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Chapter 6: Perception and Individual Decision Making

Chapter 6: Perception and Individual Decision Making. LO 1. Perception. LO 2. Attribution Theory. LO 2. Error and Bias for Attribution. Fundamental attribution error

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Chapter 6: Perception and Individual Decision Making

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  1. Chapter 6: Perception and Individual Decision Making

  2. LO 1 Perception

  3. LO 2 Attribution Theory

  4. LO 2 Error and Bias for Attribution • Fundamental attribution error • We have a tendency to underestimate the influence of external factors and overestimate the influence of internal or personal factors. • Self-serving bias • Individuals attribute their own successes to internal factors.

  5. LO 3 Shortcuts in Making Judgments • Selective perception • Halo effect • Contrast effects • Stereotyping

  6. LO 3 Applications of Shortcuts • Employment Interview • Interviewers make perceptual judgments that are often inaccurate. • Performance Expectations • Self-fulfilling prophecy,or the Pygmalion effect • Performance Evaluation • Selective Perception, Contrast Effects, Halo Effects

  7. LO 4 Perception and Decision Making • Individuals make decisions – choosing from two or more alternatives. • Decision making occurs as a reaction to a problem.

  8. LO 5 Rational Model of Decision Making

  9. LO 5 Bounded Rationality • Most people respond to a complex problem by reducing it to a level at which it can be readily understood. • People satisfice – they seek solutions that are satisfactory and sufficient. • Individuals construct simplified models that extract the essential features.

  10. LO 5 Intuition • Intuitive decision making occurs outside conscious thought; it relies on holistic associations, or links between disparate pieces of information, is fast, and is affectively charged, meaning it usually engages the emotions. • The key is neither to abandon nor rely solely on intuition, but to supplement it with evidence and good judgment.

  11. LO 6 Decision Biases or Errors • Overconfidence Bias • Anchoring Bias • Confirmation Bias • Availability Bias • Escalation of Commitment • Randomness Error • Risk Aversion • Hindsight Bias

  12. LO 9 Three-Stage Model of Creativity

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