Question

Business managers are often overly confident of their own hiring ability because they are more likely to monitor the successes of people they hired than the achievements of those they rejected. This illustrates that overconfidence may be facilitated by
A. an algorithm.
B. the framing effect.
C. prototypes.
D. confirmation bias.

Answer 1

Answer:

D) confirmation bias.

Explanation:

Confirmation bias refers to look for information that supports any decision or action that you made earlier. People have the tendency of seeing what they want to see (the half full or half empty glass).

In this specific case, the managers are faced with a double problem, since they will not only try to justify why they hired someone, but they also don't have information about what happened to those applicants that weren't hired. Usually, unless the rejected applicant becomes really famous and notorious (for good or bad reasons), managers will lack any evidence that favors or discredits their hiring decisions.

Answer 2

Answer:

Confirmation bias

Explanation:

Confirmation bias occurs from the direct influence of desire on beliefs. When people would like a certain idea or concept to be true, they end up believing it to be true. They are motivated by wishful thinking. This error leads the individual to stop gathering information when the evidence gathered so far confirms the views or prejudices one would like to be true. Once we have formed a view, we embrace information that confirms that view while ignoring, or rejecting, information that casts doubt on it. Confirmation bias suggests that we don’t perceive circumstances objectively.  A confirmation bias is a type of cognitive bias that involves favoring information that confirms your previously existing beliefs or biases.

For example, imagine that a person holds a belief that left-handed people are more creative than right-handed people. Whenever this person encounters a person that is both left-handed and creative, they place greater importance on this "evidence" that supports what they already believe. This individual might even seek "proof" that further backs up this belief while discounting examples that don't support the idea.