Decision making 5 topics (500 words each ) journal reflection entries

You should use first person terms, e.g. “I” or “me”, as this is about you, and your personal reflection to your learning. Be specific in your Reflection and Learning.

Include each topic: Describe the topic ,Give your opinion and personal observations, Critically consider the topic, Describe what you learn, Discuss this new knowledge.

Summarize/describe:

Evaluate the theories – do they surprise you? Do they ring true?

Make them your own – find examples and apply these theories to explain or predict your own behaviors!

  1. First topic 500 words: Normative vs descriptive models of decision making
  2. Second topic 500 words: Expected utility theory
  3. Third topic 500 words: St Peters burg’s paradox
  4. Fourth topic 500 words: Satisfying vs maximizing
  5. Fifth topic 500 words: Prospect theory (loss aversion; Endowment effect)

Sample Solution

http://shifter-magazine.com/wp-content/uploads/2015/02/Daniel-Kahneman-Thinking-Fast-and-Slow-.pdf

Third
topic readings : You can also read an introduction to the St Petersburg
paradox .

http://www.math.rug.nl/bernoulli/vorigelezingen/lezing06/inleiding06.pdf

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