Multiple choice An optimal search for alternatives should last: As long as needed to find the best solution. As long as needed to find the first good enough solution. As long as the cost of the search does not outweigh the value of the added information. As long as the cost of the search is within the appropriate limits set by the decision maker. Ans: c Response: p. 2-3 Rating alternatives on each of the decision criteria is considered the most difficult stage of the decision-making process, because: It assumes we have precisely defined our priorities. It requires us to forecast how each alternative solution will achieve each of our decision criteria. It requires us to compare all of the alternatives simultaneously. It is likely to fail if our problem is not defined correctly, and this failure will not be detected. Ans: b Response: p. 3 In the interplay between system 1 and system 2 thinking, the key goal for managers is: To improve their use of system 1 thinking. To attempt to use system 2 thinking as much as possible. To apply both systems in making decisions in order to perform a more thorough and complex search for alternatives. To identify when they should move from system 1 to system 2 thinking. Ans: d Response: p. 4 Which of the following is a typical characteristic of heuristics?
Multiple choice An optimal search for alternatives should last: As long as needed to find the best solution. As long as needed to find the first good enough solution. As long as the cost of the search does not outweigh the value of the added information. As long as the cost of the search is within the appropriate limits set by the decision maker. Ans: c Response: p. 2-3 Rating alternatives on each of the decision criteria is considered the most difficult stage of the decision-making process, because: It assumes we have precisely defined our priorities. It requires us to forecast how each alternative solution will achieve each of our decision criteria. It requires us to compare all of the alternatives simultaneously. It is likely to fail if our problem is not defined correctly, and this failure will not be detected. Ans: b Response: p. 3 In the interplay between system 1 and system 2 thinking, the key goal for managers is: To improve their use of system 1 thinking. To attempt to use system 2 thinking as much as possible. To apply both systems in making decisions in order to perform a more thorough and complex search for alternatives. To identify when they should move from system 1 to system 2 thinking. Ans: d Response: p. 4 Which of the following is a typical characteristic of heuristics?
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