Decision making involves many behavioral aspects, which can introduce subjective considerations into the process. Behavioral aspects include things such as bounded rationality, political forces, intuition, escalation of commitment, risk propensity, and ethics. Good decisions can $($and often must$)$ be made despite behavioral considerations; therefore, it is important to understand their potential effects.

Identify the behavioral consideration that is described in each of the following examples.

Noah works at a coffee shop that offers a special limited edition drink during the month of June. It is always a hassle to get his colleagues to agree on the special drink, so he started providing them with a different sample each morning starting well before June. One day, every employee agreed that the daily sample would be a good choice to use as the limited edition beverage in June, so they chose that drink as the special and didn$$t taste any more samples.

Satisficing

Intuition

Escalation

Brody is an experienced manager who needs to hire a new financial analyst. There are five people who might be right for the job. When Brody meets the first applicant, he knows instantly that he doesn$$t like her and doesn$$t want her working for him. As a result, he cuts short his interview with her and moves on to the next candidate.

Satisficing

Escalation

Intuition

Last month, the Pilots Association held a meeting to discuss its plans for next year. Last year, the group spent more than $$50,000$ to develop plans for a new airport hub. The hub was criticized by airport officials, who suggested that they would not be interested in the project at any time. The group decided to continue developing their plans, because they had already invested so much in the project.

Escalation

Intuition

Satisficing

Choose the best answer to complete the sentence.

A friend asked if you would like to open a deli near your school$$s campus, where there are very few inexpensive places to eat. Although a deli probably would be successful, you declined; even the possibility of losing money made you too nervous due to your low $.$