Decision making – Wikipedia summary by WikiSummarizer

This mind map presents  a summary of the Wikipedia article  referencing the "Decision Making" keyword. The MindManager map was automatically created by WikiSummarizer.

WikiSummarizer is a Web-based application that summarizes Web pages and documents and creates knowledge libraries automatically.

Here is a link to the "Decision making" MindManager mind map for navigation in your browser.

Here are the 10 keywords and summaries in the Wikipedia article referencing the "Decision Making" keyword.

Decision making


http://en.wikipedia.org/wiki/Decision_making


Decision making (100)

Decision making can be regarded as the mental processes (cognitive process) resulting in the selection of a course of action among several alternative scenarios.

– From a normative perspective, the analysis of individual decisions is concerned with the logic of decision making and rationality and the invariant choice it leads to.

– A major part of decision making involves the analysis of a finite set of alternatives described in terms of some evaluative criteria.

Decision making


http://en.wikipedia.org/wiki/Decision_making


Decision making (100)

Decision making can be regarded as the mental processes (cognitive process) resulting in the selection of a course of action among several alternative scenarios.

– From a normative perspective, the analysis of individual decisions is concerned with the logic of decision making and rationality and the invariant choice it leads to.

– A major part of decision making involves the analysis of a finite set of alternatives described in terms of some evaluative criteria.

– Problem Analysis • Analyze performance, what should the results be against what they actually are • Problems are merely deviations from performance standards • Problem must be precisely identified and described • Problems are caused by some change from a distinctive feature • Something can always be used to distinguish between what has and hasn't been effected by a cause • Causes to problems can be deducted from relevant changes found in analyzing the problem • Most likely cause to a problem is the one that exactly explains all the facts Decision Making • Objectives must first be established • Objectives must be classified and placed in order of importance • Alternative actions must be developed • The alternative must be evaluated against all the objectives • The alternative that is able to achieve all the objectives is the tentative decision • The tentative decision is evaluated for more possible consequences • The decisive actions are taken, and additional actions are taken to prevent any adverse consequences from becoming problems and starting both systems (problem analysis and decision making) all over again Some of the decision making techniques people use in everyday life include: Pros and Cons: Listing the advantages and disadvantages of each option, popularized by Plato and Benjamin Franklin Simple Prioritization: Choosing the alternative with the highest probability-weighted utility for each alternative (see Decision Analysis) or derivative Possibilianism: Acting on choices so as not to preclude alternative understandings of equal probability, including active exploration of novel possibilities and emphasis on the necessity of holding multiple positions at once if there is no available data to privilege one over the others.

– "Why did I ignore the evidence that the project was going over budget?") and then craft potential cognitive interventions aimed at improving decision making outcomes.

– Reference class forecasting was developed to eliminate or reduce cognitive biases in decision making.

– Evaluation and analysis of past decisions is complementary to decision making; see also mental accounting.

– Another recent study found that lesions to the ACC in the macaque resulted in impaired decision making in the long run of reinforcement guided tasks suggesting that the ACC may be involved in evaluating past reinforcement information and guiding future action.

– Emotion appears to aid the decision making process: Decision making often occurs in the face of uncertainty about whether one's choices will lead to benefit or harm (see also Risk).


objectives (100)

– Problem Analysis • Analyze performance, what should the results be against what they actually are • Problems are merely deviations from performance standards • Problem must be precisely identified and described • Problems are caused by some change from a distinctive feature • Something can always be used to distinguish between what has and hasn't been effected by a cause • Causes to problems can be deducted from relevant changes found in analyzing the problem • Most likely cause to a problem is the one that exactly explains all the facts Decision Making • Objectives must first be established • Objectives must be classified and placed in order of importance • Alternative actions must be developed • The alternative must be evaluated against all the objectives • The alternative that is able to achieve all the objectives is the tentative decision • The tentative decision is evaluated for more possible consequences • The decisive actions are taken, and additional actions are taken to prevent any adverse consequences from becoming problems and starting both systems (problem analysis and decision making) all over again Some of the decision making techniques people use in everyday life include: Pros and Cons: Listing the advantages and disadvantages of each option, popularized by Plato and Benjamin Franklin Simple Prioritization: Choosing the alternative with the highest probability-weighted utility for each alternative (see Decision Analysis) or derivative Possibilianism: Acting on choices so as not to preclude alternative understandings of equal probability, including active exploration of novel possibilities and emphasis on the necessity of holding multiple positions at once if there is no available data to privilege one over the others.


cortex (87)

– Individuals who are highly defensive in this manner show significantly greater left prefrontal cortex activity as measured by EEG than do less defensive individuals.


bias (87)

– Selective search for evidence (a.k.a. Confirmation bias in psychology) (Scott Plous, 1993) – We tend to be willing to gather facts that support certain conclusions but disregard other facts that support different conclusions.

– Wishful thinking or optimism bias – We tend to want to see things in a positive light and this can distort our perception and thinking.


uncertainty (87)

– Underestimating uncertainty and the illusion of control – We tend to underestimate future uncertainty because we tend to believe we have more control over events than we really do.

– According to Katsenelinboigen, the two styles reflect two basic approaches to the uncertainty: deterministic (combinational style) and indeterministic (positional style).

– Emotion appears to aid the decision making process: Decision making often occurs in the face of uncertainty about whether one's choices will lead to benefit or harm (see also Risk).


selection (87)

– Decision making can be regarded as the mental processes (cognitive process) resulting in the selection of a course of action among several alternative scenarios.


pros (75)

– Problem Analysis • Analyze performance, what should the results be against what they actually are • Problems are merely deviations from performance standards • Problem must be precisely identified and described • Problems are caused by some change from a distinctive feature • Something can always be used to distinguish between what has and hasn't been effected by a cause • Causes to problems can be deducted from relevant changes found in analyzing the problem • Most likely cause to a problem is the one that exactly explains all the facts Decision Making • Objectives must first be established • Objectives must be classified and placed in order of importance • Alternative actions must be developed • The alternative must be evaluated against all the objectives • The alternative that is able to achieve all the objectives is the tentative decision • The tentative decision is evaluated for more possible consequences • The decisive actions are taken, and additional actions are taken to prevent any adverse consequences from becoming problems and starting both systems (problem analysis and decision making) all over again Some of the decision making techniques people use in everyday life include: Pros and Cons: Listing the advantages and disadvantages of each option, popularized by Plato and Benjamin Franklin Simple Prioritization: Choosing the alternative with the highest probability-weighted utility for each alternative (see Decision Analysis) or derivative Possibilianism: Acting on choices so as not to preclude alternative understandings of equal probability, including active exploration of novel possibilities and emphasis on the necessity of holding multiple positions at once if there is no available data to privilege one over the others.

– The fourth step – List pros and cons of each alternative.


Evaluation (72)

Evaluation and analysis of past decisions is complementary to decision making; see also mental accounting.


Emotion (72)

Emotion appears to aid the decision making process: Decision making often occurs in the face of uncertainty about whether one's choices will lead to benefit or harm (see also Risk).


combinational style (66)

– According to Katsenelinboigen, the two styles reflect two basic approaches to the uncertainty: deterministic (combinational style) and indeterministic (positional style).

– Katsenelinboigen writes: “As the game progressed and defense became more sophisticated the combinational style of play declined.

About Context Discovery WikiSummarizer

WikiSummarizer is a Web-based summarization engine that summarizes Web pages and documents in English, French, Spanish, and German. The summarization results are stored in any relational database. Report writers, including web-based ones, can be easily used for knowledge mining of the summaries, keywords and links. The search function works as a back-of-the-book index pointing to the most relevant summaries and links.

The keywords, summaries, and links are easily exported via XML to other applications such as Mindjet MindManager, Microsoft Word, etc. to generate instant mind maps and reports. 

For more information about installing the WikiSummarizer for your organization or as a cloud server please contact info@contextdiscovery.com

About Henry

Hi, I’m Henry Lewkowicz and I’m the CEO of Context Discovery Inc. For long time I have been interested in the importance of context in understanding information. Intuitively we recognize the meaning of context when we say “you took my words out of context”. This phrase vividly signifies how much we care about our intentions and point of view. I believe that in the Internet age context plays a big role in rapid understanding of information. I’ll go on the record and say that in fact seeing information in context dramatically speeds understanding and simplifies application of information. In this blog I hope to have a lively dialog with you on a range of subjects related to context, information overload, knowledge, learning and other fun topics. In the course of doing it I will be using our own application, Context Organizer, as an experiment in capturing in 1 sentence what bloggers and other writers publish. I hope that we all will have some fun with it and learn more about communicating. Although this is primarily a technology and business blog, to great degree it's also my personal blog. From time to time, amongst the customary posts, I will write about issues that I passionately care about, my travels, and photos that I've taken. Periodically I refer to my family or friends, and sometimes you even see my vacation photos. I hope to make lots of new friends and learn a great deal in the process. Life is too short…. Enjoy, and feel free to write to me.
This entry was posted in WikiSummarizer and tagged , , , , , , , , , , , . Bookmark the permalink.