Question: https://www.cebma.org/wp-content/uploads/Kahneman-et-al-2001-Before-you-make-that-big-decision-60781382.pdf Select a personal decision that you are currently making or that you will need to make soon. It might be picking a major, buying
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Select a personal decision that you are currently making or that you will need to make soon. It might be picking a major, buying a car, renting an apartment, choosing a job, or something else. First, make your decision only using your intuition or feelings (The administrative(behavior) model). Note: you need to describe what administrative model is based on your reading (please cite the textbook source)
Then, compare the outcome of the decision using the rational model with the outcome you would have reached by following the behavior model. Are the outcomes different? What are the cognitive biases you might have used when you made your decision only based on intuition and feelings? Which model do you feel led you to the best decision? Why?
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