Abstract
In the previous chapter, I mentioned the possibility that due to the situational dependence of decision-making, the jury theorem does not hold for group decision-making, and that avoidance of worst case decisions cannot be acquired through interaction within a group. I also pointed out that the situational dependence of decision-making is caused by shifts in attention, such as the framing effect. In this chapter, I will explain the contingent focus model, which is a descriptive model of the phenomenon that gives rise to the situation-dependence of decision-making such as the framing effect, and discuss its relationship with making bad decisions. The contingent focus model explains preference reversal phenomenon that is depending on the shift of attention to the attribute.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
