Decision-Making: Definition Decision making can be defined as (ref): the ability to choose between competing courses of action based on the relative subjective value of their probabilistic consequences Learning: Definition The capacity… to acquire or develop new, memories, knowledge or skills based on experience Today’s Mindware: Emotion Imbued Choice (EIC) Model The tutorial for this session builds on the rational choice decision-making model that we
Strategic thinking and action lies at the heart of our rationality and intelligence. It also enables us to both creatively conceive and realize our autonomous, purposeful and fulfilling ‘life projects’. Strategy: Definition & Examples We will use the following definitions: Strategic action promotes strategic advantage, and/or implements strategic plans. Strategic plans are high level plans to achieve goals under conditions of uncertainty. Strategic vision is intuitive, creative thinking about high-value envisioned futures.
A Cornell University study reveals that U.S. intelligence agents are more likely to make irrational life-death decisions than college students, basing their decisions on the superficial wording of the information rather than the real facts and probabilities. It’s not just intelligence agents that make irrational decisions, it’s everyone to a greater or lesser degree. In critical situations our decision making skills can be very shaky, no matter how high we
Fast (System 1) and Slow (System 2) thinking In this CBS video, cognitive psychologist and Nobel laureate Daniel Kahneman talks about when it’s best to think fast (using your instinct or intuition) and when to think slowly (using your analytic ability and reasoning). He calls the fast mode of thinking ‘System 1’ and the slow mode ‘System 2’. Working memory underpins System 2 thinking – enabling us to maintain and process short term information while thinking something through on our mental ‘scratchpad’. Kahneman is asked: When
Here is a well-defined strategy game played out in CBS’s Survivor in Thailand. The Game There are 21 flags planted in the field between two ‘tribes’ – Chuay Gahn and Sook Jai. Each tribe takes turns removing flags. Each tribe at its turn can choose to remove 1 or 2 or 3 flags. The team to take the last flag, whether standing alone or part of a group of 2 or 3 flags, wins the game. The first tribe – Sook Jai –
Neuroscientists at the University Medical Center Hamburg-Eppendorf have found a useful application for our own decision making, helping us to overcome the lure of instant gratification.