Explain anchoring and adjustment, and provide examples. Relate your analysis to the roles of System 1 and System 2 reflecting a clear understanding of these concepts.

After you read Kahneman Chapters 7, 9, 10 and 11.

  1. Explain anchoring and adjustment, and provide examples. Relate your analysis to the roles of System 1 and System 2 reflecting a clear understanding of these concepts.
  2. What commonly goes wrong with adjustment, and why?

Discussion Rubric

The rubric for discussions can be viewed by clicking the three dots (top right) and selecting Show Rubric. Please read it carefully to understand the expectations for discussions.

Discussion Rubric

 

Criteria Ratings Pts
This criterion is linked to a Learning OutcomeResponsiveness to Assignment and RelevanceResponsive and relevant to prompt, instructions, stated requirements. This area will be used by the assessor to leave comments related to this criterion. 20.0 pts
This criterion is linked to a Learning OutcomeOrganizationPosts are well-organized, logically constructed and stated, and use sound reasoning. Insightful and original thought. Analysis is supported with evidence and/or examples. This area will be used by the assessor to leave comments related to this criterion. 20.0 pts
This criterion is linked to a Learning OutcomeWriting QualityAll grammar, punctuation, spelling, syntax, and proofing comply with conventional English. Paper is concise with few, if any, extraneous words. Level of formality is appropriate for audience. Avoids triteness and unwarranted generalization. This area will be used by the assessor to leave comments related to this criterion. 20.0 pts
This criterion is linked to a Learning OutcomeNetiquetteNetiquette is consistently observed in all posts and responses. This area will be used by the assessor to leave comments related to this criterion. 20.0 pts
This criterion is linked to a Learning OutcomeTimelinessPosts are well distributed throughout week so that other classmates have time to read, reflect, and respond to the student’s initial post. Response posts are not done at the last moment. This area will be used by the assessor to leave comments related to this criterion. 20.0 pts
Total Points: 100.0

Textbook Readings

Kahneman, D. (2011). Thinking, fast and slow. New York, NY: Farrar, Straus, and Giroux.

  • Chapter 7: A Machine for Jumping to Conclusions
  • Chapter 9: Answering an Easier Question
  • Chapter 10: The of Small Numbers
  • Chapter 11: Anchors

McNamee, P., & Celona, J. (2005). Decision analysis for the professional (4th ed.). Menlo Park, CA: SmartOrg, Inc.

  • Chapter 2: Uncertainty and Probability (pp. 13–24 only)

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