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Decision Making (3. Fallacies (Gambler's Fallacy, Conjuction Fallacy,…
Decision Making
2. Heuristic & Biases
Heuristic
Mental shortcut
Satisficing
Elimination by aspects
Representative Heuristic
Availability Heuristic
Anchoring
Framing
Biases
Overconfidence
Hindsight Bias
Illusory Correlation
3. Fallacies
Gambler's Fallacy
Conjuction Fallacy
Sunk-Cost Fallacy
1. Classical Decision Theory
Model of Economic Man & Woman
Infinitely Sensitive
Fully rational
Full informed
Subjective Expected Utility Theory
Subjective utility
Subjective probability
4. Group Decision Making
benefit
Common mindset
Identification with the group
Communicate openly
Agreement on group behavior
Small group
Group Think
Rationalization
Squelching of Dissent
Closed Mindedness
Formation of "mindgroup"
Feeling invulnerable
Feeling Unanimous
"My sheep hear My voice, and I know them, and they follow Me;
John 10:27
~ SOLI DEO GLORIA ~