Assignment:
1. Describe the concepts of joint and separate preference reversals. Also, discuss the similarities and differences that exist between the two.
2. Discuss your attitude about certainty, uncertainty, and risk when making decisions. How has your attitude helped or hindered your ability to make rational decisions?
3. Discuss framing and how it affects the decision-making process.
4. Discuss your most recent decision to purchase a major item (entertainment center, automobile, home, etc.). In what way did the acquisition utility or the transactional utility come into play for you?