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Rational Decision Making (Paperback, 2010 ed.)
Loot Price: R2,189
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Rational Decision Making (Paperback, 2010 ed.)
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This book is designed to support you in making difficult decisions
in a more - tional way. Based on an established theoretical
foundation, it shows that simple requirements concerning rational
behavior lead to a general calculus of determ- ing optimal decision
alternatives; the book then goes on to present methods and
instruments useful for the practical implementation of these
concepts. Psychological research has uncovered a multitude of
systematic cognitive - ases associated with the intuitive decision
process, especially concerning the f- mation of preferences and
subjective probability judgments for uncertain events. These
developments have elevated prescriptive decision theory to the
status of an important discipline with increasingly strong
practical ties - nowadays, even m- agers are concerned with
decision trees, probability distributions and risk profiles. There
is also a wide range of software available on the market to aid
users with the use of the instruments. We would like to convince
you, by help of the many pr- tical questions and case studies
included with most chapters, that the material c- ered is not
purely an academic diet but also of high practical nutritional
value. The mindset suggested by the theory as an approach for
decision problems will surely be of much use to you both in your
private and professional life, even if you do not apply the
presented methods of decision making support in every little -
tail.
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