Behavioral Decision Theories that Explain Decision-Making Processes

Kazuhisa Takemura
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Kazuhisa Takemura: Waseda University

Chapter Chapter 12 in Behavioral Decision Theory, 2014, pp 143-164 from Springer

Abstract: Abstract This article will explain various behavioral decision theories related to decision-making processes. As explained last time, decision strategies for decision-making take numerous forms. The selection of decision strategies is affected by such condition factors as the number of alternatives and the number of attributes. Numerous models have been proposed to explain the psychological processes related to such a selection of decision strategies. This chapter will introduce some models that are useful to explain decision-making processes. It ends with some speculation about the future of modern behavioral decision theories while referring to their relation with fields related to neuroscience, such as neuroeconomics, that have been developed in recent years.

Keywords: Prospect Theory; Cognitive Effort; Decision Strategy; Processing Resource; Expect Utility Theory (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-4-431-54580-4_12

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DOI: 10.1007/978-4-431-54580-4_12

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