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Printable Handouts
Navigable Slide Index
- Introduction
- Why care about decision making?
- The problem solving process
- Guidelines for problem definition
- Identify alternative solutions
- Evaluate and choose an alternative
- Example - screening table for compact cameras
- Screening approaches
- Scoring approaches (1)
- Scoring approaches (2)
- Implement the decision
- Example - escalation of commitment
- Minimizing the dangers of commitment escalation
- Monitor and control decision outcomes
- The “ideal world” for decision making
- “Real-world” constraints on decision making (1)
- “Real-world” constraints on decision making (2)
- “Real-world” constraints on decision making (3)
- Behavioral decision making
- Key issues in behavioral decision making
- Simon’s behavioral model of rational choice
- Simon’s task
- Herbert Simon
- The administrative model
- Humans are satisfiers, not optimizers
- Models of decision making
- Heuristics
- Tversky & Kahneman
- Some important heuristics
- Availability
- Availability due to salience
- Availability bias due to presumed associations
- Example - snipers
- Representativeness
- Anchoring and adjustment example
- The default heuristic
- Hindsight and the curse of knowledge
- Overconfidence bias
- Overconfidence example
- Calibration
- Guidelines for minimizing overconfidence
- Schemas, scripts and script processing (1)
- Schemas, scripts and script processing (2)
This material is restricted to subscribers.
Topics Covered
- Importance of Decision Making
- Problem Solving Process
- Problem Definition
- Alternative Generation
- Divergent Thinking
- Choice Making Approaches
- Convergent Thinking
- Escalation of Commitment
- Contingency Planning
- Constraints on Decision Making
- Cognitive Limitations
- Perception
- Selective, Subjective
- Group Polarization
- Rational Economic Model
- Limits of Rationality
- Behavioural Decision-Making
- Simon’s Administrative Model
- Satisficing
- Bounded Rationality
- Heuristics
- Availability, Representativeness, Anchoring and Adjustment, Default
- Biases
- Hindsight Bias, Overconfidence Bias
- Schemata and Scripts
Talk Citation
Aldag, R.J. (2014, August 7). Decision making 1 [Video file]. In The Business & Management Collection, Henry Stewart Talks. Retrieved August 31, 2024, from https://doi.org/10.69645/WOYX2041.Export Citation (RIS)
Publication History
Decision making 1
Published on August 7, 2014
46 min