Epistemic decision theory integrates formal models of rational belief with the processes of decision‐making under uncertainty. It addresses how agents should revise their credences in light of new and ...

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 ...

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 ...

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 ...

There is no Planet B. Source: Markus Spiske/Pexels What is your experience of the recent heatwaves scorching Western Europe, the United States, and China? While my toddler rejoices in the almost ...

Emergent large language models (LLMs) such as OpenAI’s ChatGPT (particularly its latest iteration, GPT-4), Claude AI and Gemini have demonstrated limited decision-making. In this article, we’ll ...

In today’s fast-paced business environment, making well-informed decisions quickly is a crucial skill for leaders. Understanding different models of decision-making can provide you with the tools to ...

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 ...