Simulation Heuristic in Decision Making
The scenario describes A imagining his father's potential reaction and exploring possibilities after an event (crashing the car). This mental process of simulating future outcomes falls under a specific cognitive heuristic.
Analyzing A's Thought Process
- Mental Simulation: A is not recalling easily available examples (Availability Heuristic) or judging based on stereotypes (Representativeness Heuristic).
- Future Prediction: Instead, A is mentally constructing or simulating what might happen and how his father might react. This involves imagining the scenario and its consequences.
Identifying the Correct Heuristic
The heuristic that involves mentally simulating potential future events and their outcomes is the simulation heuristic. A is essentially running a mental simulation of the consequences of his actions.
- Availability Heuristic: Less likely, as A isn't primarily recalling specific instances.
- Representativeness Heuristic: Not applicable, as A isn't comparing the situation to a prototype.
- Conjunction Error: This relates to probability judgments of combined events, not relevant here.
- Stimulation Heuristic (Simulation Heuristic): This correctly describes the process of mentally simulating future scenarios and outcomes, like anticipating the father's reaction.
Therefore, A's imaginative projection of his father's reaction represents the simulation heuristic.
Important Questions from Decision Making
Which of the following are necessary conditions for applying Simeon Denis Poisson distribution in the field of managerial decision making?
A. Each occurrence of an event is independent of the occurrence of the other event
B. The probability of an occurrence is the same for any two intervals of equal length
C. Poisson distribution describes continuous occurrences over a specific time interval
D. In each interval, occurrences can range from zero to infinity
Choose the correct answer from the options given below:
Which of the following common difficulties are faced in making decisions and implementing?
(A) Non-actionable information
(B) Unsupporting environment
(C) Easy acceptance by subordinates
(D) Ineffective communication
(E) Incorrect timing
Choose the correct answer from the options given below
The major components of Nicosia Model of consumer decision-making are:
A. The consumer's attitude based on firm's message exposure
B. Perceptual and learning constructs
C. Feedback in the form of purchase experience
D. Extensive problem solving by consumer
E. Consumer's product search and evaluation
Choose the correct answer from the options given below:
Match List - I with List - II.
List - I
Decision Rule
List - II
Rationale for applying the decision Rule to Down App.
(A)
Conjunctive
I)
"I bought the Smartphone App with the highest over all railing".
(B)
Disjunctive
(II)
"I down loaded the Smartphone App that had the most downloads".
(C)
Affect Referred
(III)
"I selected the Smart Phone App that had no bad features".
(D)
Majority vote
(IV)
"I picked the Smart Phone App that excelled in at least one attribute ".
Choose the correct answer from the options given below:
- What are the characteristics of programmed decisions ?
A. Problems are unique and novel
B. Solutions are based on rules and established procedures
C. Made by top management only
D. Problems are routine and repetitive
E. Conditions in which they occur are highly certain
Choose the most appropriate answer from the options given below :
