Tag: decision making
Featured article: The Ethics of Information-Gap Decision Making by William J. Davis, Jr. and Penny Koerner Not taking risks one doesn’t understand is often the best form of risk management. – Raghuram G. Rajan Classic decision-making theory incorporates three echelons of information required to make a decision: certainty, risk, and uncertainty. Information-gap theory provides models […]
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Featured article: What Were You Thinking? Biases and Rational Decision Making by Ted Thomas and Robert J. Rielly In general, we expect people to think and act rationally. Market theories, negotiations, and other human endeavors are based on people reacting and thinking in sane, rational ways. It is based on an assumption that we are […]
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