f. identify challenges to ethical behavior

Command word

• Identify: To recognize and correctly name
  • Identify and describe the desirable properties of an estimator
  • Identify the functions of a central bank

Flash cards

Name the two challenges to ethical behavior 1. The overconfidence bias 2. Situational influences

Why can overconfidence bias be a challenge to ethical behavior? Overconfidence bias is a challenge to ethical behavior because we assume we are good people and sometimes make decisions based on our own moral compass without serious ethical reflection.

Why can situational influences be a challenge to ethical conduct? Situational influences can motivate people to act in their short-term interests without recognizing the long-term risks or consequences for themselves or others.

What are some potentially bad situational influences? Financial rewards, prestige, and loyalty to an employer and colleagues.