overview stuff Flashcards
1
Q
What can be mentioned for decisions involving multiple objectives?
A
Fast + Frugal heuristics
lexicographical ordering/semi ordering
elimination by aspects
satisficing
reason based choice
2
Q
what can be mentioned for decisions involving risk?
A
risk homeostasis
prospect theory
3
Q
what are the two elements of prospect theory?
A
1 - probabilities (over/under low/high, certainty effect)
2 - outcomes (reference points, hate losses more than love gains, risk averse/seeking).
4
Q
What methods can be used to overcome group decision making biases?
A
Decision conferencing
mathematical aggregation
Delphi method
