Summary and analysis of an article on decision making
Maria Lewicka indicates that people should choose the alternative with the highest sum of the products of estimated utilities and probabilities. A decision problem involves probabilities and utilities which are two important and independent variables in the decision making process. Additionally, people ascribe utilities and assess decisions using models of social cognitive (Rob & Ola, 91). How the evaluation of the decision is made is dependent on inherent factors surrounding the decision process. Such factors include how the decision is framed, its expected effects and the prevailing descriptive judgment.
In the decision making process, managers or leaders should ...