INST 354 Lecture 7: INST354 Lecture 7: Quality of Choice

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If we aspire to give advice about how to make good decisions, we need to say something about what we mean by bad decisions. The quality of a decision cannot be determined unambiguously by its outcome. Moreover, we would regard the person who accepted such a wager as a poor decision maker even if he or she happened to roll snake eyes. A general who is losing a war, for example, is much wiser to engage in a high-risk military venture than is a general who is winning a war. The failure of such a venture might not reflect unfavorably on the decision-making ability of the losing general; it is more rational for the losing general to take a risk. Often the term is used in a purely egocentric, evaluative sense: As we said at the outset, good decisions are those that choose means, available in the circumstances, to achieve the decision maker"s goals.

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