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Chapter 8: Decision Making

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Presentation on theme: "Chapter 8: Decision Making"— Presentation transcript:

1 Chapter 8: Decision Making

2 Classes AND FEATURES OF DM

3 Uncertainty Time Familiarity and Expertise Classes of DM research

4 AN INFORMATION PROCESSING MODEL OF DECISION MAKING

5

6 WHAT IS “GOOD’ DECISION MAKING?

7 DIAGNOSIS AND SITUATION ASSESSMENT IN DECISION MAKING

8 Estimating Cues: Perception
Proportions Projections Randomness Gambler’s fallacy

9 Evidence Accumulation, Selective Attention: Cue Seeking and Hypothesis Formation

10 Evidence Accumulation, Selective Attention: Cue Seeking and Hypothesis Formation
Information cues are missing Cues are numerous: Information overload Cues are differently salient Salient bias, absence of cue

11 Evidence Accumulation, Selective Attention: Cue Seeking and Hypothesis Formation
Processed cues are not differentially weighted by information value As-if heuristic

12 Expectations in Diagnosis: The Role of Long-Term Memory
Representativeness Base rate The availability heuristic

13 Belief Changes Over Time
Anchoring heuristic The confirmation Bias Cost of thinking, motivational factors (consistency), self-fulfilling prophecy Decision fatigue

14 CHOICE OF ACTION

15 Certain Choice

16 Choice Under Uncertainty: The Expected Value Model

17 Heuristics and Biases in Uncertain Choice
Direct retrieval Distortions of values and costs: Loss aversion

18 Heuristics and Biases in Uncertain Choice
Temporal discounting Perception of probability The framing effect

19 EFFORT AND META COGNITION

20 Effort Performance-resource function Contingent model

21 Meta-Cognition and (Over) confidence
Diagnostic or problem difficulty Evidence reliability

22 Experience and Expertise in DM
Holistic decision making expertise

23 Experience and Expertise in DM

24 Improving Decision Making
Training debiasing Proceduralization Displays Automation and Decision Support Tools


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