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Author Question: Why do we make so many errors in decision making, according to the theory of bounded rationality? (Read 91 times)

itsmyluck

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on: Oct 8, 2020

Question 1

Why do diagrams sometimes facilitate problem solving?

◦ They aid in the search for analogies.
◦ They change the representation of the problem.
◦ They make it easier to execute algorithms.
◦ They relax constraints on problem solutions.

Question 2

Why do we make so many errors in decision making, according to the theory of bounded rationality?

◦ Our brains have evolved to solve problems that are different from many of the problems we currently face in our modern environment.
◦ We are incapable of actually considering all the factors necessary to make an optimal decision.
◦ We have poor mathematical abilities, and so we miscalculate risks and benefits.
◦ We are far too affected by our emotions to make difficult decisions.
Psychology: Themes and Variations ¦ Weiten, McCann ¦ 5th Edition
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Marked as best answer by itsmyluck on Oct 8, 2020

jrpg123456

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Reply #1 on: Oct 8, 2020
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itsmyluck

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Reply 2 on: Oct 8, 2020
Wow, this really help

chereeb

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Reply 3 on: Yesterday
:D TYSM

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