Decisions always need to be rational

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Reference no: EM1334134

Part 1: Review each situation (there are multiple scenarios within the activity) and identify which decision concept (theory, principle, model, etc.) from our learning you believe to be present. Make sure you also explain (for each concept identified) "how" and "why" you arrived at your conclusion. In other words; what information helped you select each concept for each situation?

Part 2: Look at the different decision concepts you identified in part 1. What do you think those different concepts imply about how people make decisions?

Part 3: Do the decisions we make always need to be rational? Under what circumstances are we (decision makers) likely to make irrational choices?

Reference no: EM1334134

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