Briefly Describe the Three Predominant Theories of Decision Making Discussed

Question

Examlex · Accepted Answer

The Answer is Rational Decision Making theories describe a process of selecting and prioritizing societies goals, exploring all possible alternative strategies (or means) for achieving those ends, evaluating the costs and benefits among those strategies or means, and selecting the strategies that come closest to satisfying selected ends. Limited or bounded rationality recognizes that perfect information is not available, there are many unknowns that likely cannot become knowable during the timeframe for decision making, and all decision-making takes places within a limited timeframe. Extensive analysis and investigation comes into play only when large forces are marshalled for change. Normally, most decisions are made as incremental adjustments to policies in place as a result of previous decisions. Incrementaliism describes a more purely political process in which decisions are less the result of deliberate research and analysis and more the outcome of complex political bargaining among different interests. Most of the time, only modest changes are made to previously negotiated political bargains during an annual decision making process, such as public budgeting. All of the theories are understood to be more general frameworks that explain how decisions are made, and not ideal types that are fully descriptive of human decision making behavior.

Briefly Describe the Three Predominant Theories of Decision Making Discussed

Definitions: