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Decision-making process fit description of rational choice

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Reference no: EM131968003

1. Give an example of a fairly major purchasing decision you've made in your lifetime. How did you justify the purchase? How did you prepare for it financially once you decided to make the purchase?

2. What aspects of your decision-making process fit the description of a rational choice? Did you consider costs and benefits? Did you pay attention to both monetary and nonmonetary factors? Did you consider opportunity costs and your long-term goals?

3. What information did you have or obtain that helped make your decision a well-informed one? Was there something you didn't know beforehand that you wish you had?

4. Were there any parts of your decision-making process that weren't rational?

Reference no: EM131968003

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