
201 – Valued Items Auction
Purpose/Objectives: Although decision-making procedures can be taught and
demonstrated with various exercises, the values that
underlie decisions are sometimes more difficult to high-
light. This exercise helps managers understand how
values influence decisions.
Participants are asked to study a list of nine items in
the Valued Items Auction, then asked to bid on those
items using an allotment of funds. After making their
individual bids or decisions, participants are asked to
defend their choices. The discussion produces some
honest examination of the underlying reasons for many
decisions—decisions that are often ...