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Decision Making and Heuristics

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Activity-Based Decision-Making using Heuristics to reach conclusions about Insurance Company.

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Activity-Based Decision-Making using Heuristics to reach conclusions about Insurance Company.

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The certainty effect discussed in the second activity was in reference to what a person should expect from the insurance company should a situation occur revealing losses or damages. The focus of the certainty effect in this activity emphasized the guaranteed stature definition. The stature asserts that choices made, are a sure thing. As such, when a situation reads a certain way, the understanding of context through interpretation is evident by virtue the method of delivery, thereby making the information clear. The stature further asserts that any word altering to change the meaning is inadmissible.

The regret theory was choice for the third activity. The justification for this was due to the second-guessing occurrences transpiring after the decision-making process. There were recurring thoughts pertaining to the unlimited possibilities of what could have been, what could have happened, and what could one do. The contemplations therein somewhat controlled the thinking process of what option to choose to make the right decisions. The choice of regret theory thus elaborates on the fact that the more options one addresses the better chance one has ...

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