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Author Question: Why do time constraints cause errors in decision making? A) Your performance is being judged, ... (Read 58 times)

B

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on: Jul 7, 2018
Why do time constraints cause errors in decision making?
 
  A) Your performance is being judged, placing far more pressure on you to quickly solve the problem successfully
  B) Effective managers can quickly assess the situation and make a decision. Taking more time provides the impression that you aren't a good manager
  C) Time constraints limit your ability to gather information
  D) Time is money

Question 2

Which type of decision making incorporates mental tricks known as mental accounting people use to help make financial and business decisions?
 
  A) Probability accounting
  B) Behavioral economics
  C) Organizational psychology
  D) Naturalistic


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Li Jun

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Reply #1 on: Jul 7, 2018
Answer to Question 1

C
Explanation: C) When we don't have time to gather the resources we would like to rely on, we don't have all of the information we need and we don't have time to fully analyze or think through the problem, synthesize a response, or create resiliency.

Answer to Question 2

B
Explanation: B) Behavioral economics incorporates the investigation of mental tricks, also known as mental accounting, people engage in to assist in making complex decisions, often those dealing with financial and business decisions.


B

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Reply 2 on: Jul 7, 2018
Thanks for the timely response, appreciate it

Dnite

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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