Quiz 1 IIMC PGPEX 2015-16 Intuitive Decision Making, Lecture 9 1 Q1. What is the principal goal of Naturalistic Decision Making (NDM) approach to study of decision making? How experts make decisions under extreme time pressure in complex and dynamic situations. Q2. Heuristics and biases approach to study decision making is important because.... …human beings tend to make inconsistent judgements when presented with the same information in different ways. Q3. Naturalistic decision making (NDM) community tries to understand how experts use intuition to make effective decisions, many times in life and death situations. TRUE
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Q1. What is the principal goal of Naturalistic Decision Making (NDM) approach to study of decision making?
How experts make decisions under extreme time pressure in complex and dynamic situations.
Q2. Heuristics and biases approach to study decision making is important because....
…human beings tend to make inconsistent judgements when presented with the same information in different ways.
Q3. Naturalistic decision making (NDM) community tries to understand how experts use intuition to make effective decisions, many times in life and death situations.
TRUE
Quiz 1
Q4. Study of heuristics and biases examines how System 1 simplifies decision tasks in order to make choices quickly and economically.
TRUE
Q5. Naturalistic Decision Making examines how skill and expertise aid decision making.
TRUE
Q6. Because System 1 uses heuristics, decision making skills can be improved by teaching managers how to recognise patterns and make fine discriminations between them in fluid and rapidly changing situations.
• Was conducting research on nervous system of worms • 1988: attended seminar on bioluminiscent organisms • Eureka! • 2008: Nobel Prize in Chemistry for work on Green
• Securities executive and certified fraud examiner • 1999: Friend challenged him to match Madoff’s financial results • Harry examined Madoff’s financial records, says, “There is no way
this is real.” This is bogus.” • Complained and chased SEC till Madoff turned himself in in 2008.
• Canyoneering accident à arm pinned by large rock • Failed to to cut his arm loose • Prepared to die • Epiphany on day 5: instead of freeing his arm, he could
free himself from the arm • Amputated his arm after 5 days 7 hrs
• Appreciative enquiry • Critical thinking, questioning not listing assumptions • Incubation, pause…especially when faced with impasse • Reduce the tyranny of the Down Arrow
– Loosen the filter, provide an appeals forum for rejected ideas – Corral Six Sigma
• Increase organisational willpower – To act, to redraw goals when necessary