Would you flip a coin for the chance of winning

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INTRODUCTION

Would you flip a coin for the chance of winning two dollars? What if you were given a dollar and offered the chance to flip a coin to either gain a second dollar or lose the first? Which wager seems more appealing-the first or the second?

Far more people choose the first wager than the second. Both scenarios have exactly the same probability of outcomes: a 50% chance of ending up with nothing, and a 50% chance of ending up with two dollars. Why might the first wager appeal to people? Do we always make the best possible decision?

Impediments are factors that can hinder decision making. While they often vary by situation, common impediments exist that might influence decision making in general.

In this Discussion, you explain a difficult decision you have made. You also describe impediments that you faced when making this decision, as well as common decision-making impediments.
With these thoughts in mind:

Post by Day 4 a brief description of a recent difficult decision you made between two or more alternatives. Then explain the nature of two impediments that you faced in making the decision. Finally, describe two common impediments to optimal decision making.

Verified Expert

Taking up a right or optimal decision depends on several factors. The key features to consider are the impediments in letting a decision to be taken up. Impediments in decision making happen due to variety of causes and traits. The discussion provided here is a personal experience impacted by impediments of decision making process. Also discussed about few other impediments that can affect the optimal decision making process.

Reference no: EM131240007

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inf1240007

10/19/2016 8:21:55 AM

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len1240007

10/12/2016 6:31:00 AM

References are here. I need at least one or two of these references included at the bottom of the paper, Thanks Bonner, B. L. (2004). Expertise in group problem solving: Recognition, social combination, and performance. Group Dynamics: Theory, Research, and Practice, 8(4), 277-290. Burns, K., & Bechara, A. (2007). Decision making and free will: A neuroscience perspective. Behavioral Sciences & the Law, 25(2), 263-80. . Johansson, P., Hall, L., Silkstrom S., & Olsson, A. (2005). Failure to detect mismatches between intention and outcome in a simple decision task. Science, 310(5745), 116-119. . Osman, M. (2008). Positive transfer and negative transfer/antilearning of problem-solving skills. Journal of Experimental Psychology: General, 137(1), 97-115. Sanfey A. G., Loewenstein, G., McClure, S. M., & Cohen, J. D. (2006). Neuroeconomics: Cross-currents in research on decision-making. Trends in Cognitive Science, 10(3), 108-116. .Sio, U. N., & Ormerod, T. C. (2009). Does incubation enhance problem solving? A meta-analytic review. Psychological Bulletin, 135(1), 94-120. .Weber, E. U., & Johnson, E. J. (2009). Mindful judgment and decision making. Annual Review of Psychology, 60, 53-85

len1240007

10/12/2016 6:30:08 AM

I need this assignment done with the references listed below included. All I need is one page and it is due by Friday. Thanks

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