Thursday, December 6, 2007

x_x

The colleague recommended the rational choice paradigm decision-making approach.
It is the best option from the company's point of view as it is the most cost-saving approach.
This approach also ensures that the decision made is rational and utility maximising, PROVIDED THAT the assumptions behind this approach are consistent with reality, which is usually not the case.

However this approach is based on two assumptions, which holds very little truth or rather are inconsistent with reality most of time.
1. human behaviour is always consistent with rationality.
2. humans are very clear and fully aware of the consequences of their choice.

I shall refute the argument about the rational choice paradigm being the best approach in this case study from a NEUTRAL POINT OF VIEW .
1. The decision made by people may not necessarily be the best. Settling for anything else less than the best obviously does not reflect rationality.
2. Uncertainty regarding the consequences of their choice arises in cases whereby information provided for decision-making consideration is insufficient or people lack the cognitive ability and time to rank one choice against another.

Besides it is impossible to accommodate to the preferences of 2000 people in all aspects (transport/accommodation/meals in this case study) using the rational choice paradigm decision-making approach.

a very tired Yvonne

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