Bracketing Decisions推荐.pdfVIP

Bracketing Decisions 6 Consider your friend who has a final paper due in a relatively important class. The paper will be worth about half of his grade in the class. It is Friday at 7:00 P.M ., and he must complete the paper by Monday morning at 9:00 A .M . He believes that the paper will take about six hours of hard work to complete. However, he is in the middle of a role-playing video game and is really itching to play the game for at least another 20 minutes before diving into his paper. Upon considering his options, he believes the 20 minutes will not set him back too far because it is such a small amount of time. Further, the 20 minutes would not allow him to make very much progress at all on his paper relative to the amount of progress he might be able to make on the game. Thus, he decides to play. About 20 minutes later, he faces the same decision. But 20 minutes still seems like such a short period compared to the amount of time he has left to finish the paper. So, he continues to play. At about 3:00 A .M ., after playing for eight hours, he decides to go to bed and work on the paper the next day. He regrets the amount of time he spent playing video games, and realizes that he could have made significant progress on the paper and could perhaps have completed it by then. He laments, “How could I have played video games for eight hours instead of working on my paper?” Consider, alternatively, a company headed by two people: a CEO and a president of operations. The CEO has ultimate responsibility for the company, and the president directly oversees the eight team leaders who make up the senior management. Each of the team leaders has some autonomy and can decide on the particular projects that they will undertake. The CEO is worried that although the company is profitable, profits are smaller than she would like