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Decision Making Traps

  • Course Code: PSYCH-418

  • Format: In-Person / Virtual

  • Description: Our brains are wired to make mistakes. This course explores cognitive biases like the Sunk Cost Fallacy. Participants conduct post-mortems of past decisions to identify where bias influenced the outcome and learn strategies to mitigate traps in the future.

  • Learning Objectives:

  • Identify and mitigate cognitive traps in management decision-making.

  • Conduct a post-mortem of a past decision influenced by bias.

  • Recognize the Sunk Cost Fallacy in real-time.

  • Scholar-Practitioner Framework:

  • Theory: Sunk Cost Fallacy.

  • Application: Decision Post-Mortem.

  • Curriculum: Heuristics and Biases; The Pre-Mortem Technique; Objectivity Tools.