This commentary expands on two of the key themes briefly raised in the paper involving analysis of the evidence about key contextual influences on decisions of value. The first theme focuses on the need to explore in more detail what is called backstage decision-making looking at how actual decisions are made drawing on evidence from ethnographies about decision-making. These studies point to l...

The formation of expectations plays a key role in our understanding of the macroeconomy. Historically, economists have moved from a naive, mechanical representation of expectations to a more sphisticated one, where rational agents optimally use their information to forecast the future. To be able to do so, agents need to use a model, which allows them to compute the expectations of the relevant...

BACKGROUND One of social problems which has affected our society and resulted in problems for different groups of people is drug abuse. This issue indicates a serious psychological, physical and social problem in community. Social skills have positive and successful influences in prevention of substance abuse. This includes the ability to explain events correctly and then appropriate decision m...

This study draws on information processing theory to investigate predictors of strategic-decision quality in public organizations. Information processing theory argues that (a) rational planning practices contribute to strategicdecision quality by injecting information into decision making and (b) decision makers contribute to strategic-decision quality by exchanging information during decision...

An interesting problem which has been widely investigated is under what circumstances will a society of rational agents realize some particular stable situations, and whether they satisfy the condition of social efficiency? This will crucially depend on how they interact and what information they have when they interact. For instance, when strategic interactions are modeled as coordination game...

Statistical decision theory axiomatically assumes that the relative desirability of different options that humans perceive is well described by assigning them optionspecific scalar utility functions. However, this assumption is refuted by observed human behavior, including studies wherein preferences have been shown to change systematically simply through variation in the set of choice options ...