Micro foundations of Decision-making

Jose Mathews and Indra Prasad Tirwa

Bhutan Journal of Business and Management, 2023

Abstract: Decision-making is primarily a mental activity of the decision-maker even when the decision-maker is confronted with the decision environment of data and context. This aspect of the psychological process is delineated into the intra- individual sub-systems of cognition, affect, motivation and personality traits. The sub-systems influence the decision-making process in interactive and integrative ways thereby the choice of the decision-maker become an outcome of cognition, affect and personality traits wherein it becomes interacting and intervening variables of significance. The mechanisms of cognition in the form of information- processing and knowledge structures, affect in the ways of the emotional processes of the decision-maker, motivation in the form of the pursuit of goals and personality traits in its constellation.

Keywords: Decision-making; Cognition; Affect; Motivation; Personality traits (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:eoq:bjbmjr:art39

DOI: 10.17102/bjbm.v6.4

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