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Through an increased understanding of mental accounting differences in decision making based on different resources, and different reactions based on similar outcomes can be greater understood. As Thaler puts it, "All organizations, from General Motors down to single person households, have explicit and/or implicit accounting systems.
The Journal of Behavioral Decision Making is a peer-reviewed academic journal covering the study of psychological decision-making processes. It was established in 1988 and is published five times per year by John Wiley & Sons. The editor-in-chief is George Wright (Strathclyde Business School).
Decision is a peer-reviewed academic journal covering research about decision making within the boundaries of an organization, as well as decisions involving inter-firm coordination. According to the 2023 Journal Citation Reports , Decision Sciences has an impact factor of 1.5, placing it in the third quartile (286/401) of journals in the ...
A decision-forcing case is also a kind of case study. That is, it is an examination of an incident that took place at some time in the past. However, in contrast to a retrospective case study, which provides a complete description of the events in question, a decision-forcing case is based upon an "interrupted narrative."
The anchoring effect was also found to be present in a study [8] in the Journal of Real Estate Research in relation to house prices. In this investigation, it was established that the 2-year and 9-year highs on the Case-Shiller House Price Index could be used as anchors in predicting current house prices.
In this example a company should prefer product B's risk and payoffs under realistic risk preference coefficients. Multiple-criteria decision-making (MCDM) or multiple-criteria decision analysis (MCDA) is a sub-discipline of operations research that explicitly evaluates multiple conflicting criteria in decision making (both in daily life and in settings such as business, government and medicine).
Judgment and Decision Making is a bimonthly peer-reviewed open access scientific journal covering the psychology of human judgment and decision making. It is an online-only journal and was established in 2006. It was published by the Society for Judgment and Decision Making and considered as journal of both the Society for Judgment and Decision ...
Regret is a negative emotion with a powerful social and reputational component, and is central to how humans learn from experience and to the human psychology of risk aversion. Conscious anticipation of regret creates a feedback loop that transcends regret from the emotional realm—often modeled as mere human behavior —into the realm of the ...