5 decision models
Decoding Decision-Making: Exploring 5 Models for Better Choices
Here are 5 main decision-making models for you to make better decisions.
1) Rational decision-making model: Define criteria, weigh options, and choose the best.
2) Bounded rationality decision-making model: Quickly limit options and choose first satisfactory one; useful in time-sensitive situations, such as crisis management.
3) Vroom-Yetton decision-making model: Find your answer by answering yes/no questions.
4) Intuitive decision-making model: For decisions where little information is available and experience matters, trusting your instinct is the way to go.
5) The recognition primed model: Intuition + structure. Step 1: Analyze info and options. Step 2: Visualize the scenarios. Step 3: Pick the option that let to the best results in your visualization.
Which model do you use and why?