The transportation model is an example of decision making under certainty since the costs of each shipping route, the demand at each destination, and the supply at each source are all assumed to be known with certainty.
examples of tactical decision-making
What is meant by decision making is someone making a choice. Options are given that pertain to a certain situation and a decision or choice is made. An example would be the decision to make chicken or meatloaf for dinner.
compromise
A decision- making technique in which individuals subjectively and intuitively consider the various factors in making their selection is known as multifactor decision making.
what does consensual decision making mean
decition making under certainty
when you know all information about alternatives and the best chosen one is certainty when you donot know all information is uncertainty
Certainty decision making involves scenarios where the outcomes of choices are known and predictable, allowing for clear, rational decisions based on available information. In contrast, uncertainty decision making deals with situations where outcomes are unknown or unpredictable, requiring individuals to rely on intuition, risk assessment, and probabilistic thinking. While certainty allows for straightforward analysis and planning, uncertainty necessitates flexibility and adaptability in decision-making strategies. Ultimately, the context and available information dictate the approach taken in each scenario.
I am not so sure how you would compare certainty decision making and uncertainty decision making, but there is a great site that focuses on interactive, critcial thinking dialogue offering practical insights and effective tools for findind the cause of problems, creating innovative solutions, making decisions, and anticipating problems before they happen. Visit http://blog.actionm.com/ for more information.
A risk-averse individual's indifference curve shows that they prefer certainty over uncertainty in decision-making. This is because the curve will be steeper, indicating that they require a higher level of certainty to compensate for taking on any level of risk.
choosing classes--- Apex
The three decision-making conditions are certainty, risk, and uncertainty. In a condition of certainty, the decision-maker has complete information and can predict outcomes accurately. In a risk condition, the decision-maker has some information and can estimate probabilities of different outcomes, allowing for informed choices. In uncertainty, the decision-maker lacks sufficient information about possible outcomes, making it difficult to evaluate options effectively, often leading to reliance on intuition or heuristics.
examples of tactical decision-making
Making a decision
Making a decision
Whenever someone shops they are making economic decisions. Determining how much you can comfortably afford for a house or a car is an example of economic decision making. Waiting to buy something until it goes on sale is also an example of this type of decision making.
What is meant by decision making is someone making a choice. Options are given that pertain to a certain situation and a decision or choice is made. An example would be the decision to make chicken or meatloaf for dinner.