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Decision Making (Errors (Overconfidence, Immediate gratification,…
Decision Making
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Methods
Rationality
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Assumes:
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Single, well defined goal to be achieved
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Bounded Rationality
Decisions made within the parameters of a simplified model that captures the essential features of a problem
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Styles
Linear
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Process information through rational, logical thinking
Non-Linear
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Process information through internal insights, feelings and hunches
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