Managerial Decision Making Class -200 WORDS EACH
Question 1
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.
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
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 4
Describe the concepts of joint and separate preference reversals. Also, discuss the similarities and differences that exist between the two.
Question 5
Discuss a recent decision that you made (purchase an automobile or home, change jobs, etc.). How did motivation and emotions influence your decision? Did you experience any internal conflict (a battle between what you wanted versus what you should do)? How did you resolve this conflict?
Question 6
Lately, the stock market has experienced unprecedented volatility - wild ups and downs. Discuss how stock trading has created a lot of this volatility and the decisions for stock traders to buy and sell wildly in terms of hyperbolic discounting.
Question 7
Report on a decision that you were a part of or had witnessed in your organization where personal motivation and/or emotions on the part of decision maker(s) may have caused a sub-optimal decision to be made.
Question 8
The news has been full of stories lately about the stock market problems, sub-prime mortgages, and ponzi schemes. All of these required people to make decisions. Research one of the stories and discuss how motivation influenced people to make such terrible decisions. Had exponential discounting played a part in the decision(s) that you had researched. If so, how?
DQ-200 WORDS
1. When making a decision, how do you see yourself as a risk taker? Are you risk-averse or do you tolerate risk. To what do you attribute your views on risk taking?
2. Discuss your feelings about the multiple-selves theory. Do you feel the pull between what you want and what should be done? How have you reconciled these differences in the past?