Decision theory provides a structured framework for analysing how individuals and institutions make choices amidst uncertainty. It combines the rigour of mathematical models—such as expected utility ...

TROY, N.Y. — A new theory of economic decision-making from Mina Mahmoudi, a lecturer in the Department of Economics at Rensselaer Polytechnic Institute, offers an explanation as to why humans, in ...

Strategic decision making lies at the heart of game theory and market competition research, providing a framework to understand how rational agents interact under conditions of uncertainty and ...

Do you use these mental models for efficient decision-making in your daily life? If not, you’re missing out on the opportunity to make more thoughtful and informed choices. Mental models are cognitive ...

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 ...