If you have ever watched the game show deal or no deal you, Ask an Expert

Management Studies

Q1) If you have ever watched the game show "Deal, or no deal" you have seen a real-world lesson in the tendency of people to be risk-adverse about gains. Observe the offers of the banker. The banker's offer is virtually always below the statistically expected payoff for continuing the game. Yet, quite often people will accept the banker's offer.

In organizations we see paralysis induced by people's greater attention to the risk of change as opposed to the risk of not changing. The "better the devil you know" mentality. In your organizations, how have leaders dealt with this situation?

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Business Management, Management Studies

Category:- Business Management
Reference No.:- M9209429

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