What are some common decision-making biases and heuristics that can impact decision quality?
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What are some common decision-making biases and heuristics that can impact decision quality?
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- How does decision theory address the concept of bounded rationality in decision- making?How does decision theory deal with decision-making in situations involving multiple criteria or objectives?What are the limitations and criticisms of decision theory as a framework for decision- making? Are there alternative theories or approaches that address these limitations?
- How do decision theorists approach decision-making in complex and dynamic environments?In order to apply decision theory in practice, what are the key characteristics that a decision should have?What principles form the basis of the rational decision-making model and what are its major dimensions? What is the difference between that and the bounded rational approach to decision-making.