Decision theory is a cornerstone of economic analysis, providing a framework for understanding how individuals and institutions make choices under conditions of uncertainty and risk. At its core, the ...

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 ...

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 ...

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 ...

Do you use these mental models for efficient decision-making in your daily life? If not, you’re missing out on the opportunity to make more thoughtful and informed choices. Mental models are cognitive ...

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 ...