how decisions are made under riskOne of
the most difficult situations facing a professional in today’s work environment is
decision making under risk. The result is often an “irrational” decision
controlled by unrecognized “decision keys.”
This program answers the questions:
- Why does the clothing salesperson sell accessories after you
buy the suit?
- Why is paying by cash instead of a credit card considered a
discount?
- What explains the popularity of insurance policies for
specific risks such as air travel?
- Why are state lotteries so successful?
We make decisions based upon the manner in which the
situation is “framed” and what sort of “mental accounting” is created.
Learn how these hidden rules affect your decisions and how to better present your ideas
for decisions by others.
topics
 Completing a Decision Quiz that shows how choices
are influenced.
How gains and losses are
valued differently.
How risk evaluation is biased
near 0 and near 1.
Our two mental accounts … ledger and “W.”
The five psychological
decision keys and how to use them.
Applications of framing in
sales, negotiations and typical
professional life.
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