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UGBA 105 EXAM 1-QUESTIONS & ANSWERS
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UGBA 105 EXAM 1-QUESTIONS & ANSWERS
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UGBA 105 EXAM 1-QUESTIONS &ANSWERS
Informational justice Correct Ans-- The perceived fairness of the communications provided to
employees from authorities
- To what extent decision and process is explained
Fair treatment makes it harder to imagine an upward counterfactual, like you could've had it
better
Moral hazard Correct Ans-When the act of insuring an event increases the likelihood that the
event will happen
Reward system incentivizes people to do immoral things
I.e., companies do "well pay" to avoid this (pay back some of your unused medical claim fund)
Extrinsic motivation Correct Ans-A desire to perform a behavior to receive promised rewards
or avoid threatened punishment
Intrinsic motivation Correct Ans-A desire to perform a behavior effectively for its own sake
Intrinsically motivating jobs Correct Ans-· Meaningfulness: significance, skill variety, task
identity
· Responsibility: control over what you do and how you do it
· Knowledge of pursuits: see impact, feedback
Self-determination theory Correct Ans-A theory of motivation that is concerned with the
beneficial effects of intrinsic motivation and the harmful effects of extrinsic motivation
, Intrinsically motivating jobs are ones where employees feel high self-efficacy
Intrinsically vs. extrinsically motivated employees Correct Ans-Equal motivation but not equal
creativity
Classical/rational economic model Correct Ans-· Identify the problem
· Identify the decision criteria and weigh them
· Identify/list alternatives
· Identify consequences of each alternative
· Consider your preferences (weigh alternatives)
· Choose the best (satisfaction maximizing) option
· Capacity of human mind for formulating and solving complex problems is very small compared
with the size of the problems whose solution is required for objectively rational behavior in the
real world
Two decision-making systems Correct Ans-· System 1: fast, unconscious, effortless,
associative, relies on shortcuts (heuristics)
· System 2: slow, conscious, deliberate, effortful, exhausting, logical
Heuristics and Biases Correct Ans-Simplify and reduce the information needed for decision
making.
A heuristic is a strategy that ignores part of the information, with the goal of making decisions
more quickly, frugally, and/or accurately than more complex methods.
key decision-making biases Correct Ans-confirmation bias
overconfidence and illusion of control
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