Overview
Welcome to the world of Rational thinking.
Introducing "Rational Will", a modern and intuitive decision analysis software for making good decisions.
What is a Good Decision? Or a Bad Decision?
In real life, most of the time, a decision is judged by its outcome, which is very unfortunate. Have you ever thought about playing Russian roulette? It is a gamble where the player places a single round in a revolver, spins the cylinder, puts the muzzle against his or her head, and pulls the trigger. If he wins, he gets a million-dollar. The probability of survival is 5/6. Yet, will you dare to play this game? If you love your life, then the answer should be a big 'No', right? If you die, the cost of your loss should be infinitely negative. Even if you win once, will you play this game again? No. Because you were just lucky, which is called "dumb luck." No matter how many times you win, the decision to play this gamble is always bad.
So, the key thing is 'the process of making a decision.' Not the outcome. In the book "Winning Decisions: Getting It Right the First Time" the author referred to the good outcome as 'dumb luck' when the process of making the decision was not good.
None can guarantee the outcome of any uncertain event. But, the rational decision-making process maximizes the probability of the best outcome and saves you (with reasoning) from regrets if you get a bad outcome.
Modeling Tools Offered by Rational Will
When you start the Rational Will software, you will be presented with the following screen, where you can choose the decision modeling tool you want to use.
Rational Will offers you various decision modeling tools. For every tool, there is a set of documentation pages. Please visit the individual documentation page for the specific tools as given here.
- Decision Tree,
- Analytic Hierarchy Process,
- Markov Decision Process,
- Cost-Effectiveness Analysis,
- Bayesian Network,
- Bayesian Inference (Diachronic Interpretation)
- Decision Matrix
A bundle of many of our software
You may notice that we offer some stand-alone decision analysis software, like Decision Tree Analyzer, Analytic Hierarchy Process, Bayesian Network Software, etc. If you get Rational Will, then you will get them into a single software, which is definitely a streamlined user experience.
Finally,
Students of the Decision Analysis course will find this tool extremely useful for learning various concepts from Normative Decision Theories, Utility functions from Behavioral Economics, Sensitivity Analysis, Monte Carlo Simulation, Stochastic Dominance, Multi-criteria decision analysis, and lots more. Even Markov Chain and Markov Decision Process modeling with Cost-Effectiveness Analysis are included within Rational Will. This feature is especially important for healthcare students. Rational Will is intuitive enough with the modern user interface and user experience that it can be used easily in daily life for solving real-life problems.
Make Rational Decisions and never regret a decision again.