1)Explain rational decision-making, and briefly discuss the six steps needed to achieve rational decision-making. â€“ 200 words or more ( references should not count towards word count)
the six steps are: 1) define the problem, 2)Identify the criteria, 3) weight the criteria, 4)generate alternatives 5) Rate each alternative on each criterion, 6) compare the optimal decision
2)Describe the three forms of overconfidence, and give examples of how overconfidence has caused some bad historic decisions.
The three forms are: Over precision, overestimation and over placement
200 words or more ( references should not count towards word count)
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