MDM

Recent and Important Links
(are usually also available elsewhere on the Web Site)

CLASS NOTES/SLIDES

NOTE: SLIDES (1st 3weeks) WERE PRINTED FOR YOU and available from Robin if you missed class.

Week 4 Session 7 Slides Anchoring

Week 4 Session 8 Slides Social Heuristics

TreePlan.xla and a Summary Sheet on how to use it is available on the Tuck Streams Course Folder directory: P:\Course-Files\Spring\T03\MDM

Summary Sheet also here

No Survey for Week 5, your time should be spent working on Decision Trees

Week 5 Writing Assignment (if chosen, due Tues.):

Option 1:

Decision Trees are powerful tools for decision-making, but a "man's gotta know" their limitations. What are they? i.e. decision trees' strengths and weaknesses. Are there any factors that are not effectively considered when this approach is adopted for decision-making?

You have been chosen the Decision Making czar within your organization. You have decided to insist that all major decision analyses are accompanied by Decision Tree analyses. Is this a good edict? Why or why not? When or when not?

Option 2:

Write a memo to your boss describing a decision heuristic problem (preferably representativeness, availability, or anchoring) at your last (or, a fictitious) organization. Assume that your boss has zero knowledge in behavioral science, and thus you need to use non-technical language to explain what you mean by "representativeness, availability, or anchoring" heuristics before elaborating how these heuristics (can be one of them) adversely affect or affected the decision-making process in the organizataion.

There is a very clever sample of a GREAT paper in pdf format below:

BadHeuristicsPearlHarbor.pdf