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The expected-utility theory describes how people really act, but how people would really act if they followed certain requirements of rational decision making. This theory of the decision making process helped us arrive at a consensus decision. Expected-utility theory helped us because by using alternatives and adopting strategies that was in comparison of bad or good; we were able to find ways to reduce the effects of groupthink and eventually help our corporation become better. (Plous, 2007)
We also used some paradoxes in rationality of the decision making process. The most used of the paradoxes, I believe is the Allais paradox...
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Common topics in this essay:
- DECISION MAKING
- Decision Making
- Decision Making
- Decision making
- Decision-Making Model Analysis: 7-Step Decision-Making Model
- decision making
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- decision making
- decision making
- Group decision making
- Group decision making: Two sides of the coin
- Values Based Decision-Making
- Making Decision
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- decision making
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