Q. 1
c. Focalism
Q. 2
b. Hindsight bias
Q. 3
The curse of knowledge
Q. 4
b. When researching a paper for your Decorative Arts class, you only look at the first page of Google results.
Q. 5
c. Over-placement
Q. 6
a) Bounded awareness aids in avoiding the routine of overlooking significant information when deciding the classes to select. Bounded awareness will enable me to look consider important factors such as the importance of the class available. Additionally, it will aid in making the decision based on the schedule of the classes. My ability to choose classes is bounded by my education level, the schedule of the classes and my course.
b) Overconfidence creates the illusion that the assessment is easy and needs no thorough preparation. As a consequence, a student may overlook important aspects necessary for passing his or her examinations. Overconfidence results to negative GPA scores (Brennan, 2012).
Q. 7
Overconfidence can result to dangerous and impacts which may be costly to the overconfident person. For instance, a doctor who is overconfidence can grant their clients poor advice. This can lead to grave actions by the client such as lawsuits to the doctor. Additionaly, it can result into investors losing huge sums of money in money market while predicting market trends (Cbsnews).
Q. 8
American fashion brands
Maeshalls
Dillards
JAG
Fashion bug
belk
CalvinKlein
German fashion brands
Addidas
Puma
Hugo Boss
c) The ease of recall bias: this affected my ability to recall some of the fashion brands in America and Germany. The American fashion brand is all over the world as compared to the German fashion brands.
Q.9
a) MCM Diamond and Diamond District Gold Buyers
b) It presents a business with the opportunity to access higher and crucial information about the completion or new product that they are not aware of.
References
Brennan, P. F. (2012). Managerial Decision Making. Nursing and Computers: An Anthology, 769, 284.
Cbsnews.com,. "Don't Be Overconfident In Investing". N.p., 2016. Web. 27 Feb. 2016.
