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Decision Making Approaches
General Framework
Outline the meaning of Rationality, Bounded Rationality and Intuitive approaches to decision making.
Individual Components
1. Demonstrate a specific example of Rationality using Decision Trees
2. Demonstrate a specific example of Rationality using either a Payoff Matrix or Multivariate Analysis
3. Find and describe an example of an Intuitive approach to decision making
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Time (in Days) Activity Immediate Predecessor Optimistic Most Likely Pessimistic A - 3 6 8 B - 2 4 4 C - 1 2 3 D C 6 7 8
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