The hidden traps in decision making

This Discussion is based on the article, “The Hidden Traps in Decision Making” by Hammond, Keeney, and Raiffa from Harvard Business Review, which can be found in your coursepack. Make sure to read this article before starting the Discussion.

Hammond, J. S., Keeney, R. L., & Raiffa, H. (2006, Jan.). The hidden traps in decision making. Harvard Business Review, 84(1), 118–126.

Learning how to perform analytics is only step one in the road to making correct decisions. There are many traps along the way that may lead you down the wrong path, even if you know which analytical methodology you need to use. In this article, the authors describe various psychological traps that you may encounter.

For this Discussion, select one of these traps listed EXCEPT the sunk cost trap. Then, do the following:

  1. From your professional experience, provide a real, specific example where you believe decision makers (you or other managers) encountered the trap.
  2. Explain why you think your example fits the trap you selected. Remember, there are many bad decisions that are not the result of a decision trap. Does your example have the characteristics of the decision trap you selected? Start by providing a definition of the trap according to the article and explain why your example fits.
  3. Provide specific recommendations to your organization to identify and prevent the trap from occurring in the future.

Again, do not use the sunk cost trap.

In your replies to fellow classmates, look for similarities to your organization. If you have experienced similar events, comment on how your organization handled the situation.

Please use the format below for your answers so everyone can easily follow your answers to all the questions (copy and paste to your post; using the template below is part of the requirements).

Trap name

What happened: First, describe the event/situation.

Why it fits this trap: Define the trap. Explain why you think this situation fits the trap definition.

Recommendations: Describe how the situation can be identified in the future or what your organization should do to prevent it from happening again.







Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more

New Look, Same Us. Enjoy 10% OFF this October using the coupon code: nation10