SRA 231 COMPREHENSIVE EXAM 2024 WITH 100% CORRECT ANSWERS

SRA 231 COMPREHENSIVE EXAM 2024 WITH 100% CORRECT ANSWERS false - correct answer (true/false) decision theory is multidisciplinary across one academic field true - correct answer (true/false) there is no single unifying decision theory and it is difficult to discern between the various forms true - correct answer (true/false) rational = normative normative theory - correct answer assumes individuals act RATIONALLY in trying to find the best solution to optimize outcome i.e. what we SHOULD do utility - correct answer overall value/worth of a choice expected value - correct answer overall value of a choice determined by multiplying utility of choice by probability of outcome descriptive theory - correct answer assumes humans are not completely rational and that assumptions of normative models are routinely violated i.e. what we ACTUALLY do framing effects - correct answer the way a problem is phrased affects the decision