Discussion 2: Decision Making

Would you flip a coin for the chance of winning two dollars? What if you were given a dollar and offered the chance to flip a coin to either gain a second dollar or lose the first? Which wager seems more appealing—the first or the second?

Far more people choose the first wager than the second. Both scenarios have exactly the same probability of outcomes: a 50% chance of ending up with nothing, and a 50% chance of ending up with two dollars. Why might the first wager appeal to people? Do we always make the best possible decision?

Impediments are factors that can hinder decision-making. While they often vary by situation, common impediments exist that might influence decision-making in general.

In this Discussion, you explain a difficult decision you have made. You also describe impediments that you faced when making this decision, as well as common decision-making impediments.

With these thoughts in mind:

 

Post a brief description of a recent difficult decision you made between two or more alternatives. Then explain the nature of two impediments that you faced in making the decision. Finally, describe two common impediments to optimal decision making.

Be sure to support your postings and responses with specific references to the Learning Resources.