The Rainmaker Show- Expected Utility Theory (Ep 19)
Greg continues his discussion about decision science from last week in this episode of the rainmaker Show as well as what is expected utility theory and how to use it.
01:07 Topic- The decision-making process
01:36 How does someone go about making a decision to buy a gym membership
02:53 Fundamental difference in the way the consumer thinks about buying
04:04 Evaluating risk when buying
04:30 Guarantees in the health and fitness industry is a no go
05:01 What is expected utility theory?
07:38 Flushing out their preferences
09:00 What does winning mean
09:34 Every action has to be ranked in order of preference
11:56 What are your professional values and preferences
13:41 Figure out your own preferences that are important to you
14:19 Wrap Up