Early last year, I was asked by my parents to manage our restaurant. However, since I had my own plans which entailed travelling with my friends, I turned down their request and lied that we were going on a school trip. I insisted that it was imperative I go for the trip since there was a lot I could learn from the trip. However, there was nothing much or rather important that we were going to do during the trip. It was simply having fun and visiting new places. Later, I came to realize that I had wasted an important opportunity where I could have learn a lot by managing our restaurant. Moreover, I could have helped my parents a great deal since they had a lot of work at the time.
After learning about the rational model of decision making, I think that I could have made a better decision if I applied the model. The model provides insight on how to make decisions when faced with alternative choices. The model analyses logic, analysis and objectivity in favor and against using insight and subjectivity when making decisions (Steiner, Stewart & Matějka 2017). If I could have used the rational model, I could have examined the situation and realized that managing the restaurant could have given me a chance to learn how to manage a business so that I know how to run mine when time comes. I could not have been subjective in thinking and thus could have eliminated the alternative which was going for a trip with my friends.
Reference
Steiner, J., Stewart, C., & Matějka, F. (2017). Rational Inattention Dynamics: Inertia and Delay in Decision‐Making. Econometrica, 85(2), 521-553.
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