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Management 1001H Final Project

Taylor Vollmer

on 29 November 2012

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Transcript of Sway

Loss Aversion/ Commitment Diagnosis Bias Sway Presented by: Alex Garcia, Charlie Kleiner, Jack Prinsen, Andrew Solfest, Taylor Vollmer Diagnosis Bias/Loss Aversion
Value Attribution Biases
Chameleon effect
Golem effect
Pygmalion effect
Placebo effect
Parts of the brain
Pleasure: Nucleus Accumbens, financial gain made
Socially inclined: Posterior Superior Temporal Sulcus, altruistic motivations
Team Roles
Initiator, blocker, supporter, observer The Irresistible Pull of Irrational Behavior Definition: Our propensity to label people, ideas, or things based on our initial opinions of them.

Common in
Race and poverty Fundamental Attribution Error (form of attribution bias)
Attribute people's decisions to their internal characteristics as opposed to their environment
People rarely reserve judgement for people in positions of power Interpretation Attribution Projection Diagnosis Bias Action/Behavior Significant Connections to Management
Managers and leaders tend to be swayed by bias which affects employees and overall success as an organization
Theory X and Theory Y
Biases affect
Internal environment
External environment
Task environment
Interviews Think 1 Bibliography:
1. physchcentral.com
2. loss-aversion.bahaviouralfinance.net
3. "Sway" by Ori and Rom Brafman Definition: People's tendency to strongly prefer avoiding losses to acquiring gains.

People with higher aspirations that are not met tend to be less loss averse, but this also means that people with higher incomes or more power tend to be extremely loss averse. 2 Psychological forces can have a negative effect on organizations.

As discussed in class, managers can also use biases as tools of influences
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