Phil has decided that decisions that can’t come to a resolution should be solved by flipping a coin. Phil has gotten one of those special coins for disputes between him and Claire. The two have been arguing for an hour about whether to be cremated and after being unable to land on a decision, Phil opts to flip the coin. As a final dispute, the two flip the coin to determine how they should spend their retirement account. Unfortunately for the kids, the coin decides that they spend it on a beach condo. Typical either-or-decision making involves a careful consideration of costs and benefits, but interdependent decision making may not be so easy.
See more: cost benefit analysis, decision making, either-or-decisions interdependent utility functions, tradeoffs
Economics of Modern Family 