decision basics
Post on 01-Jan-2016
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Agenda
More TED! – Barry Schwartz ▪ “The Paradox of Choice”
Decisions since last class? Decision basics
Two Features of Decision-Making
#1: Problem structuring ▪ Identification of: ▪ Alternatives▪ Values that differentiate alternatives▪ Uncertain events
BEAUTYDullness
Two Features of Decision-Making
#2: Evaluation ▪ Weighing: ▪ Desirability of outcomes ▪ Uncertain events
BEAUTYDullness
Are the means good enough?
Decision problems:▪ Hard to determine if solutions are good
enough!
PORTLAND
Seatt
le
Are the means good enough?
Decision problems:▪ Hard to determine if solutions are good
enough!
PORTLAND
Seatt
le
Decisions, Evolution, and Work
We haven’t evolved into decision analysts… it takes work and cognitive tools!
…Capacity of judging rightly in matters relating to life and conduct; soundness of judgment in the choice of means and ends.
Wisdom defined:
Common Objections to Decision Analysis…
Walt Whitman - “Be a more of a free spirit to better appreciate life”▪ Easier to appreciate life this way in between
decisions, not during them
Analyzing decisions places too much weight on what is quantifiable and ignores the other stuff▪ Decision analysis quantifies the
“unquantifiable”
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