Intuition can lead to more effective decision-making than analysis under certain conditions. This assumption can be … regarded as common sense. However, dominant research streams on intuition effectiveness in decision-making conceptualize … article suggests the structuredness of the decision problem as the main criterion for intuition effectiveness, and proposes …

Welfare Economics. A key theme of Cognitive Economics is finite cognition (often misleadingly called "bounded rationality …

Welfare Economics. A key theme of Cognitive Economics is finite cognition (often misleadingly called “bounded rationality …

Expected utility theory (EUT) is currently the standard framework which formally defines rational decision-making under …

procedure. At any given trial, the decision maker deliberately randomizes over mental categories and chooses the best item … decision maker picks the default option. We provide the necessary and sufficient conditions that characterize this model in a …

We challenge the standard definition of economic rationality as consistency by making use of a novel distinction … between axioms of decision theory: consistency and preference axioms. We argue that this distinction has been overlooked by … the literature and, as a result, evidence that consistency is a proxy of decision-making ability is often based on …

their influence on investors' decision-making processes. The participants filled out questionnaires containing two parts: 1 …

This paper proposes a model of attention allocation in decision-making. Attention has various definitions across the …