lecture_march_22 - Satisfying decision making model For...

Info icon This preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
3/22/11 Dr. Cleveanger played a game enigma about how 1 time/single use plans are more valuable than we give them credit for Rational optimizing decision making model o Identify the problem o Identify all alternatives o Identify all criteria o Weight all criteria o Evaluate each alternative for each criteria o Calculate a weighted average for each alternative Use the model above for decisions with big costs/risks to you Bounded rationality: restricted from considering all things We as humans can’t use the rational decision making model because: We’re limited on time and have bounded rationality
Image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Satisfying decision making model: For busy people For decision making that won’t make that big of difference if you mess It up The cost to recover is easy Intuitive decision making model: One time/single use Using intuition Cognitive complexity: the study of how people make intuitive decisions through experience Implicit favorite: You want something, and go back to find reasons why this is the right decision for you. Rationalizing for something you want...
View Full Document

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern