your classmates and explain why you think the video is both useful and credible, and which biases from the background materials the video helps explain.
Module required reading:
A good place to start is this short video that will give you an overview of decision making biases:
Lombardo, J. (2014). Common Biases and Judgment Errors in Decision Making Organizational Behavior. Education Portal https://www.youtube.com/watch?v=cAbdmV3VOwA
Now go through the following three readings to get a deeper understanding:
Bolland, E., & Fletcher, F. (2012). Solutions: Business problem solving. (Available from Trident Online Library. Read only the relevant chapters.)
Kourdi, J. (2011). Chapter 10: Avoiding the pitfalls and developing an action plan. Effective Decision Making: 10 Steps to Better Decision Making and Problem Solving. London: Marshall Cavendish International [Asia] Pte Ltd. [eBook Business Collection]
Hammond, J. S., Keeney, R. L., & Raiffa, H. (1998). The hidden traps in decision-making. Harvard Business Review, 76(5), 47-58. [Business Source Complete]

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