Which psychological traps do you believe need to be watched for
most in making smart decisions...
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General Management
Which psychological traps do you believe need to be watched formost in making smart decisions in the management area? Why? Is thisdifferent from personal life decisions?
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Common Psychological traps during decision making in management 1 Anchoring Decision making is strongly affected by the first information received 2 Status Quo Trap We are strongly biased towards alternatives which perpetuate the status quo and existing conditions 3 Sunk Cost Trap While making personal decisions we frequently make decisions that justify past choices even if the past choices
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