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Q2) Due to variety of reasons (time pressure, bounded rationality, etc), it is hard to perfectly apply the rational decision-making model to decisions. Instead, the
Q2) Due to variety of reasons (time pressure, bounded rationality, etc), it is hard to perfectly apply the rational decision-making model to decisions. Instead, the textbook talks about the four decision heuristics (decision shortcuts) people may use to make decisions: Availability, Representativeness, Confirmation and Affect heuristic. For the same scenario in Question 1, discus how the decision making might use each heuristic and the poten
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