http://www.google.com/notebook/feeds/09859336497580798442/notebooks/BDSdfIgoQ_c3e__Yh2009-07-04T03:22:45.861Zdecision-making Glossary of selected Judgement and Decision-making, Belief-related, and other Psychology termsGoogle Notebook1110http://www.google.com/notebook/feeds/09859336497580798442/notebooks/BDSdfIgoQ_c3e__Yh/NDQX9IgoQlNjh__Yh2006-12-11T05:24:48.788Z2009-07-04T03:22:45.861ZDecision-making
The process of choosing between alternatives – ...<div><span style="font-size:8.5pt;color:red;font-family:Arial"> </span></div>
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<p style="margin:0cm 0cm 0pt"><i><span style="font-size:8.5pt;color:red;font-family:Arial">Decision-making</span></i><span style="font-size:8.5pt;color:red;font-family:Arial"></span></p>
<p style="margin:0cm 0cm 0pt"><span style="font-size:8.5pt;color:red;font-family:Arial">The <a href="http://www.google.com/notebook/public/09859336497580798442/BDQNsIgoQ1NLmyPgh"><span style="color:#990000"><font face="arial,sans-serif" color="#990000">process</font></span></a> of choosing between <a href="http://www.google.com/notebook/public/07491261619920101511/BDRWLIwoQyqChnpUi"><span style="color:#990000"><font face="arial,sans-serif" color="#990000">alternatives</font></span></a> – generating, </span><span style="font-size:8.5pt;color:maroon;font-family:Arial"><a href="http://www.google.com/notebook/public/09859336497580798442/BDRqDIgoQ-Mnf3PQh"><span style="color:#990000"><font face="arial,sans-serif" color="#990000">evaluating</font></span></a></span><span style="font-size:8.5pt;color:red;font-family:Arial">, and selecting amongst a set of </span><span style="font-size:8.5pt;color:maroon;font-family:Arial"><a href="http://www.google.com/notebook/public/07491261619920101511/BDRreIgoQ853VyIsi"><span style="color:#990000"><font face="arial,sans-serif" color="#990000">relevant</font></span></a></span><span style="font-size:8.5pt;color:red;font-family:Arial"> choices.</span></p>
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<p style="margin:0cm 0cm 0pt"><span style="font-size:8.5pt;color:red;font-family:Arial">Rather easier decisions concern a relative certainty about both the </span><span style="font-size:8.5pt;color:maroon;font-family:Arial"><a href="http://www.google.com/notebook/public/09859336497580798442/BDQzhIgoQ59aZ-fch"><span style="color:maroon"><font face="arial,sans-serif" color="#990000">facts</font></span></a></span><span style="font-size:8.5pt;color:red;font-family:Arial"> and the </span><span style="font-size:8.5pt;color:maroon;font-family:Arial"><a href="http://www.google.com/notebook/public/09859336497580798442/BDQzhIgoQ1IXUofgh"><span style="color:maroon"><font face="arial,sans-serif" color="#990000">values</font></span></a></span><span style="font-size:8.5pt;color:red;font-family:Arial"> involved in them. For example, regular television viewers will have a pretty good idea of what content they wish to watch at eight o’clock on a Sunday evening: what’s being broadcast at that time, the nature of the shows </span><span style="font-size:8pt;color:red;font-family:Verdana">‘</span><span style="font-size:8.5pt;color:red;font-family:Arial">on offer</span><span style="font-size:8pt;color:red;font-family:Verdana">’</span><span style="font-size:8.5pt;color:red;font-family:Arial">, and what the viewer likes. Decision-makers know what they will get from the decision, and they know what they’ll be likely to get if they take any of the other principal courses-of-action, e.g., how enjoyable for them the alternatives are on the other stations – leaving aside such things as VCR/DVD/USB, etc., recording, internet </span><span style="font-size:8pt;color:red;font-family:Verdana">“</span><span style="font-size:8.5pt;color:red;font-family:Arial">on demand</span><span style="font-size:8pt;color:red;font-family:Verdana">”</span><span style="font-size:8.5pt;color:red;font-family:Arial"> viewing if available, or being able to display or monitor more than one station’s broadcasts at once, etc.</span></p>
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<p style="margin:0cm 0cm 0pt"><span style="font-size:8.5pt;color:red;font-family:Arial">Decision-making </span><i><span style="font-size:8.5pt;color:#ee0000;font-family:Tahoma">becomes more difficult when there is uncertainty</span></i><span style="font-size:8.5pt;color:red;font-family:Arial">, either about what will happen or about what one wishes to happen. A </span><span style="font-size:8.5pt;color:maroon;font-family:Arial"><a href="http://www.google.com/notebook/public/09859336497580798442/BDRQYIwoQ6rbZ__Yh"><span style="color:maroon"><font face="arial,sans-serif" color="#990000">decision</font></span></a><font face="arial,sans-serif" color="#990000"> </font><a href="http://www.google.com/notebook/public/09859336497580798442/BDQ0HIwoQn6P___Yh"><span style="color:maroon"><font face="arial,sans-serif" color="#990000">situation</font></span></a></span><span style="font-size:8.5pt;color:red;font-family:Arial"> can be made deceptively easy if the decision-maker fails to </span><span style="font-size:8.5pt;color:maroon;font-family:Arial"><a href="http://www.google.com/notebook/public/09859336497580798442/BDSBGIgoQhKvxj_wh"><span style="color:maroon"><font face="arial,sans-serif" color="#990000">consider</font></span></a></span><span style="font-size:8.5pt;color:red;font-family:Arial"> significant complicating factors: ignoring the </span><span style="font-size:8.5pt;color:maroon;font-family:Arial"><a href="http://www.google.com/notebook/public/09859336497580798442/BDRzpIgoQyv3Rzvch"><span style="color:maroon"><font face="arial,sans-serif" color="#990000">uncertainty</font></span></a></span><span style="font-size:8.5pt;color:red;font-family:Arial">, disregarding any confusion over the relative importance of one’s values in the situation, etc. It can also be made more difficult, for example, by failing to recognize important simplifying facts about the world pertinent to the decision-maker and their situation or a certain unclarity by the decision-maker about what really matters to them, etc.</span></p>
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<p style="margin:0cm 0cm 0pt"><span style="font-size:8.5pt;color:red;font-family:Arial">When faced with decisions in life </span><span style="font-size:8.5pt;color:maroon;font-family:Arial"><a href="http://www.google.com/notebook/public/09859336497580798442/BDQtSDQoQo7OVzc4j"><span style="color:#990000"><font face="arial,sans-serif" color="#990000">decision-makers must often grapple with uncertainty</font></span></a></span><span style="font-size:8.5pt;color:red;font-family:Arial">.</span></p><span style="font-size:8.5pt;color:red;font-family:Arial">
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<p style="margin:0cm 0cm 0pt"><span><span style="font-size:8.5pt;color:maroon;font-family:Tahoma"><span style="font-size:8.5pt;color:maroon;font-family:Tahoma"><a href="http://www.google.com/notebook/public/09859336497580798442/BDQNsIgoQ_OeShv4h"><span style="color:maroon"><em><font color="#990000">Rational</font></em></span></a></span><span style="font-size:8.5pt;color:red;font-family:Arial"><span style="font-size:8.5pt;color:red;font-family:Arial"><span> </span>decision-making can only be </span></span></span></span><span style="font-size:8.5pt;color:maroon;font-family:Arial"><a href="http://www.google.com/notebook/public/09859336497580798442/BDRqDIgoQ-Mnf3PQh"><span style="color:maroon"><font face="arial,sans-serif" color="#990000">evaluated</font></span></a></span><span style="font-size:8.5pt;color:red;font-family:Arial"> in light of the </span><span style="font-size:8.5pt;color:maroon;font-family:Arial"><a href="http://www.google.com/notebook/public/09859336497580798442/BDQ5UIgoQk-Gaw4Mi"><span style="color:maroon"><font face="arial,sans-serif" color="#990000">objective</font></span></a></span><span style="font-size:8.5pt;color:red;font-family:Arial"> the </span><span style="font-size:8.5pt;color:maroon;font-family:Arial"><a href="http://www.google.com/notebook/public/09859336497580798442/BDRQYIwoQ6eGejf8h"><span style="color:maroon"><font face="arial,sans-serif" color="#990000">actor</font></span></a></span><span style="font-size:8.5pt;color:red;font-family:Arial"> has in view, with the stipulation that the decision made is most </span><span style="font-size:8.5pt;color:maroon;font-family:Arial"><a href="http://www.google.com/notebook/public/09859336497580798442/BDRPpIgoQ6cTE_f8h"><span style="color:maroon"><font face="arial,sans-serif" color="#990000">likely</font></span></a></span><span style="font-size:8.5pt;color:red;font-family:Arial"> to accomplish this end and assuming that the decision-maker’s knowledge of the situation and related information is minimally sufficient to allow the selection of an </span><span style="font-size:8.5pt;color:maroon;font-family:Arial"><a href="http://www.google.com/notebook/public/09859336497580798442/BDQ0HIwoQ2_zfyPgh"><span style="color:maroon"><font face="arial,sans-serif" color="#990000">action</font></span></a></span><span style="font-size:8.5pt;color:red;font-family:Arial"> or actions liable to achieve a suitable </span><span style="font-size:8.5pt;color:maroon;font-family:Arial"><a href="http://www.google.com/notebook/public/09859336497580798442/BDR1XIgoQ2_7dzvch"><span style="color:maroon"><font face="arial,sans-serif" color="#990000">outcome</font></span></a></span><span style="font-size:8.5pt;color:red;font-family:Arial">.</span></p>
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<div></div></span><span style="font-size:8.5pt;color:red;font-family:Arial">(see also:<span style="font-size:8.5pt;color:red;font-family:Arial"><span> </span></span><span style="font-size:8.5pt;color:maroon;font-family:Arial"><a href="http://www.google.com/notebook/public/09859336497580798442/BDSGpIgoQi73vxZoj"><span style="color:maroon"><font color="#990000">decision analysis</font></span></a></span><span style="font-size:8.5pt;color:red;font-family:Arial">, </span></span><span style="font-size:8.5pt;color:red;font-family:Arial"><a href="http://www.google.com/notebook/public/09859336497580798442/BDRh0IgoQt7bl3PQh"><span style="color:#990000"><font face="arial,sans-serif" color="#990000">judgement</font></span></a></span><span style="font-size:8.5pt;color:#990000;font-family:Arial">, </span><span style="font-size:8.5pt;color:red;font-family:Arial"><a href="http://www.google.com/notebook/public/09859336497580798442/BDRQYIwoQ6rbZ__Yh"><span style="color:#990000"><font face="arial,sans-serif" color="#990000">decision</font></span></a></span><span style="font-size:8.5pt;color:#990000;font-family:Arial">, </span><span style="font-size:8.5pt;color:red;font-family:Arial"><a href="http://www.google.com/notebook/public/07491261619920101511/BDQ9oIgoQjraO_eci"><span style="color:#990000"><font face="arial,sans-serif" color="#990000">counterfactual reasoning</font></span></a></span><span style="font-size:8.5pt;color:#990000;font-family:Arial">,<font face="arial,sans-serif" color="#990000"> </font></span><span style="font-size:8.5pt;color:red;font-family:Arial"><a href="http://www.google.com/notebook/public/09859336497580798442/BDQeQIgoQh57k__Yh"><span style="color:#990000"><font face="arial,sans-serif" color="#990000">attitude</font></span></a>, </span><span style="font-size:8.5pt;color:maroon;font-family:Arial"><a href="http://www.google.com/notebook/public/09859336497580798442/BDQtSDQoQo7OVzc4j"><span style="color:#990000"><font face="arial,sans-serif" color="#990000">decision-making under uncertainty</font></span></a></span><span style="font-size:8.5pt;color:red;font-family:Arial"><span style="font-size:8.5pt;color:red;font-family:Arial">, <span style="font-size:8.5pt;color:maroon;font-family:Arial"><a href="http://www.google.com/notebook/public/09859336497580798442/BDQrTDAoQ6JPr8OMj"><span style="color:maroon"><font color="#990000">statistical decision-making</font></span></a></span>, <span style="font-size:8.5pt;color:maroon;font-family:Arial"><a href="http://www.google.com/notebook/public/09859336497580798442/BDQrTDAoQopiyguAj"><span style="color:maroon"><font face="arial,sans-serif" color="#990000">Decisions – some questions probing ethical dimensions of</font></span></a></span>)</span></span>
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