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Describe the three forms of overconfidence

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Identify a decision you have made that had an impact on one person or multiple people. It may be something you experienced as a leader of a team or group, or it may be something from your family or personal life. Write a response that answers the three questions below.

What was the decision?

How did you make the decision?

What is your evaluation of the decision?

Explain what boundaries are and why they are important in decision-making.

Define System 1 and System 2 thinking. Explain how they are relevant to decision-making.

Explain what an alternative is and why it is important to decision-making.

Describe the three forms of overconfidence, and give examples of how overconfidence has caused some bad historic decisions.

Explain rational decision-making, and briefly discuss the six steps needed to achieve rational decision-making.

Reference no: EM132834703

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