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

 

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