Main topics:
If the time to decide is short, decision governance needs to improve how the decision maker identifies cues, matches them to experience, what they experience they match them to, and the quality of their prediction of action outcomes.
If a decision process is designed according to the expected utility (maximization) model, then the choice of an option is explained by it having the highest expected utility among considered options. Consequently, decision governance over such a decision process needs to help the decision maker predict and prepare for unexpected events in order to maximize utility.
If a decision process is designed according to the classical utility maximization model, then the choice of an option is explained by it having the highest utility among considered options. Consequently, decision governance over such a decision process needs to influence (i) which options are considered, (ii) how options are compared against preferences, and (iii) how preferences are formed.
An explanation of a decision will provide reasons for why the chosen option was chosen over others. In this text, simple and intuitive models are presented for how to organize information into an explanation of a decision. The models are interesting only as a starting point, before we go into more elaborate ones and in…
Explanations of decisions are central to decision governance: before changing how decisions are made, you need to explain how they are made; you need to explain why they need to be changed; and, you need to explain how changes that governance brings should lead to better decisions. So the question is: What is a good…
Let’s assume that there is a situation you observed, and you want to understand the decision that led to it – maybe there is something particularly good about the situation and you want to see how to increase the probability that this happens again, or there is something you would want to prevent from happening…