What Are the Different Decision Making Models?


Different decision making models include the rational decision making model, the seven step decision making model, intuitive decision making models and the recognition primed decision making model. The type of model employed depends on the type of decision being made. The rational decision making model is the most popular.
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The different decision making models include the economic rationality model, the social model and Simon's bounded rationality model. Others are Judgemental heuristics and biases model as well as participative decision-making techniques. All these models have their pros as well as cons and thus are chosen depending with the use and expected results.
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