A perfectly rational decision-maker chooses the best action with the highest utility gain from a set of possible actions. The optimality principles that describe such decision processes do not take into account the computational costs of finding the optimal action. Bounded rational decision-making addresses this problem by specifically trading off information-processing costs and expected utili...

The paper to be presented at this conference (Dietrich and List 2013) sketches some basic ideas underlying a broader, ongoing decision-theoretic project. In that project, we aim to develop a new, general approach to decision theory which (i) improves upon standard decision theory in both its idealized, ‘rational’ and its more psychologically informed, ‘behavioural’variants (the former are assoc...

Decision theory is the analysis of the behavior of an individual facing nonstrategic uncertainty—that is, uncertainty that is due to what we term “Nature” (a stochastic natural event such as a coin flip, seasonal crop loss, personal illness, and the like) or, if other individuals are involved, their behavior is treated as a statistical distribution known to the decision maker. Decision theory d...

Decision theory is the analysis of the behavior of an individual facing nonstrategic uncertainty—that is, uncertainty that is due to what we term “Nature” (a stochastic natural event such as a coin flip, seasonal crop loss, personal illness, and the like) or, if other individuals are involved, their behavior is treated as a statistical distribution known to the decision maker. Decision theory d...

Nowadays, the research on the effect of emotion on rational person behavior is a problem of concern in the field of desicion science, and it is a forward direction to carry out the relevant research using the method of decision neuroscience. In this paper, we use the method of meta-analysis to analyze 30 effect values which were extracted from 19 literatures. The result shows that emotion has a...

introduction sustainable agriculture can be more objective than fit into the conceptual framework and it is closely associated with rational behavior. the result of such perspective is that sustainable agriculture is an activity based on rationality. the beginning of the formation of stable rationality requires training to create intellectual flexibility for the farmers in order to acquire know...

(1) To set forth the “rational” model of decision making and, with reference to empirical studies, show that its assumptions neither apply to most actual decision-making situations, nor are helpful guides to improved decision making. Having criticized the “rational” model, the question of whether companies should even strive to follow it is briefly considered, and a few reasons for its continui...

An influential program of psychological research suggests that people's judgements and decisions depend on the way in which information is presented, or ‘framed’. In a central choice paradigm, decision-makers seem to adopt different preferences, attitudes risk, depending whether options specify number people who will be saved corresponding die. It standardly assumed such responses violate found...