By paddloPayday loans

Decision Making 10 May 2007 10:27 am

Topic 5: Decision Making (Prisoner’s Dilemma)

The Prisoner’s Dilemma.

What a great way to think about decision making. What a great way to think about being prisoner without actually having to be one.

There are many aspects of decision making, but one important one has to do with “predicting” what others will do. If I decide to do this, how will this person or that person respond (or the “market” react)? If I decide to take up hang gliding, how will my spouse take it?

This dilemma is a good way to think about “predicting” as part of the decision-making process. Of course part of that is, what happens if I do not predict well? How do I take that into account?

We will be talking about this next Wednesday. In the mean time, try to stay out of the slammer (or at least “decide” not to have an acccomplice).

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