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subsequent decision-making

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Victor Smith is a psychiatric nurse practitioner. He just heard about someone who had a bad reaction to a medication that is used for depression. With regard to at least three decision-making heuristics, discuss his possible subsequent decision-making.

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This solution discusses his possible subsequent decision-making.

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Decision Making Heuristics:

Heuristics refers to a procedure of solving problems using a trial and error method by using known criteria to unknown factors through incremental exploration. It relies heavily on experience, common sense, learning and creativity. They are used to reduce the use of mental effort in decision making. The three types of decision making heuristics that Victor Smith should use in decision making are the representativeness heuristic, the availability heuristic, the prospect theory heuristic and the anchoring and adjustment heuristic (Tversky & Kahneman, 1974).

The representativeness heuristic is a cognitive heuristic whereby decisions are made based on how a given individual case is representative and appears to be independent of the other information regarding its actual likelihood. When one is judging the probability of an event they resort to heuristics which are less than perfectly correlated with the variables that determine the probability of events. When making decisions, Victor Smith should not be overconfident by assuming that future patterns will resemble past ones and looking at familiar patterns in uncertain situation without sufficient considerations for the probability of the pattern repeating itself or of the reasons for ...

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