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What is Risk propensity?

40. In the bounded rationality model, an individual or team stops searching for alternatives as soon as an acceptable (“good enough”) goal or solution is discovered.  This is referred to as:
a.
limited search
b.
settling
c.
availability phenomena
d.
None of these


ANS:  A                  

   41.   _____ is a process of continuing or increasing the allocation of resources to a course of action even though a substantial amount of feedback indicates that the choice made is wrong.
a.
Limited search
b.
Escalating commitment
c.
Availability phenomena
d.
None of these


ANS:  B                   

   42.   When individuals and teams stop looking for possible goals or solutions to a problem after finding one that seems adequate, they have engaged in ____.
a.
limited search
b.
risk propensity
c.
escalating commitment
d.
emotional block


ANS:  A                   

   43.   _____is the tendency of an individual or team to make or avoid decisions in which the anticipated outcomes are unknown. 
a.
Risk propensity
b.
Balancing interests
c.
Risk commitment
d.
Balancing effects


ANS:    A
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