Management Decision Making (continued): Cognitive Biases

Management Decision Making (continued): Cognitive Biases
General Framework
Decision making pervades everything a manager does from deciding about the details in a plan of
action through to making decisions in a control context such as what to do when targets are not met.
Managers pride themselves on their ability to make sound, objective judgements. However, there is
considerable evidence to suggest that bias creeps into decision making.
In this topic you are to present, as a general framework, the overall view outlined in the paper by D
Arnott (1978) (see resources attached to the Assignment specification on Blackboard)
Individual Components
Each individual should select one or two of Arnotts’s list of 37 biases and explain using examples.
Choose examples of biases NOT discussed in earlier assignment presentations.

find the cost of your paper