Assignment:
Question 1. Discuss how bias has blocked your ability to make a rational decision. In your answer, discuss the heuristic that you may have used and the bias associated with that heuristic. What could you have done to overcome the bias generated by the heuristic?
Question 2. Consider the last decision that you have made (purchase of an automobile, purchase of a home, seeking a new job, etc.). Then, discuss that decision in terms of the rational decision making model. How could you have improved your decision?
Question3. Discuss the concept of satisfying. In your answer, discuss the positive and negative aspects of applying satisfying in decision-making.
Question 4. Discuss bounded rationality. In your discussion, explain the term as well as its importance in rational managerial decision-making.
Write your answer in 250 words for each.