SCENARIO 12-1 You are making a decision whether to discontinue research on a new drug.This new drug would save lives,but it is uncertain whether it can be developed within a reasonable time frame and at a reasonable cost.Your firm has already spent a small fortune on this drug.You have gathered so much information in preparation for making the decision that you are unable to sort the good information from the superfluous.
-Refer to Scenario 12-1.You state to the committee helping you that all information and research on this drug and the disease it is to treat has been sorted and processed into the 36 binder that are on the table in front of them.In making this statement and assuming you have complete information you are committing
A)confirmation bias.
B)optimal solution.
C)lateral approach.
D)fundamental attribution error.
E)risk aversion.

Question

Quizplus · Accepted Answer

By stating that all information and research has been sorted and processed into the binders on the table, the decision maker may be committing confirmation bias, as they are implying that only the information that supports their decision has been included and that they are not considering any contradictory information.

SCENARIO 12-1 You Are Making a Decision Whether to Discontinue