Judgment in Managerial Decision Making 8th Edition by Max H. Bazerman – Test Bank
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Sample
Questions
Multiple
Choice
1. An
example of bounded awareness in negotiations is when negotiators:
a. Assume
that what worked in one context will not work in another, even when the
contexts are similar.
b. Fail
to consider the impact of their decisions on others outside the negotiation
c. Fail
to realize that a publicly known deadline affects them just as much as the
other party, and think they are put at an asymmetric advantage.
d. All
of the above.
Ans: b
Response: p. 75-76
2. A
publisher wants to bid for the rights to publish a celebrity’s memoir. The
publisher would be better off to:
a. Bid
higher than what they think the book is worth, to avoid the winner’s curse.
b. Bid
lower than what they think the book is worth, to avoid the winner’s curse.
c. Enter
the bid early, in order to reduce uncertainty.
d. Enter
the bid late, in order to reduce uncertainty.
Answer: b.
Response: p. 77
3. Face-to-face
interaction in negotiations has been found to:
a. Help
overcome the inefficient outcomes predicted by game theory.
b. Enhance
the rationality of players as predicted by game theory.
c. Increase
the attentional focus on shared information between the negotiating parties.
d. Make
negotiators more eager to reach agreement in simple negotiations and less eager
to reach agreement in complex negotiations.
Ans: a
Response: p. 76
4. The
most critical barrier to a creative decision is:
a. System
2 thinking.
b. The
failure to recognize subtle changes in the situation.
c. The
failure to assign appropriate weight to information that is not readily
available.
d. A
narrow definition of the problem space.
Ans: d
Response: p. 64
5. Which
of the following biases is most related to the Slippery Slope theory?
a. System
neglect
b. Reference
group neglect
c. Change
blindness
d. Inattentional
blindness
Ans: c
Response: p. 67
True/False
6. In
creative problem solving, composing a group of people, each with unique
knowledge and perspective, is usually enough to avoid the problems of bounded
awareness.
Ans: False
Response: p. 70
7. The
Slippery Slope theory explains why a single instance of unethical behavior can
be justified.
Ans: False
Response: p. 67
Fill in
the blank
8. Entrepreneurs
often fall prey to self-focus, which makes them too eager to enter _________
contests and too reluctant to enter ___________ competitions.
Ans: simple; difficult
Response: p. 79
9. Groups
have a tendency to focus on _________ information, at the expense of
_____________ information.
Ans: shared; unique
Response: p. 70
10. When
people are asked to predict their emotional responses to a negative event, such
as a job termination, they expect that their emotional reaction will last
_________ than it turns out to.
Ans: longer
Response: p. 68
Matching
1. Change
blindness
2. The
winner’s curse
3. Inattentional
blindness
4. Reference
group neglect
5. System
neglect
6. focalism
11. A
team was in pursuit to sign a highly sought-after free agent. It gave the
player the highest offer of all the teams, and ultimately signed him to a
high-paying contract. The player did not live up to expectations during the
subsequent season.
Ans: b
Response: p. 74
12. A
firm replaces the receptionist who sits at the front desk and 80% of employees
do not even notice that it is a different person who greets them each morning.
Ans: c
Response: p. 65-67
13. The
tendency to focus too much on a particular event and too little on other events
that are likely to occur concurrently.
Ans: f
Response: p. 67-69
14. Japanese
automakers started producing innovative new models in the 1980’s and
introducing them in the United States. General Motors did not see its market
share is in danger, since it viewed itself as superior to the foreign
manufacturers. Since then, until today, Japanese cars are regarded as the most
reliable cars on the market.
Ans: d
Response: p. 79
15. Why
it is easier to pass budget cuts in several incremental steps than in the form
of one deep cut.
Ans: a
Response: p. 66-67
Short
answer
16. When
trying to generate an accurate probability assessment, why is it better to
consider all possible outcomes to a problem than to consider each possible
outcome separately?
Ans: because when we focus our attention to a subset of the
available information, we tend to give it too much weight, and too little
weight to all other information.
Response: p. 68-69
17. What
explanation does the book offer for the fact that two thirds of all corporate
acquisitions fail to live up to the acquiring company’s expectations?
Ans: competitive bidding causes companies to pay too much for
the companies they acquire.
Response: p. 77-78
18. Describe
the main difference between the bounded awareness of individuals and the
bounded awareness of groups.
Ans: individuals’ awareness is bounded by the information they
mentally consider, whereas the awareness of groups is bounded by the
information that becomes part of the discussion.
Response: p. 70
Essay
19. Discuss
a strategy of overcoming bounded awareness of groups.
Ans: strategies to counter bounded awareness of groups focus on
raising awareness of the group to this potential problem and on creating
structures to overcome it. These structures encourage members to share
information, particularly unique information. Suggested ways are forewarning the
group in advance of the unique knowledge of different members and identifying
expertise in the group before the
discussion begins.
Response: p. 70-71
20. Discuss
the difference between bounded awareness and the availability heuristic.
Ans: the two concepts have different foci. Availability is a
general cognitive heuristic, which explains the tendency to view information
that is readily available as more common, or more accurate than information
that is not. Bounded awareness, on the other hand, is more specific in
examining the types of information that are more likely to be in or out of
focus in different contexts.
Response: p. 81
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