A Mechanism for Decision Strategy Selection and Some Implications
WASHINGTON UNIV SEATTLE DEPT OF PSYCHOLOGY
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A contingency model was proposed for the selection of decision strategies. The strategy that the decision maker sees as offering the greatest expected net gain is the one selected i.e., selection is based on a cost- benefit analysis. The present paper explores this selection mechanism in greater detail and examines the implications of variations in the costs and benefits. The effects of externally imposed time constraints deadlines on decision strategy selection and subsequent confidence in the adequacy of the decision also are discussed.
- Administration and Management