This study analyses the factors influencing coaching decisions when substituting players, particularly in light of the rule change from three to five permitted substitutions. To this end, 161 coaches and their decisions are analysed in 1,836 Bundesliga matches from 2017/2018 to 2022/2023,...

”Decision making always and necessarily implies human actions, which, when facing an external event (information) must identify the event’s future status and set up the potential action ways leading to suggested goal accomplishment”

Uncertainty means partially or totally knowing the probabilities to accomplish an action’s potential results.

Most studies on the role of incentives on risk attitude report data obtained from within-subject experimental investigations. This may however raise an issue of sequentiality of effects as later choices may be influenced by earlier ones. This paper reports instead between-subject results on the...

Decisions’ basic factors during decision making are interdependent, which reflects the features of the decision making they generate. Economic decisions in certainty conditions are characterized by maximum probability to accomplish pursued goals using the predicted ways. The elements involved...

Recent scholarly discussions suggest the potential superiority of intuition over analysis in tasks with high equivocality. However, it remains unclear when and whether intuition is preferable when both uncertainty and equivocality are considered. Addressing this gap, the article introduces a...

Investment in infrastructure such as the information and communication technology sector requires large, substantial amounts, most of which are sunk or irreversible. Uncertainty of market demand, competition, costs and public policy complicates the investment decision process. This paper...

This paper examines inconsistencies in the decision-making of a sample of 2,248 adolescents from El Salvador when completing two classic experiments: temporal discounting and risk preferences. Inconsistency in responses is a significant issue when collecting experimental data because it implies...

We develop an axiomatic approach to decision under uncertainty that explicitly takes into account the information available to the decision maker. The information is described by a set of priors and a reference prior. We define a notion of imprecision for this informational setting and show that...

Dana Scott provides a necessary and sufficient condition for a given probability capacity can be decomposed into a unique additive probability and a unique strictly increasing distortion function. Given this result, we characterize a family of preferences defined over the lottery acts (the...