This class has a group semester research project. In this project, you will form groups of approximately 5-6 students each and then choose one of the decision "traps" or biases that we cover to study in more depth. I would prefer each group to choose a different topic, if possible, so topics will be assigned on a first come first served basis. (You may also choose an alternative relevant topic, as long as you first clear it with me.) The project contains several parts: 1) defining the decision bias or phenomenon, 2) researching the existing literature on your topic, 3) conducting your own original study (can be a small experiment, an online survey, a focus group, etc.), and 4) providing recommendations to the class as to when they might encounter this bias and/or how to avoid it. Your project will culminate in both a written term paper (proofread, using a professional font and format, with all sources fully cited and all original data included) and 5-10 minute video. (See grading rubrics for the specific components of the grading for both the term paper and the video presentation), Project Objectives: As a result of completing this class project, students will be able to: o Understand the cognitive and motivational processes that hinder optimal decision making o Present ideas, produce examples, reasons and evidence for his/her own point of view o Demonstrate understanding of the subject knowledge in depth of content o Produce a well-organized presentation with appropriate visual support, well transitioned and coherent o Use research design, statistical methods, and technology appropriately to conduct research Some Sample Topics: Overconfidence Confirmation bias Hindsight bias illusions of control or unrealistic optimism Endowment effects . Framing effects, preference reversals Mental accounting