Professional Documents
Culture Documents
Two models of Decision making and how people actually implement them
Decisions by choice (Rational approach)
Logic of consequence Choice process: Alternative are selected by its consequences for preferences Ideally rational Has clarity Has the four must-haves Boundedly rational Ambiguous Satisficing Try to meet an acceptability threshold Examine a the list of options and make the decision with the first that looks next to the threshold. But it stops without looking at other possibilities Example My decision = max(Sum(utility*probability))
Other theories
Coalition Theory
Step 1: bargaining Step 2: execution
PreparedbyAriadna73
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