Concept
Subjective weighting refers to the process by which individuals assign personal significance to different factors based on biases, preferences, or perceptions rather than objective criteria. This approach often influences decision-making, risk assessment, and evaluation, resulting in outcomes that are tailored to personal values but may lack universal applicability.
Relevant Degrees
Concept
Bias refers to a systematic error or deviation from the truth in data collection, analysis, interpretation, or review that can lead to incorrect conclusions. It can manifest in various forms such as cognitive, statistical, or social biases, influencing both individual perceptions and scientific outcomes.
Concept
Perception is the process by which individuals organize and interpret sensory information to give meaning to their environment. It involves complex interactions between sensory input, cognitive processes, and previous experiences, shaping how we understand and interact with the world around us.
Concept
Decision-making is a cognitive process that involves selecting a course of action from multiple alternatives, often under conditions of uncertainty. It is influenced by various factors such as individual biases, available information, and the decision-making environment.
Concept
Risk assessment is a systematic process of evaluating potential risks that could negatively impact an organization's ability to conduct business. It involves identifying, analyzing, and prioritizing risks to mitigate their impact through strategic planning and decision-making.
Concept
Concept
Cognitive bias refers to systematic patterns of deviation from norm or rationality in judgment, where individuals create their own 'subjective reality' from their perception of the input. These biases often result from the brain's attempt to simplify information processing, leading to errors in decision-making and judgment.
Concept
Anchoring is a cognitive bias where individuals rely heavily on the first piece of information encountered (the 'anchor') when making decisions. This initial information sets a reference point that significantly influences subsequent judgments and estimations, often leading to skewed outcomes.
Concept
Value judgment refers to an assessment that is based on personal or societal beliefs, preferences, or principles rather than objective criteria. It plays a crucial role in decision-making processes, influencing perceptions, behaviors, and policy formulation by reflecting cultural and ethical standards.
Concept
Preference Theory, developed by Catherine Hakim, suggests that women's choices, rather than structural factors, primarily determine their employment patterns and life outcomes. It emphasizes the role of personal preferences in shaping career paths, challenging traditional views on gender inequality in the workforce.
Concept
Utility Theory is a foundational concept in economics and decision theory that models how individuals make choices based on their preferences, aiming to maximize their satisfaction or utility. It assumes that people can rank their preferences and make decisions that provide them with the greatest expected utility, even under conditions of uncertainty.
Concept
Weighted ranking is a method used to prioritize or order items by assigning different weights to various criteria, allowing for a more nuanced evaluation than simple ranking. This approach is particularly useful in decision-making processes where multiple factors must be considered, such as in hiring, project selection, or product evaluation.
Concept
Weighted balancing is a method used to assess multiple factors with varying degrees of importance to reach a more informed decision or evaluation. By assigning different weights to components of a problem, you ensure that critical elements exert greater influence on the outcome, leading to more precise and representative conclusions.
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