Response to “Why did they do that?”
Debs Butler (Debs Regent inSL) says:
Thank you for this article Tateru, this is a nice article.
It is true that everyone has their own set of utility values, which differ from person to person (as well as information, experience and circumstance).
All choices are therefore subjective and according to each individual’s collective understanding, embedded into the experience and circumstance of that person who is making the decision.
Therefore, I agree Tateru, with the underlying principle of Information Theory, we all make the best decision we can at the time based on the information we have at that time.
I also agree that different people do not make decisions for the same reasons, because all our ‘reasons’ differ because all our aims also differ.
Before you criticise another person (corporation or organization), it is wise to appreciate that they are doing the best they can with the information they have at the time, given their own particular goals and identifications.
If you want to encourage an alternative decision, I suggest that the best way you do this would be to add to the decision makers information pool with accurate, detailed and quantifiable information.
… criticism welcomed … add to my information pool please
*smiles*
Debs Butler (Debs Regent inSL) says:
As I stated earlier, there is a body of evidence in Information Theory that supports Tateru’s arguments here, for corporations as well as individuals.
Many large corporations follow well established and proven economic principles to increase profits - their ‘utility value’ is in maximising profits for the benefit of the shareholders whether it be legislated or not, massaging their individual bonuses in the process.
With the recent increase in information (and collapse of share prices and occasionally bonuses), errors in the ‘thinking’ processes of the corporations are being made increasingly apparent making change happen with new choices being the outcome.
Once again we go on the merry-go-round of information available + utility value leads to choice made (leaving out the added complexity of probabilities).
Again, back to Tateru’s original posting, “they’re making that choice with good reasons”. - reasons to ‘them’ that is.
*thanks you for feedback*
