Prospect theory, proposed by Kahneman and Tversky in 1979, has been acknowledged as an excellent decision-making theory for the bounded rationality of investors tending to show cognitive bias under ...

Logic studies how arguments work, and how ideas can fit together. Decision theory studies how decisions should be made, especially under uncertainty. Game theory considers how we reason strategically, ...

Decision theory provides a formal framework for how agents should make choices under certainty, risk and uncertainty. It distinguishes normative prescriptions—how an ideal rational agent ought to ...

A recent series of experiments conducted by Ph.D. student Maya Enisman and Dr. Tali Kleiman from the Psychology department at the Hebrew University of Jerusalem, challenges the longstanding theory of ...

There is a disconnect between what we think happens when we make a decision and what actually happens in the brain during that process, suggests Indiana University Professor of Psychological and Brain ...

There is no Planet B. Source: Markus Spiske/Pexels What is your experience of the recent heatwaves scorching Western Europe, the United States, and China? While my toddler rejoices in the almost ...

This post is a review of Choose Wisely: Rationality, Ethics, and the Art of Decision-Making. By Barry Schwartz and Richard Schuldenfrei. Yale University Press. 277 pp. $32.50. Rational Choice Theory ...

Isn’t it tragic that so many prominent leaders rely on their intuition for their decision-making process? Gut reactions are seen as something almost magical, acquired either by hard-earned experience ...

As artificial intelligence revolutionizes the business world, a more subtle but equally powerful force is emerging: intuitive decision-making. Executives increasingly recognize that combining rational ...

Decision intelligence is an emerging field that combines data science, artificial intelligence (AI) and decision theory to improve organizational decision-making. It's important to note that the ...