Answers to Chapter Discussion Questions — Making Decisions: Analytics, Cognition, and Application

Section I: Analytics: Probability, Evaluation, Decision Trees, and Strategies for Decision Making

Chapter 1: Introduction to Decision Theory and Decision Making

Chapter 2: Thinking Like a Gambler: For All the Gambles of Life

Chapter 3: Using Decision Trees to See Through the Forest Ahead

Chapter 4: Strategies for Decision Making in An Environment of Risk

Section II: Cognitive Processes of Decision Making

Chapter 5: Heuristics: Assumptions and Quick Rules of Thumb We All Use—But Maybe Shouldn’t

Chapter 6: Prospect Theory: Psychological Aspects Beyond Expected Value

LearnChapter 7: Two Systems: A Descriptive Model That Explains How People Make Decisions more

Chapter 8: Decisions are made based on our memories, but how reliable are our memories?

Chapter 9: Psychology + Economics = Behavioral Economics = Ways to (Gently) Influence Decisions

Section III: Applications, Examples, and Selected Topics

Chapter 10: Signal Detection Theory: How to Detect The Important Signal Against The Distracting Background and Take Action As Appropriate Based On The Signal

Chapter 11: Game Theory as Applied to Real-World Decisions

Chapter 12: Decision Making Under Stress: Staying Ahead of Rapidly Changing Events and Making Difficult, Time-Critical Decisions

Chapter 13: Decision Making Involving Disputes, Negotiation, and Conflict

Chapter 14: Multi-attribute Utility Decisions: Making Complex and Multi-dimensional Decisions

Chapter 15: Common Decision Traps and How to Avoid Them

Chapter 16: Overcoming Indecisiveness by Understanding What Causes It

Chapter 17: Looking Back and Looking Ahead: But what about emotion, culture, artificial intelligence, and intuition?