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 ...

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 ...

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 ...