ECONOMICS
DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Career
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Detailed explanation-1: -Several factors influence decision making. Those factors are past experiences, cognitive biases, age and individual differences, belief in personal relevance, and an escalation of commitment. Heuristics are mental shortcuts that take some of the cognitive load off decision-makers.
Detailed explanation-2: -This study addresses the influencing factors that are related to decision making, and categorizes them under five captions: Personal factors, organizational factors, Social factors, Environmental factors and behavioural factors.
Detailed explanation-3: -Weigh the pros and cons. Sometimes the cons aren’t nearly as bad as we imagine them to be, or the pros might make your options more obvious.
Detailed explanation-4: -Directive decision-makers. Analytic decision-makers. Conceptual decision-makers. Behavioral decision-makers. 09-Nov-2022