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The capacity of the 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 worldor even for a reasonable approximation to such objective rationality (Simon, 1957, p. 198).
In reference to Simons quote, provide a critical examination of three discrete concepts (covered in this course) that may explain bias in decisions.
Part 2 Case study 20% value:
1500 words excluding references
Describe a specific decision making scenario (e.g., real-world application) applicable to each of the three concepts examined in Part 1. You may use three different scenarios here (one for each concept), one general scenario (applied to each concept), or anything in between. For each concept, explain (1) how bias is recognised or identified in the scenario, (2) methods by which bias may be measured or evaluated in the scenario, (3) strategies to address, ameliorate or overcome bias in the scenario, and (4) how this process may improve decision outcomes in the scenario.
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