Theories, models, and decision making
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Title: Theories, models, and decision making

Essay Details:

Subject: Psychology
Date: February 16, 2015
Level: University
Grade: B
Length: 3 / 811

Essay text:

93). Other models are described as descriptive models of decision making which is a model of how people actually make decisions. There are many different reasons why people make the decisions that they do and many different models, theories and principles that explain those reasons. If all the people in the world were perfectly rational decisions makers then evaluating the problems for activity one and choosing the correct alternatives would be calculated and the expected utility maximized (Plous, 1993, p. 95). According to the expected utility theory the correct answer to activity one should have been Alternative A in the first problem and Alternative A in the second problem or Alternative B in the first problem and Alternative B in the second problem...

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