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 ...

In the largest experiment studying people's "risky choices" to date, researchers show how machine learning can be used to test and improve long-stagnant theories of human decision-making.

Discover how regret theory affects choices. It predicts decision-making by evaluating the anticipation of regret, impacting ...

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 ...

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 ...

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 ...

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 ...