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Latest Decision making Stories

2011-05-05 15:34:31

When a group of gamblers gather around a roulette table, individual players are likely to have different reasons for betting on certain numbers. Some may play a "lucky" number that has given them positive results in the past"”a strategy called reinforcement learning. Others may check out the recent history of winning colors or numbers to try and decipher a pattern. Betting on the belief that a certain outcome is "due" based on past events is called the gambler's fallacy. Recently,...

2011-05-04 15:19:59

If small business owners want to avoid costly mistakes, it pays to consult with others. That's the finding of new research from the University of Cincinnati that will be presented both nationally and internationally "“ first on May 6-8 at the Family Enterprise Research Conference in Grand Rapids, Mich., and again on June 15-18 at the International Council of Small Business Conference in Stockholm, Sweden. The research was conducted by one-time entrepreneur Jeremy Woods, currently a...

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2011-03-24 08:25:27

By Yasmin Anwar, University of California, Berkeley A sleepless night can make us cranky and moody. But a lesser known side effect of sleep deprivation is short-term euphoria, which can potentially lead to poor judgment and addictive behavior, according to new research from the University of California, Berkeley. Researchers at UC Berkeley and Harvard Medical School studied the brains of healthy young adults and found that their pleasure circuitry got a big boost after a missed night's sleep....

2011-01-20 15:53:09

A prototype computer game has been developed to help improve decision making skills in all aspects of our lives. Supported by the Engineering and Physical Sciences Research Council (EPSRC), a team at Queen's University Belfast has developed a prototype that could be built on by commercial games manufacturers and turned into an e-learning or training tool for professionals in all walks of life "“ and for the general public too. Alternatively, some of its features could be incorporated...

2011-01-20 00:00:54

Kepner-Tregoe offers seven steps to ensure budgetary decisions support company goals Princeton, NJ (Vocus/PRWEB) January 18, 2011 Kepner-Tregoe (KT), a leading international consulting and training services organization, advises companies to think twice before cutting costs in 2011 as they are at high risk for causing additional damage. Over the past several months, companies have faced immense pressure to slash budgets and programs in an effort to remain profitable and successful. These...

2011-01-04 13:49:27

When faced with decisions, we often follow our intuition"”our self-described "gut feelings""”without understanding why. Our ability to make hunch decisions varies considerably: Intuition can either be a useful ally or it can lead to costly and dangerous mistakes. A new study published in Psychological Science, a journal of the Association for Psychological Science, finds that the trustworthiness of our intuition is really influenced by what is happening physically in our bodies....

2011-01-04 00:00:37

Want to Make Better Decisions? Great Decisionsâ“ž¢ is simple to use decision making - problem solving software with a simple to use interface. Compare what is motivating or stopping you from making a decision. Assign a numeric weight to each attribute in the decision with an intuitive arrow graphic. Portland, OR (PRWEB) January 3, 2011 Great Life Software announces the first and only force field analysis application in the Ap stores called Great...

2010-12-14 23:46:38

Enormous uncertainty. These two words describe the condition of Phoenix's climate and water supply in the 21st century. Reservoirs have dipped to their lowest levels, continuous drought has plagued the state and forecasts for even warmer summers are predicted. Despite this uncertainty, professors at Arizona State University say there's no need to be fearful because positive impacts can be made. ASU professors Patricia Gober and Craig Kirkwood working in conjunction with Decision Center for a...

2010-12-14 07:57:00

SCHAUMBURG, Illinois, December 14, 2010 /PRNewswire/ -- - Action Points Extends ARC's Award Winning BI Capabilities to Collaborative Operational Execution Manthan Systems today announced that it will be pre-viewing ARC Action Points, a unique and completely novel series of Retail Business Process Execution Modules. ARC Action Points extends ARC's strong guided analytical capabilities to allow for simulation and modeling of "best outcome" decisions, and then through collaborative...

2010-11-15 11:15:00

AUCKLAND, New Zealand, November 15, 2010 /PRNewswire/ -- The New Zealand-based Scotia Place Center has just launched The Universal Template, its latest offering in a series of decision-support products. "The 'U'-Template affords organizational decision-makers a comprehensive and long-range 'pilots-eye' view of their projects-in-development", says psychologist and company founder David L. Herman. "And like a fighter pilot's psychological 'back-up' mechanisms, The 'U'-Template enables...