Reaching for the optimal: The role of optimal alternatives in pre-decision making stages
Independent thesis Advanced level (degree of Master (One Year)), 20 credits / 30 HE creditsStudent thesis
It was hypothesized that in a decision-making situation, individuals will not only think of an optimal alternative but also as the most promising alternative, choose the alternative that is closest to their optimal alternative. Therefore, based on participants’ optimal alternative, five alternatives, each equal in terms of constant Multi-attribute Utility, were presented to participants. Two of the alternatives were constructed to be most similar to the participant’s optimal alternative, two alternatives were associated with two non-compensatory rules, and one alternative was not linked to any decision making rule. Results showed that participants thought not only of an optimal alternative in the given decision-making situation, they also chose the alternative that was most similar to their optimal. This alternative also got highest preference ratings. These findings present an optimal alternative. In addition, they demonstrate the influence that such an alternative have on the outcome in a decision-making situation.
Place, publisher, year, edition, pages
2007. , 27 p.
Decision making, decision making rules, promising alternative, optimal alternative, similarity
IdentifiersURN: urn:nbn:se:su:diva-6711OAI: oai:DiVA.org:su-6711DiVA: diva2:196924
Montgomery, Henry, ProfessorZakay, Dan, Professor
Torbiörn, Ingemar, Professor