ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -From a cognitive science perspective, most decision-making errors boil down to logical fallacies (over-generalizations, comparing apples and oranges, circular thinking), limiting beliefs (underestimations of what’s possible), and judgment biases (valuing certain factors above others), Ram explains.

Detailed explanation-2: -1] Making routine choices and judgments. When you go shopping in a supermarket or a department store, you typically pick from the products before you. 2] Influencing outcomes. 3] Placing competitive bets. 4] Making strategic decisions. The constraint of decision making research.

Detailed explanation-3: -Directive. The directive decision-making style uses quick, decisive thinking to come to a solution. Analytical. Analytical decision-makers carefully analyze data to come up with a solution. Conceptual. Behavioral. 09-Oct-2020