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Using a Framework to Create Better Choic...

Parmar, Bidhan L.,...

Technical Note

Using a Framework to Create Better Choices

Parmar, Bidhan L.; Freeman, R. Edward; Wicks, Andrew C.; Harris, Jared D.; Mead, Jenny

E-0407 | Published January 5, 2016 | 6 pages Technical Note

Collection: Darden School of Business

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Intuition can be a good guide for decision making when the current situation generally matches the situations in which the intuition was formed. But for novel or ambiguous situations, relying only on intuition can blind us to possible negative consequences by focusing our attention only on data that support our intuition. To reduce the likelihood of these errors and to better imagine and prepare for the outcomes of our choices, we use a decision-making framework. This note outlines the process of how to apply a framework.