GMS 200 Lecture Notes - Lecture 2: Quantitative Easing, Rationality, Daniel Kahneman

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Horatio Morgan

Document Summary

5 characteristics of useful information: timely, relevant, accuracy, reliable, truthful, complete, quantitative easing, high-quality, understandable. Average market share in us trucks and car market approx 48. 3% First listed shares on nyse nov. 2010 (/share) Many spending decisions were not justified by sound analysis. How managers make decisions, or ought to make decisions. What pitfalls managers should avoid when making decisions. Uncertain environment ( have no idea what the chances are because there are no stats to base off of ) Risk environment (know that there is a chance of results based on past experience) Certain environment (complete information, can be sure that one action will lead to the exact consequence) Optimizing decision (choose absolute best among alternatives) Use to simplify decision making when time is limited time, info and energy. People use info readily available from memory. Basis for assessing a current event of situation. Good experience usually leads to continued use.