1. Psychology of Personal Decision-Making

2.  More TED! – Barry Schwartz ▪ “The Paradox of Choice”  Decisions since last class?  Decision basics

3.  All decisions have alternatives

4.  All decisions have alternatives, values

5.  All decisions have alternatives, values, and uncertainty!

8.  #1: Problem structuring ▪ Identification of: ▪ Alternatives ▪ Values that differentiate alternatives ▪ Uncertain events

9.  #2: Evaluation ▪ Weighing: ▪ Desirability of outcomes ▪ Uncertain events

11.  Decision problems: ▪ Hard to determine if solutions are good enough!

12.  Decision problems: ▪ Hard to determine if solutions are good enough!

13.  #1 Multi-attribute decisions ▪ Involve trade-offs between values

14.  #2 Risky decisions ▪ Deal with uncertainty and the FUTURE

15.  We haven’t evolved into decision analysts… it takes work and cognitive tools! …Capacity of judging rightly in matters relating to life and conduct; soundness of judgment in the choice of means and ends. Wisdom defined:

16.  Walt Whitman - “Be a more of a free spirit to better appreciate life” ▪ Easier to appreciate life this way in between decisions, not during them  Analyzing decisions places too much weight on what is quantifiable and ignores the other stuff ▪ Decision analysis quantifies the “unquantifiable”

17.  Decision tables + o Authenticity Breathability ControlHarmony o ? +o o o