A group of executives attended a meeting in which the CFO was the attendee with the most senior ranking. When the meeting began, the CFO offered his views on the matter at hand, and the other meeting attendees expressed agreement with his approach. This scenario could be an example of which type of bias? Anchoring and adjustment biasHindsight biasGroup think biasConfirmation biasAvailability bias

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Business

Jasmine Baird

28 June, 09:18

A group of executives attended a meeting in which the CFO was the attendee with the most senior ranking. When the meeting began, the CFO offered his views on the matter at hand, and the other meeting attendees expressed agreement with his approach. This scenario could be an example of which type of bias? Anchoring and adjustment biasHindsight biasGroup think biasConfirmation biasAvailability bias

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Terrence · Answer 1

Group think bias

Explanation:

Groupthink bias occurs when people believe in something because other people believe in it. It is when everyone comes to the same conclusion concerning a matter.

In the meeting everyone agreed with the CEO, this is an instance of groupthink.

Anchoring bias is when a person's decision is overly anchored on an initial information given when making a decision.

Confirmation bias is when a person arrives at a conclusion in line with their beliefs.

Availability bias is basing decisions on past instances that comes to mind when making the decision.

Hindsight bias occurs when people over estimate their abilities to predict how an event would have turned out in hindsight.