Decision Making Concepts
Conduct an Internet and literature search on the topic of the expected-value decision rule. Discuss your findings. In your discussion, review how the expected-value decision rule played a part in a recent decision you made.
Conduct an Internet and literature search on the topic of joint versus separate preference reversal. Discuss your findings. In your discussion compare and contrast joint and separate preference reversal.
Discuss your attitude about certainty, uncertainty, and risk when making decisions. How has your attitude helped or hindered your ability to make rational decisions?
Discuss your most recent decision to purchase a major item (entertainment center, automobile, home, etc.). In what way did the acquisition utility or the transactional utility come into play for you?
Answer Preview-Decision Making Concepts
