Describe, in your own words, the adaptive decision maker mod…

Describe, in your own words, the adaptive decision maker model, being sure to include factors or things that influence the how people make their choices. Must be 3 paragraphs long…APA with references

The adaptive decision maker model is a theoretical framework that seeks to explain the process by which individuals make choices in dynamic and uncertain environments. This model proposes that decision-making is not a static process, but rather a dynamic and adaptive one, influenced by a range of factors. The adaptive decision maker model takes into account various cognitive, emotional, and situational factors that shape decision-making.

One key factor that influences decision-making is cognitive processes. Individuals rely on various cognitive mechanisms, such as perception, memory, and reasoning, to process information and make choices. For instance, perception plays a crucial role in how individuals perceive and interpret incoming information. Memory, on the other hand, allows individuals to draw upon past experiences and knowledge to make decisions. Similarly, reasoning involves the ability to evaluate different alternatives and weigh their pros and cons.

Emotional factors also play a crucial role in decision-making. Emotions can influence the way individuals perceive and interpret information, as well as their preferences for certain options. For example, individuals experiencing fear or anxiety may be more likely to make risk-averse choices, whereas those experiencing excitement or enthusiasm may be more inclined to take risks. Emotions can also impact the evaluation of potential outcomes, as individuals may be more or less sensitive to positive or negative outcomes depending on their emotional state.

Situational factors are another important consideration in the adaptive decision maker model. The context in which decisions are made can greatly influence the decision-making process. For instance, time pressure can lead individuals to rely on heuristics and make decisions based on simple rules of thumb rather than thorough deliberation. Similarly, the social context in which decisions are made, such as the presence of others or social norms, can shape individuals’ choices. Additionally, external factors such as resource availability and environmental cues can impact decision-making.

In conclusion, the adaptive decision maker model provides a comprehensive framework for understanding how individuals make choices in dynamic and uncertain environments. This model recognizes the influence of various cognitive, emotional, and situational factors on decision-making. The cognitive processes, emotional states, and situational context all play a role in shaping individuals’ choices. By considering these factors, researchers and practitioners can gain a deeper understanding of decision-making processes and develop strategies to enhance decision-making efficiency and effectiveness.

References:

Kahneman, D., & Tversky, A. (1979). Prospect theory: An analysis of decision under risk. Econometrica, 47(2), 263-291.

Lerner, J. S., & Keltner, D. (2000). Beyond valence: Toward a model of emotion-specific influences on judgment and choice. Cognition & Emotion, 14(4), 473-493.

Payne, J. W., Bettman, J. R., & Johnson, E. J. (2013). The adaptive decision maker. Cambridge University Press.