A theory of choice under risk highlighting psychological factors influencing decisions.
A detailed exploration of voting as a method of group decision-making, its mechanisms, and comparative aspects across economic thought.
An optimal choice to not acquire information when the benefit of using the information is expected to be less than the cost of obtaining it.
The concept of opportunity cost deals with the cost of an opportunity forgone, measured by the benefits of the best alternative option.
A variable used to determine the employment of policy instruments in economics.
A situation where a decision-maker knows possible events but not their exact probabilities.
An approach to economic analysis that incorporates psychological insights into human behaviour to explain economic decisions.
A field of economics that studies the effects of psychological, cognitive, emotional, cultural, and social factors on the economic decisions of individuals and institutions.
Past events which play no part in rational present decision-making in the context of economics.
A comprehensive look at the concept of a credible threat in economics, its definition, and relevance across various economic theories.
A graphical representation of the choices in a decision-making process, consisting of nodes, branches, and endpoints.
An overview of the term 'ex ante,' its definitions, and implications in economic analysis.
An in-depth economic analysis of household decision-making models, focusing on consumption, labor supply, and the cooperative versus non-cooperative dynamics within households.
An assumption on the rate of time preference reflecting a bias towards present rewards, showing a declining discount rate as the time horizon increases.
In an economic model, a quantity which is taken as given by an economic agent in their decision-making process.
An overview of partial adjustment in economic decision-making, including its rationale and implications.
A generalization of expected utility theory, explaining choices observed in the Allais paradox and other anomalies.
The use of logical reasoning based on available facts to reach conclusions.
A theory of choice predicated on the anticipation of regret, utilized in decision-making processes to explain economic anomalies.
A decision-making strategy that aims at reaching an adequate outcome rather than an optimal outcome
An exploration of the search model in economics, focusing on the optimal decision-making of agents facing choices with random pay-offs and costly delays.
A voting rule requiring unanimous approval for an alternative to be selected.
The expression of preferences by participation in the decision-making process.
