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 ...

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 ...

Why do people make short-term decisions that may not be in their long-term interest? An October 22-25 working group takes stock of a new body of evidence from experiments and observations to explore ...

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 ...

Economic rationality has long been a foundational principle in financial decision-making. According to classical theory, a rational consumer or investor evaluates all options based on costs, benefits ...

Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author. In today’s digital world, how we decide what to buy, read or watch has radically changed.

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 ...