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 ...

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 ...

I analyze two expected utility models which abandon the consequentialist assumption of terminal wealth positions. In the expected utility of gambling wealth model, in which initial wealth is allowed ...

Why do people make short-term decisions that may not be in their long-term interest? An October 22-25 working group takes ...

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 ...