MGHB02H3 Lecture : Chapter 11 lecture notes
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7 pooling of resources lots of people specialization of labour greater acceptance of the decision that is made. Steps to take for survival: keep warm, build a shelter, signal for help. N members who have complementary skills skills are not identical, but play off each other. N when an expert opinion is required on some subject. N will be able to process in a clean and unbiased fashion. N recognizes that decision makers have a limited view of problems. N satisfice they select the first available alternative solution that comes to them. N bounded rationality people don"t have access to all info and also lack cognitive skills to solve complex problems. N www. notesolution. com the tendency to make different decisions based on how a problem is presented positive framing makes decision makers risk averse (avoid risk) negative framing makes decision makers risk seekers.
