Q&A Hero

Q: The ________ axiom asserts that if x is preferred to y, then x must be preferred to any probability mixture of x and y, which in turn must be preferred to y. A) reducibility B) continuity C) substitutability D) betweenness

Q: Which of the following statements describes the substitutability axiom? A) The probabilities of two gambles can be interchanged if they are related to each other. B) All sorts of gambles can be interchanged without value exchanges. C) Gambles that have prizes about which people are indifferent are interchangeable. D) If x is preferred to y, then x must be preferred to any probability mixture of x and y.

Q: Ronald is an electrical engineer. He gets job offers from three companies, A, B, and C. Ronald prefers the offer from A over the offer from B and the offer from C over the offer from A. Hence it is evident that he prefers the offer from C over the offer from B. This scenario explains the ________ property of a utility function. A) reducibility B) closure C) comparability D) transitivity

Q: Which of the following relationships is true according to the closure property? A) (x, p, y) = (y, p, x) B) (x, p, y) = (y, 1/p, x) C) (x, p, y) = (y, 1- p, x) D) (x, p, y) = (x, 1/p, y)

Q: Which of the following is a key assumption of the utility function? A) Gambles of the form (x, p, y) should be equal to gambles of the form (y, p, x). B) Gambles are not interchangeable even if the prizes are similar. C) A person's attitude toward a lottery is not solely dependent on the ultimate prizes. D) Every object considered for gambling is comparable.

Q: A(n) ________ is the quantification of a person's preferences with respect to certain objects such as jobs, potential mates, and ice cream flavors. A) inverted-S function B) utility function C) probability weighting function D) expected value

Q: Which of the following terms is most closely associated with the expected utility theory? A) decision making under uncertainty B) riskless negotiation C) collective decision making D) rational behavior

Q: In risky choice decision making situations, ________. A) the decision maker is ignorant of the likelihood of events B) the decision maker has to choose between two or more available options C) the likelihood of events is unknown D) the probabilities of events are known to the decision maker

Q: You are organizing a team outing to Alabama. You have to make a choice between hunting, fishing, and outing at an amusement park. However, you have little idea about the weather in Alabama and its impact on each of these alternatives. The decision making under these circumstances is an example of ________. A) riskless choice B) decision making under uncertainty C) probabilistic decision making D) risky choice

Q: According to the ________, one alternative leads another if it is strictly better on at least one dimension and at least as good on all others. A) expectation principle B) regressiveness principle C) dominance principle D) symmetry principle

Q: In the multiattribute utility technique, after evaluation, each attribute is given a weight based on ________. A) how important that attribute is to him or her B) the difficulty involved in carrying out the alternative C) the relative utility or value of each alternative D) the complexity in evaluating the alternative

Q: Which of the following is the first step in the multiattribute utility technique? A) evaluating the utility of dimensions B) identifying the alternatives C) identifying the attributes of the options D) defining the priorities of dimensions

Q: An individual has short listed three properties to build a house on. He has to choose from these three properties. This is an example of a ________. A) jagged selection B) decision making under uncertainty C) risky choice D) riskless choice

Q: ________ involves choosing between two or more readily available options. A) Risky choice B) Jagged selection C) Decision making under uncertainty D) Riskless choice

Q: Game theoretic rationality focuses on how ________. A) people make independent decisions B) people make interdependent decisions C) perception influences individual decisions D) people make decisions using their legitimate power

Q: ________ rationality focuses on how people make independent decisions. A) Game theoretic B) Probabilistic C) Virtual D) Individual

Q: According to the uniqueness axiom, a unique solution exists for each bargaining situation.

Q: According to the regressiveness principle, extreme values of some quantity deviate to a large extent from the average value of that quantity.

Q: If a person's utility function is convex, his or her decisions will be risk-neutral and identical to those predicted by expected value maximization.

Q: The observed reluctance to pay to play a game, despite its objective attractiveness, is known as the St. Petersburg paradox.

Q: The betweenness axiom asserts that gambles that have prizes about which people are indifferent are interchangeable.

Q: According to the expected utility theory, we need to be able to compare everything to be truly rational.

Q: Expected utility theory is a theory of choices made by an individual actor.

Q: Decision making under uncertainty refers to a decision making situation where only the probabilities of events are known.

Q: You are going to buy an apartment in Alaska. You have to choose between eleven different proposals. This decision making scenario is an example of a risky choice.

Q: Rational models serve a diagnostic purpose to negotiators.

Q: The Mind and Heart of the Negotiator, 5e (Thompson) Appendix 1: Are You a Rational Person? Check Yourself

Q: What are the advantages of using agents to represent one's interests?

Q: Discuss the disadvantages of majority rule.

Q: The goals of this strategy are to increase communication and reciprocity between groups while reducing mistrust, thereby allowing for deescalation of hostility and creation of a greater array of possible outcomes. Identify the strategy in the discussion. A) GRIT model B) blue ocean strategy C) porter's diamond model D) delphi technique

Q: The mere contact strategy is based on the principle that greater contact among members of diverse groups ________. A) reduces intergroup prejudice when participants are not of equal status B) limits the need for social and institutional support C) increases cooperation among group members D) results in the out-group homogeneity bias

Q: According to the nave realism principle, people ________. A) view two options as more dissimilar when evaluating them simultaneously than when evaluating them separately B) expect others to hold views of the world similar to their own C) search for or interpret information in a way that confirms their preconceptions D) rely too heavily on one trait or piece of information when making decisions

Q: Common-bond groups are composed of members who ________. A) are attracted to the group B) are privy to certain special information C) want to achieve a common goal D) are attracted to particular members in the group

Q: Which of the following increases the likelihood of information pooling within a team? A) The conformity pressure within the team is high. B) The team members share a relationship outside the team. C) The group is common-identity rather than common-bond. D) The group comprises people from very different backgrounds.

Q: The team ________ effect refers to the fact that teams tend not to be blamed for their failures, as much as do individuals, holding constant the nature of the failure. A) halo B) framing C) anchoring D) primacy

Q: Horizon thinking involves ________. A) determining the optimal value of the negotiator's surplus B) making projections about future outcomes C) determining your counterparty's BATNA D) making projections about the counterparty's reservation point

Q: Which of the following statements is true regarding the effect of accountability on the negotiators? A) Negotiators who are accountable for their actions consider relevant information and alternatives less carefully. B) Accountability increases automatic, heuristic processing. C) Negotiators who are accountable for their actions are less willing to compromise. D) Accountability decreases thoughtful, deliberate processing of information.

Q: In a negotiation, ________ comprise the primary relationship in the negotiation. A) the principals and their constituents B) the negotiators and their superiors C) the negotiators at the bargaining table D) the principals and their agents

Q: In the case of a negotiation, the term 'second table' refers to the relationship between ________. A) the principals and the agents B) the agents and the clients C) the agents and the constituents D) the principals and the constituents

Q: A(n) ________ is on the "same side" as a principal but exerts an independent influence on the outcome through the principal. A) agent B) constituent C) boundary spanner D) founder

Q: You want to buy a house and you appoint an agent to help you get a good deal. In order to work effectively with this agent, you should ________. A) reveal your BATNA to the agent to ensure better clarity B) ensure that your agent is emotionally invested in your search C) avoid asking your agent about the exit clause and plans D) ask the agent about key strategies for targeting opportunities

Q: Message tuning refers to ________. A) how the communication media is altered to prevent the interference of noise B) the process of decoding the message at the receiver's end C) how senders tailor messages for specific recipients D) the process of generating feedback for the message

Q: To the extent that the across-the-table relationship among agents is strong, the likelihood of agreement is greater and settlements occur ________. A) in the middle of the bargaining zone B) near the reservation point of the other party C) near your target point D) near the target point of the other party

Q: Which of the following is an advantage of using agents? A) It increases your control over the process of negotiation. B) It decreases the problems of communication distortion. C) Use of agents increases the size of the bargaining zone. D) Agents usually have more expertise in the negotiation process.

Q: In the context of the principal-agent negotiation, which of the following statements is true regarding agents? A) Agents usually have less expertise in the negotiation process. B) Agents can provide emotional detachment and tactical flexibility. C) Agents decrease the likelihood of reaching an impasse. D) The use of agents expands the zone of possible agreement.

Q: During a multiparty negotiation, a few members of the group form a coalition. Some of those who are not part of the coalition try to persuade coalition members to leave, while the leaders of the coalition look for ways to keep it together. Which of the following is most likely to ensure that the coalition remains intact? A) avoid using brainwriting or solitary brainstorming B) ensure that negotiation employs sequential bargaining C) ensure that the plan for distribution of resources is fair D) prioritize reaching an agreement bias in the coalition

Q: In which of the following situations is the coalition likely to be the least stable? A) The coalition was formed early in the negotiation between members holding similar views. B) The coalition uses the Shapley model to determine the distribution of resources. C) The coalition uses the circular logrolling method to determine the costs that are to be incurred by each of its members. D) One of the members of the coalition regards the proposed allocation of resources to be unfair.

Q: Compared to egalitarian power relationships, unbalanced power relationships produce ________. A) fewer coalitions defecting from the larger group B) more integrative agreements C) greater likelihood of a bargaining impasse D) more cooperative behavior

Q: The ________ model determines the overall payoff a player can expect on the basis of his or her ability to change a losing coalition into a winning coalition. A) Raiffa B) Black-Scholes C) Bayesian D) Shapley

Q: The ________ occurs when negotiators focus on reaching common ground with the other party and are reluctant to accept differences of interest, even when such acceptance might create viable options for joint gain. A) confirmation bias B) primacy effect C) agreement bias D) ingroup bias

Q: Bernard is a marketing manager at Apex Inc. His team is developing a marketing strategy for launching a new product. Bernard knows that most groups suggest fewer and lower-quality ideas than do individuals thinking independently. So he asks his team members to write down their ideas independently and later, when the group meets, they share those ideas. Which of the following strategies is Bernard using in this case? A) the Delphi technique B) brainwriting C) the GRIT model D) circular logrolling

Q: During a negotiation, you feel that your group members are underestimating the number of feasible options available. You ask group members how many feasible agreements they think are possible. On average, people estimate that three feasible agreements are possible but you know that there are around 20 feasible outcomes. Based on this example you conclude that the group is experiencing the problem of ________. A) tunnel vision B) framing effect C) curse of knowledge D) bandwagon effect

Q: Samantha is involved in a multiparty negotiation. The group is discussing several issues and is generating several alternatives. It is difficult to keep track of all the issues, alternatives, and preferences being discussed. In such a situation, which of the following steps should Samantha take to enhance the ability of the group to find win-win agreements? A) Develop a crisis procedure for emergency communication. B) Use a process intervention in such a way that all the negotiators start using the interest-based approach. C) Use integrative bargaining strategies that encourage members to come up with creative alternatives to expand the size of the pie. D) Create a matrix which indicates the issues and preferences of all the negotiators.

Q: Which of the following statements best represents the multiple audience problem? A) People who are privy to information and knowledge that they know others are not aware of nevertheless act as if others are aware of it. B) People often hear what they want to hear when receiving messages from fellow negotiators, especially in the case of ambiguous messages. C) People tend to have a stronger preference for more immediate payoffs relative to later payoffs. D) In some negotiation situations, negotiators need to communicate with another person in the presence of someone who should not understand the message.

Q: In a negotiation, negotiators who possessed privileged information that could have been used to their advantage behaved as if the other negotiators also had access to the privileged information. This problem is known as the ________. A) framing effect B) curse of knowledge C) Condorcet paradox D) focusing effect

Q: Full-group communication ________. A) minimizes perceptions of competition B) is less time-consuming C) reduces equality of group members' outcomes D) decreases joint profitability

Q: During a multiparty negotiation, the negotiators involved in the negotiation are not able to take a decision. To break the stalemate, they opt for sequential voting. One of the negotiators, Ted, arranges to have his preferred alternatives entered during the later stages of the sequential voting process because he knows that the alternatives that are proposed later, as opposed to earlier, are more likely to survive sequential voting. Which of the following concepts is Ted using? A) the impossibility theorem B) the Condorcet paradox C) the curse of knowledge D) the framing effect

Q: The ________ states that the derivation of group preference from individual preference is indeterminate. A) anchoring bias B) impossibility theorem C) Condorcet paradox D) bandwagon effect

Q: Voting in combination with other decision aids, such as agendas, may be especially detrimental to the attainment of efficient outcomes because it ________. A) takes longer for parties to reach agreements B) fails to recognize the strength of individual preferences C) does not promote integrative tradeoffs among issues D) prevents participants from logrolling

Q: Ronald Transformers wants to open a new plant. After thorough research, the company has identified five suitable sites. There is conflict over which site to select, so management decides to put it to vote and then take the decision by majority rule. Despite its democratic appeal, the decision fails and the company has to stop the construction of the plant at the chosen site. Which of the following arguments best explains the reason behind this failure? A) The majority rule discouraged group members from implementing integrative bargaining strategies. B) The use of the majority rule created the problem of tunnel vision for participants. C) Use of the majority rule failed to take into consideration the strength of individual preferences. D) Use of the majority rule discouraged effective implementation of circular logrolling.

Q: Which of the following statements is true regarding the use of majority rule in negotiations? A) It is a very uncommon method of aggregating preferences. B) It recognizes the strength of individual preferences. C) It does not promote integrative tradeoffs among issues. D) It gives more efficient outcomes than unanimous rule.

Q: The most common procedure used to aggregate preferences of team members is ________. A) circular logrolling B) concurrent controlling C) reciprocal logrolling D) majority rule

Q: During a negotiation, the group members decide to use an integrative method of tradeoff that requires each group member to offer another member a concession on one issue while receiving a concession from yet another group member on a different issue. Which of the following methods of tradeoffs is used in this situation? A) feedforward controlling B) circular logrolling C) concurrent controlling D) reciprocal logrolling

Q: In a multiparty negotiation, the weak group members can obtain a greater share of resources by ________. A) using sequential bargaining B) revealing their reservation points C) using the rights-based approach D) uniting to form a coalition

Q: In the context of a multiparty negotiation, a(n) ________ is a (sub) group of two or more individuals who join together in using their resources to affect the outcome of a decision in a mixed-motive situation involving at least three parties. A) coalition B) quality circle C) association D) union

Q: Which of the following is most likely to be a key difference between two-party and group negotiations? A) decreased size of the bargaining zone B) possibility of forming a coalition C) increased use of power tactics during the negotiation D) increased use of integrative bargaining strategies

Q: Which of the following is a typical characteristic of a multiparty negotiation? A) the use of unanimity rather than majority rule B) an extremely narrow bargaining zone C) the presence of more than two principals D) the inability of participants to form coalitions

Q: Common-identity groups are composed of members who are attracted to particular members in the group.

Q: The team halo effect refers to the fact that teams tend not to be blamed for their failures as much as do individuals.

Q: Groups should aim to maximize agreement bias and use sequential bargaining.

Q: Brainwriting capitalizes on the fact that individuals are better at generating ideas but groups are superior in terms of evaluating ideas.

Q: Consensus agreements do not imply unanimity.

Q: In majority rule elections, alternatives that are proposed later, as opposed to earlier, are more likely to survive sequential voting.

Q: Within groups that demonstrate pro-self motives, majority rule leads to more integrative and less distributive behavior.

Q: Majority rule hinders the development of mutually beneficial trade-offs.

Q: Groups negotiating under majority rule reach more efficient outcomes than groups operating under unanimous rule.

Q: Reciprocal trade-offs are more risky than circular tradeoffs.

Q: Distinguish between inductive and deductive reasoning.

Q: Briefly explain the rational problem solving model.

Q: The phenomenon known as "choking" occurs when ________. A) a person strives to reach the flow experience and fails B) a person feels his or her abilities match the opportunities for action C) the person's skills outweigh the challenges of the experience D) the challenges of the experience are too great for a person's skill