Why People Are Not Always Rational

Questions/Business/ManagementWhy People Are Not Always Rational
each student will read one of these chapters( CHAPTER-7) and work collaboratively with his or her group to write a 1- to 2-page paper that explains the content of the assigned chapter and its connection to the decision problems from Week 1. In your Discussion this week, you will post your paper for your colleagues to read and discuss.
With your group, identify decision problems from the Week 1 Assignment that fall within the purview of the challenges or biases associated with rational decision making as discussed in your group’s assigned chapter and video.
With your group, collaboratively write a 1- to 2-page paper that explains your experiences with the Week 1 decision problems and how inherent decision-making biases may have influenced rational thought. In this paper, analyze whether you were affected by these biases as identified in your group resources. Explain how these biases affected your decision making.
read about the Allais Paradox and the Ellsberg Paradox in the Hastie and Dawes text. Also read Daniel Kahneman’s Nobel Prize lecture, “Maps of Bounded Rationality: A Perspective on Intuitive Judgment and Choice.”
Hastie, R., & Dawes, R. M. (2010). Rational choice in an uncertain world (2nd ed.). Thousand Oaks, CA: Sage.
Chapter 7, “Chance and Cause” (pp. 139–156)

Attachments
Sheena Iyengar_ How to make choosing easier _ TED Talk _ TED.com.html
WK1AssgnP1P2CoskunY.pdf
WK1AssgnP1and2DixonR (2).docx
WK1AssgnP2CrostonK.doc
Write a one pager on illusions of control.docx
remgmt80453mgmt8045m3mechanicsindivgrpdecmkng2 (1).zip
kahnemann-lecture.pdf

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Illusion of control (1).doc
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Illusion of Control
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