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Making decisions - Sequence of Gambles

Sequence of Gambles

Consider the choice among pairs of casino gambles that are the staple of the most basic studies of decision making then think about an important personal decision how good is the analogy between gambling choice and your decision situation. Is life really a sequence of gambles?

a. Identify the decision.

b. Discuss the analogy between the gambling choice and your decision situation. Provide, at a minimum, three constructive points.

c. State your position regarding this statement: Is life really a sequence of gambles?

d. Provide three constructive statements supporting your decision.

This is comparing gambling to a personal decision.

Solution Preview

RESPONSE:

a. Identify the decision.

You wrote: "My personal decision was filing a complaint with the Human Rights Board concerning one of my bosses and I had to weigh the pro and cons to think of this: was a good decision to make? As it turned out I made a good choice because I won the case. I can't figure out the analogy of that other than being treated unfairly on the job.
I don't know anything about gambling what is the analogy in that?"

You are right, being treated unfairly on the job doesn't have anything to do with the analogy to gambling; however, your decision to file a complaint does--as we will look at in the next question.

b. Discuss the analogy between the gambling choice and your decision situation. Provide, at a minimum, three constructive ...

Solution Summary

By responding to the questions and by example, this solution addresses the question: Is life really a sequence of gambles?

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