Models of behavior in a variety of areas often assume that decision-makers will adhere to the axioms of economic … rationality. This requires that outcomes can be assigned objective values by stable evaluation frameworks. Yet both human and … is consistent with the axioms of rationality. We compare an economically rational strategy with a relative comparison …

. Nonlinear probability weighting has proven to be a robust empirical phenomenon and has been integrated in decision models, such … as cumulative prospect theory. Based on a laboratory experiment with real monetary incentives, we show that incidental … find that the application of a mechanical decision criterion, such as the maximization of expected value, immunizes men …

some axiomatic research review of Cumulative Prospect Theory (CPT) as a framework for decision under risk. …

El artículo discute la exposición de Santiago y Cante (2009) de la teoría de la decisión racional (TDR) y el modelo de …

understanding of rationality as valid inference; cognitive psychologists similarly speak of the superiority of the 'reason … notion of rationality is actually based on a profound skepticism about people's ability to reason. This notion goes back to … by reasoning led to the notion of rationality based on representation: people are rational when they are able to …

This review considers two explanations for behavioral decision-making in reference to the certainty and framing effects …

neuroscience of risky decision making. These findings include memory interference (worse verbatim memory is associated with better … reasoning); nonnumerical framing (framing effects increase when numbers are deleted from decision problems); developmental … decreases in gray matter and increases in brain connectivity; developmental reversals in memory, judgment, and decision making …

gambling task with ambivalent color stimuli (Experiment 2) and by enhancing the impact of gain or loss outcomes on decision … our expectations, Experiment 1 revealed incongruent effects of framing on attentional biases for positive vs. negative … effect of framing on decision making. Two additional experiments investigated effects of valence biases on risky decision …

employ sequential decision theory to analyze the game of incomplete information. The analysis is basic in that we employ a … Challenger using both a von-Neumann-Morgenstern decision rule and a Kahneman-Tversky decision rule. The formal results show that … the von Neumann-Morgenstern decision rule that are reversed from those made under the Kahneman-Tversky decision rule. We …