Basic Factors of Economic Decision Making. Economic models help managers and economists analyze the economic decision-making process. Each model relies on a number of assumptions, or basic factors ...

Basic decision-making requires comparing options. Evaluating an option necessitates assessing many dimensions. Some dimensions of a decision, such as taste, are easy to compute.

Decision making is a vital component of small business success. Decisions based on a foundation of knowledge and sound reasoning can lead the company into long-term prosperity; conversely ...

The decision-making process of a manager can be broken down into seven steps. Although each step can be examined at length, managers often run through all of the steps quickly when making decisions.

Decision making is something all of us do, and we do it all of the time. In some instances, the process can be almost automatic, while in others, it can be lengthy and cumbersome. While ...

Decision making is a human cognitive process that is often completed many times a day. However, hard decisions are the result of analyzing the problem and choosing one option over an alternative.

Aviation decision making, in and of itself, sounds like it should be rather cut and dry. We hear the term used frequently yet, we still often fail to make the best decisions while leading an ...

Betty faces a seemingly simple choice between an apple and a donut. But as we'll soon discover, the brain's decision-making process is far from straightforward. Betty is standing before the ...