Psychology 3130A/B Study Guide - Final Guide: Decision-Making, Loss Aversion, Risk Aversion
13 Apr 2016
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What is decision making: reducing uncertainty. Humans don"t like uncertainty, we tend to prefer certain outcomes. All things being equal, you want to be able to get the most out of what you put into it. 4 steps that ppl go through either, implicitly or explicitly. Identification: recognition of the decision that needs to be made. Should i buy a new ipod : framing of decision semantics and linguistic factors can influence what appears to be the best option. On sale : the generation of possible decision alternatives affected by. Reduced working memory capacity if you have to make decision quickly. Evaluation (of alternatives: as decision alternatives are generated, the decision-maker evaluates them. Selection (decision: the selection of a decision alternative can have immediate consequences (or not, once a decision is made, the decision maker can engage in. Many decisions are carried out with no difficulty: however, problems often occur.
