Decision Quotes - page 53
Decision tree - The most picturesque of all the allegedly scientific aids to making decisions. The analyst charts all the possible outcomes of different options, and charts all the latters' outcomes, too. This produces a series of stems and branches (hence the tree). Each of the chains of events is given a probability and a monetary value.
Robert Heller
Since the day I walked onto Academy grounds at West Point, I have been in an ongoing and quite conscious battle with my military service. Whether it was my first decision in college to turn away from military service altogether, or my post-September 11th decision to return to service, I have been attempting to mitigate conscience and duty for the past seven years. In the absence of a clear and articulate objection to service, I have defaulted to evolving forms of duty as my guiding principle. ... Conscientious objection is now the only way dutifully to fulfill my obligations both to faith and to nation, and to my own internal commitments to personal courage.
Joshua Casteel
We had to be able to make a decision like that, without reprocessing all of our learning. So we take a small slice of information and a profile of the customer, set up a promotion, prime up the customer's history, and wait for the events. It primes up just the right amount of information in real time... [A system like that,] might not be as precise, but it would be statistically good enough. Maybe it would be wrong five percent of the time, but that's okay. It would be more like making judgment calls.
Sumit Chowdhury
Too often secondary school counselors seem to press academically talented students toward an early vocational choice. We believe more mistakes are made by an early vocational decision than a delayed decision, especially by students who are intellectually gifted and who possess wide interests.
Eugene S. Wilson
The only thing that really matters is that there be an action of goodness, love and intelligence in living. Is goodness individual or collective, is love personal or impersonal, is intelligence yours, mine or somebody else? If it is yours or mine then it is not intelligence, or love, or goodness. If goodness is an affair of the individual or of the collective, according to one's particular preference or decision, then it is no longer goodness.
Jiddu Krishnamurti
Global rationality, the rationality of neoclassical theory, assumes that the decision maker has a comprehensive, consistent utility function, knows all the alternatives that are available for choice, can compute the expected value of utility associated with each alternative, and chooses the alternative that maximizes expected utility. Bounded rationality, a rationality that is consistent with our knowledge of actual human choice behavior, assumes that the decision maker must search for alternatives, has egregiously incomplete and inaccurate knowledge about the consequences of actions, and chooses actions that are expected to be satisfactory.
Herbert Simon
Decision theory can be pursued not only for the purposes of building foundations for political economy, or of understanding and explaining phenomena that are in themselves intrinsically interesting, but also for the purpose of offering direct advice to business and governmental decision makers. For reasons not clear to me, this territory was very sparsely settled prior to World War II. Such inhabitants as it had were mainly industrial engineers, students of public administration, and specialists in business functions, none of whom especially identified themselves with the economic sciences. Prominent pioneers included the mathematician, Charles Babbage, inventor of the digital computer, the engineer, Frederick Taylor and the administrator, Henri Fayol.
During World War II, this territory, almost abandoned, was rediscovered by scientists, mathematicians, and statisticians concerned with military management and logistics, and was renamed "operations research” or "operations analysis.”.
Herbert Simon
