Managerial Decision Making

Question 1

1. Discuss framing and how it affects the decision-making process. Your response should consist of no less than 200 words

Question 2

1. 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 3

1. 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 4

1. Describe the concepts of joint and separate preference reversals. Also, discuss the similarities and differences that exist between the two. Your response should consist of no less than 200 words.