OAM330 Exam 1 Actual Exam Questions and CORRECT Answers
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Course
OAM330
Institution
OAM330
OAM330 Exam 1 Actual Exam Questions
and CORRECT Answers
Organizational Behavior - CORRECT ANSWER- a field of study that investigates
individual behaviors and their impact on organizations.
can later be used to improve organization's effectiveness.
Behavior is not _____ - CORRECT ANSWER- rand...
OAM330 Exam 1 Actual Exam Questions
and CORRECT Answers
Organizational Behavior - CORRECT ANSWER- ✔✔a field of study that investigates
individual behaviors and their impact on organizations.
can later be used to improve organization's effectiveness.
Behavior is not _____ - CORRECT ANSWER- ✔✔random.
- people look towards control/certainty
6 decision making biases - CORRECT ANSWER- ✔✔1) anchoring
2) confirmation bias
3) over-confidence
4) availability bias
5) loss aversion
6) escalation of commitment
anchoring - CORRECT ANSWER- ✔✔bias where a piece of information is relied
upon/anchored to to make a decision
anchoring examples - CORRECT ANSWER- ✔✔- salaries after a recession
- housing estimates for real-estate agents
- negotiations: first offer becomes the anchor
confirmation bias - CORRECT ANSWER- ✔✔a tendency to search for information that
confirms one's preconceptions
"we see what we want to see"
,Confirmation bias:
evidence in support of our bias is seen as _____ - CORRECT ANSWER- ✔✔credible
confirmation bias examples - CORRECT ANSWER- ✔✔- WebMD for hypchondriacs
- fortune tellers
- fear with vaccines among antivaxers
confirmation bias defenses/solutions - CORRECT ANSWER- ✔✔- play devil's advocate (the
other side)
- ask a third party
- ask diagnostic questions instead of confirming questions
overconfidence - CORRECT ANSWER- ✔✔bias created by overconfidence in ones own
judgments
overconfidence consequence - CORRECT ANSWER- ✔✔planning fallacy --> people
underestimating amount of time/resources needed
Planning fallacy examples - CORRECT ANSWER- ✔✔- titanic
- financial/housing crisis
- Garrett with any planning
over confidence defenses/solutions: - CORRECT ANSWER- ✔✔- awareness
- seek disconfirming information
- be objective
availability bias - CORRECT ANSWER- ✔✔bias in reasoning where examples easily
brought to mind are relied on to make judgments.
affected by vividness or recency
examples of misconception of risk - CORRECT ANSWER- ✔✔- plane crashes, shark
attacks, murders
- America's biggest fears of dying are also the most unlikely ways to die
- all share quick/sudden deaths + lack of control
examples of over-estimating our contributions - CORRECT ANSWER- ✔✔- roommates,
group projects, relationships
availability bias defenses/solutions - CORRECT ANSWER- ✔✔- recall events that aren't so
memorable
ex. how many people flew safely, did NOT win the lottery, did NOT get eaten by a shark
loss aversion - CORRECT ANSWER- ✔✔the tendency to care more about avoiding losses
than about achieving equal-size gains
Why does loss aversion affect us? - CORRECT ANSWER- ✔✔losses are 2x more
psychologically powerful than our gains (not always rational)
loss aversion examples - CORRECT ANSWER- ✔✔- 2 praise, 1 criticism ... we stick to the
criticism
- hurts more when we lose money than if we were to gain the same amount
endowment effect - CORRECT ANSWER- ✔✔people place more value on the things they
own
examples??
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