PSYB57H3 Chapter 9: Chapter 9
Document Summary
Science of decision making: one way to make a decision is to weigh out the pros and cons of each alternative, normative/prescriptive theories are the theories that tell us what we should do. They work to increase the understanding of decision making. 1 www. notesolution. com: decision tree defines alternatives, beliefs (about likelihoods) and consequences abcs of decision: i. Alternatives are different courses of action, options, choices and strategies available to the decision maker and they are represented as branches of the tree. Usually there are large number of alternative but for the sake of decision making, they are narrowed down as much as possible. The discovery and articulation of the alternatives involves problem solving ii. Belief is an estimate of the likelihood that a particular outcome will occur if we choose a particular alternative. Consequences are the benefits of losses that you receive or experience from the choice of a particular alternative and the events that follow from that choice.
