Question 1: 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?
Question 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?
Question 3: Describe the concepts of joint and separate preference reversals. Also, discuss the similarities and differences that exist between the two.
Question 4: Explain the concept of the expected-value decision rule. In your discussion, review how the expected-value decision rule played a part in a recent decision you made.
Managerial Decision Making is the class and here is the book: Bazerman, M. H., & Moore, D. A. (2009). Judgment in managerial decision making (7th ed.). Hoboken, NJ: Wiley.