Judgment and decision making

For many decades, research in judgment and decision making has examined behavioral violations of rational choice theory. In that framework, rationality is expressed as a single correct decision shared by experimenters and subjects that satisfies internal coherence within a set of preferences and bel...

Full description

Saved in:
Bibliographic Details
Published inAnnual review of psychology Vol. 49; no. 1; pp. 447 - 477
Main Authors MELLERS, B. A, SCHWARTZ, A, COOKE, A. D. J
Format Journal Article
LanguageEnglish
Published Palo Alto, CA Annual Reviews 01.01.1998
Annual Reviews, Inc
Subjects
Biological and medical sciences
Choice Behavior - physiology
Cognition. Intelligence
Conflict (Psychology)
Decision making
Decision Making - physiology
Decision making. Choice
Emotions - physiology
Fundamental and applied biological sciences. Psychology
Humans
Judgment
Judgment (Psychology)
Judgment - physiology
Logic
Psychological Theory
Psychology
Psychology. Psychoanalysis. Psychiatry
Psychology. Psychophysiology
Risk-Taking
Belief
Human
Affect affectivity
Uncertainty
Choice
Rational irrational
Decision making
Risk
Cognition
Emotion emotionality
Review
Preference
Judgment
Online AccessGet full text

Cover

More Information
Summary:For many decades, research in judgment and decision making has examined behavioral violations of rational choice theory. In that framework, rationality is expressed as a single correct decision shared by experimenters and subjects that satisfies internal coherence within a set of preferences and beliefs. Outside of psychology, social scientists are now debating the need to modify rational choice theory with behavioral assumptions. Within psychology, researchers are debating assumptions about errors for many different definitions of rationality. Alternative frameworks are being proposed. These frameworks view decisions as more reasonable and adaptive that previously thought. For example, "rule following." Rule following, which occurs when a rule or norm is applied to a situation, often minimizes effort and provides satisfying solutions that are "good enough," though not necessarily the best. When rules are ambiguous, people look for reasons to guide their decisions. They may also let their emotions take charge. This chapter presents recent research on judgment and decision making from traditional and alternative frameworks.
Bibliography:ObjectType-Article-1
SourceType-Scholarly Journals-1
ObjectType-Feature-3
content type line 23
ObjectType-Review-2
ISSN:0066-4308
1545-2085
DOI:10.1146/annurev.psych.49.1.447