Section outline

  • Learning Objectives:

    • Understand the conceptual foundations of decision making

    • Understand the need for and the nature of models in decision making

    • Understand Simon's four phases of decision making

    • Recognize the concepts of rationality and bounded rationality and how they relate to decision making

    • Differentiate between the concepts of making a choice and establishing a principle of choice

    • Learn how DSS provide support for decision making in practice.