Search results
Results from the WOW.Com Content Network
In psychology, decision-making (also spelled decision making and decisionmaking) is regarded as the cognitive process resulting in the selection of a belief or a course of action among several possible alternative options. It could be either rational or irrational. The decision-making process is a reasoning process based on assumptions of ...
The significance of emotions in decision-making has generally been ignored by rational choice theory, according to these critics. Moreover, emotional choice theorists contend that the rational choice paradigm has difficulty incorporating emotions into its models, because it cannot account for the social nature of emotions.
Daniel Kahneman (/ ˈ k ɑː n ə m ə n /; Hebrew: דניאל כהנמן; March 5, 1934 – March 27, 2024) was an Israeli-American psychologist best-known for his work on the psychology of judgment and decision-making as well as behavioral economics, for which he was awarded the 2002 Nobel Memorial Prize in Economic Sciences together with Vernon L. Smith.
Economics. In decision theory, the von Neumann–Morgenstern (VNM) utility theorem demonstrates that rational choice under uncertainty involves making decisions that take the form of maximizing the expected value of some cardinal utility function. This function is known as the von Neumann–Morgenstern utility function.
In psychology, a dual process theory provides an account of how thought can arise in two different ways, or as a result of two different processes. Often, the two processes consist of an implicit (automatic), unconscious process and an explicit (controlled), conscious process. Verbalized explicit processes or attitudes and actions may change ...
Application. Vroom’s normative model of decision-making has been used in a wide array of organizational settings to help leaders select the best decision-making style and also to describe the behaviours of leaders and group members. [4] Further, Vroom’s model has been applied to research in the areas of gender and leadership style, [5] and ...
Jungian cognitive functions. Psychological functions, as described by Carl Jung in his book Psychological Types, are particular mental processes within a person's psyche that are present regardless of common circumstances. [1] This is a concept that serves as one of the foundations for his theory on personality type.
Intuition in the context of decision-making is defined as a "non-sequential information-processing mode." [1] It is distinct from insight (a much more protracted process) and can be contrasted with the deliberative style of decision-making. Intuition can influence judgment through either emotion or cognition, and there has been some suggestion ...