Decision theory provides a structured framework for analysing how individuals and institutions make choices amidst uncertainty. It combines the rigour of mathematical models—such as expected utility ...

Regret theory postulates that decision‐makers do not solely evaluate outcomes based on traditional expected utility; they also incorporate the anticipated emotional response resulting from realising ...

TROY, N.Y. — A new theory of economic decision-making from Mina Mahmoudi, a lecturer in the Department of Economics at Rensselaer Polytechnic Institute, offers an explanation as to why humans, in ...

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 ...

Historically, emotions have been viewed as irrational, unstable or primitive—hardly the stuff of sound decision-making. Enlightenment thinkers like Descartes and Kant privileged reason as the highest ...

In today’s fast-paced business environment, making well-informed decisions quickly is a crucial skill for leaders. Understanding different models of decision-making can provide you with the tools to ...

A new theory of economic decision-making offers an explanation as to why humans, in general, make decisions that are simply adequate, not optimal. A new theory of economic decision-making from Mina ...