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Unformatted text preview: i. Tendency to use stereotypes if people are typical for stereotype ii. Ignore base rate information iii. Consequences: 1. Entrepreneurs are more likely to imagine success than the potential for failure even though most businesses fail 2. Most people refuse to sign pre-nup even though divorce rate is mad high 3. Vietnam War: Biases made ppl make bad choice, but they still sent more ppl a. Escalation of Commitment i. Self-Justification ii. Less likely to escalate when responsibility can be diffused b. They should have changed courses but they did not IV. Choice Overload a. Normally better choices are made when there are more choices available b. However, too many alternatives leads to negative consequences i. Will be dissatisfied with choice if there are too many options ii. Less is better...
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This note was uploaded on 02/20/2008 for the course ILROB 1220 taught by Professor Goncaloj during the Fall '07 term at Cornell.
- Fall '07