Studies in Managerial Judgment

Abstract

This case and its companion, "Studies in Managerial Decision Making" (QA-0494), consist of exercises that demonstrate several cognitive biases that are likely to affect judgment in decision making. They complement a curriculum focused on the normative approach to decision analysis by demonstrating real-world examples of how decision making can be skewed. The cases cover four of the main categories of heuristics: representativeness, availability, anchoring, and framing and are intended for students who have developed expertise with decision-tree analysis. (A teaching note is available.) Excerpt UVA-QA-0493 Rev. Jan. 7, 2011 STUDIES IN MANAGERIAL JUDGMENT 1. Ann is finishing her MBA at a prestigious university in the southeast. Upon completion of her MBA, Ann is more likely to take a job in: A. Management of the arts. B. Management consulting. . . .