Decision Making Making decisions is one of the most important function of managers. The work of managers, of scientists, of engineers or lawyers is largely work of making decisions and solving problems. It is work of choosing issues that require attention, setting goals, finding or designing suitable courses of action, and evaluating and choosing among alternative actions. Nothing is more important for the well-being of society than that this work be performed effectively, that we …
showed first 75 words of 510 total

showed last 75 words of 510 total
…a "tit-for-tat" strategy. That is, each plays the trustful, cooperative strategy as long as his or her partner does the same. If the partner exploits the player on a particular trial, tha player then plays the exploitative strategy on the next trial and continues to do so until the partner switches back to the trustful strategy. Under these conditions, the game frequently stabilizes wiht the players pusuing the mutually trustful strategy and receiving the rewards.