Critical thinking and Strategic decision

Tamires Soares
1 min readJun 16, 2021

Modern strategic decision theory focuses on those actions taken by senior executives that commit substantial resources, set precedents, and create waves of less important decisions. Behavioral assumptions dispute the notion that strategic decisions are wholly rational in a neoclassical economics sense. It classifies deviations from rationality as non-standard preferences, non-standard beliefs, and non-standard decisions.
The process of defining critical thinking or strategic decision requires an interdisciplinary perspective: Philosophy, Psychology, Behavioral Economics, Experimental Game Theory.
These questions can be applied to strategic decisions by asking these questions that are unique to make strategic decisions when you are developing a project in different fields.

1-How should you set up decision criteria and design your metrics?

2-Is your chosen metric incentive-compatible?

3-What quality should you make this decision at and how much should you pay for perfect information?

4-How do emotions, heuristics, and biases play into decision-making?

5-How does changing the presentation of information influence choice behavior?

6-How do you optimize your outcomes when making decisions in a group context?

7-Is the decision objective ethical?
References
McPeck, J. (1990b). Critical Thinking and Subject Specificity: A Reply to Ennis. Educational Researcher. vol. 19
Paul, R., & Elder, L. (1997). Critical thinking: Implications for instruction of the stage theory. Journal of Developmental Education. 20 (3).
Edwards, Ward. “Behavioral decision theory.” Annual review of psychology 12.1 (1961): 473–498.
Straffin Jr, Philip D. Game theory and strategy. Vol. 36. MAA, 1993.
Tamires Soares

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Tamires Soares

Tamires is technical advisor and instructor focusing on reservoir/production engineering and data analytics .