Chapter 4 : Representative of Individual Decision

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Chapter 4 : Representative of Individual Decision by Mind Map: Chapter 4 : Representative of Individual Decision

1. Degree of certainty

2. States of nature

2.1. External Factors

2.1.1. known factors

2.1.1.1. background information that the decision-makers has

2.1.2. unknown factors

2.1.2.1. depend on reflection of others and environment

2.1.2.1.1. Future events that decision maker are uncontrollable

2.2. Extraneous Factors

3. Alternatives

3.1. Options/Choices for consideration

3.1.1. Open Alternatives

3.1.1.1. New alternative can be invented and discovered

3.1.1.2. non structured or ill-structured problem

3.1.2. Close Alternatives

3.1.2.1. No new alternative can be added and introduced

3.1.2.2. Makes decision problems much more accessible

4. Outcomes

4.1. choice and method

4.2. external factors