PSYCH207 Chapter Notes - Chapter 11: Expected Utility Hypothesis, Availability Heuristic, Representativeness Heuristic
8 Dec 2016
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Decision making: mental activities that take place in choosing among alternatives. Typically, decisions are made in the fact of some amount of uncertainty. Psychologist generally argue that the goodness of decision making is measured by the success of individual decisions-luck often plays a big role. Instead the yardstick of success is often taken to be the rationality of the decision. Rational decision making has to do with selecting ways of thinking and acting to serve your ends or goals or moral imperatives, whatever they may be, as well as the environment permits. (winterfeldt and edwards, 1986). In other words, to be rational means to consider all your relevant goals and principles, not just the first ones that come to mind. It requires you to examine not only evidence that supports your initial inclination but also the evidence that does not.
