Making Decisions: Analytics, Cognition, and Application [Hardcover]

This book links logical analysis with cognitive processes to determine optimal decision-making strategies in real-world scenarios.This book provides clear, practical guidance on decision analysis tools and the psychology behind human choices. Learn how to apply these insights to make better personal and professional decisions, understand the logic of optimal choices, and boost your confidence in making them.This book provides clear, practical guidance on decision analysis tools and the psychology behind human choices. Learn how to apply these insights to make better personal and professional decisions, understand the logic of optimal choices, and boost your confidence in making them.In today's data-driven world, this book offers clear, accessible guidance on the logical foundations of optimal decision making. It introduces essential tools for decision analysis and explores psychological theories that explain how people make decisions in both professional and personal contexts. Using real-world examples, the book covers topics such as decision making under uncertainty, decision trees, strategies of risk management, decisions that are gambles, heuristics, trade-offs, decision making under stress, game theory, decision making in a dispute or conflict, and multi-attribute decision analysis. Readers will identify common decision traps and learn how to avoid them, understand the causes of indecisiveness and find out how to deal with it, gain insights into their own decision-making processes, and build confidence in their ability to make and defend informed decisions across a range of scenarios.List of figures; List of tables; Preface; Acknowledgements; Section I. Analytics: Probability, Evaluation, Decision Trees, and Strategies for Decision Making; 1. Introduction to decision theory and decision making; 2. Thinking like a gambler: for all the gambles of life; 3. Using decision trees to see through the forest ahead; 4. Strategies for decision making in an environment of rlc%