Assignment 2 Decision Making - phenomenon is based on...

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1. Bias 6 Regression to the Mean accounts for the "sophomore jinx" phenomenon. This phenomenon is based tendency to be naively developing predictions based on the assumption of perfect correlation with past data. 2. Bias 12 Hindsight and the Curse of Knowledge is the phenomenon that most competent employees are usually poor in tutoring subordinates and new employees. This
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Unformatted text preview: phenomenon is based on discussions that when assessing others' knowledge, people are unable to ignore knowledge that they have that others do have. Available knowledge is hard to forget when you try to imagine how much others know about something; sophistication stands in the way of a fair assessment....
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This note was uploaded on 10/06/2011 for the course ECON 101 taught by Professor Smith during the Spring '11 term at University of Arkansas – Fort Smith.

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