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Perhaps the most common "formal" approach to making a choice among alternatives is to list the pros and cons of each alternative. Certainly it would be wrong to calculate the net number of pros over cons for each alternative and then select the alt...
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A major challenge of almost all organizations today is finding a way to integrate the knowledge and expertise of their personnel in decision making and forecasting. In The Wisdom of Crowds, 1 James Surowiecki shows that under certain conditions ...
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Intuition alone is not sufficient for making complex, crucial decisions. The human brain is limited, in both short-term memory capacity and discrimination ability, to about seven things - plus or minus two. Decision-making for every complex, cruci...
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Loss aversion refers to the tendency to prefer avoiding a loss rather than acquiring an equivalent gain. This leads to risk aversion , which is when people prefer avoiding losses to making gains when they evaluate an outcome comprising similar ...
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Anchoring (or focalism) is a cognitive bias that describes the common human tendency to rely too heavily on the first piece of information offered (the "anchor") when making decisions. During decision-making, anchoring occurs when one uses an ini...
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Intuitive decision-making is described as the process by which information, acquired through associated learning and stored in long-term memory, is accessed unconsciously to form the basis of a judgment or decision. 1 Intuition is based on the i...
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Making decisions involves making tradeoffs among objectives; this is a difficult and poorly understood aspect of decision making. Decisions become difficult when they involve several competing objectives. The greater the number of objectives, th...
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There are numerous ways to identify objectives, alternatives, etc., although brainstorming may be the most common method. The main point of brainstorming is to generate as many ideas as possible. Get the right people – it is often useful to get to...
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You can add, edit and delete the participants' groups from DEFINE MODEL > Define Participants & Roles > Participants Groups page. Participant Groups can be used when: Setting up roles and Displaying results Groups are displayed a...
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The Participants Grid consists of the following columns: Participant Email - unique identifier and can't be modified Model Participant Name - participant name and can be modified A participant can have a different name on each Comparion ...