a 2012

Decision-making in Economic Theory

MÁČE, Jan and David ZEMAN

Basic information

Original name

Decision-making in Economic Theory

Authors

MÁČE, Jan and David ZEMAN

Edition

Education in the Modern European Enviroment, 2012

Other information

Language

English

Type of outcome

Konferenční abstrakt

Field of Study

50200 5.2 Economics and Business

Country of publisher

Croatia

Confidentiality degree

není předmětem státního či obchodního tajemství

Organization unit

University College Prague – University of International Relations and Institute of Hospitality Management and Economics, Ltd.

ISBN

978-953-7210-55-7

Keywords in English

theory of rational decision-making, heuristic method, cognitive psychology, decision making under uncertainty, the Allais paradox, prospect theory
Změněno: 10/10/2012 10:11, PhDr. Jan Máče, Ph.D.

Abstract

V originále

The basis of economic decision-making processes are always individual entities. Traditional economic science assumes that individual actors behave rationally and have only one aim in their decision-making, which is to maximize expected utility. The authors of modern economic theory, however, have come to realize that the decision-making of economic agents is a much more complicated process, which includes psychological factors. The basis of economic decision-making processes are always individual entities. Traditional The basis of economic decision-making processes are always individual entities. Traditional The basis of economic decision-making processes are always individual entities. Traditional economic science assumes that individual actors behave rationally and have only one aim in their decision-making, which is to maximize expected utility. The authors of modern economic theory, however, have come to realize that the decision-making of economic agents is a much more complicated process, which includes psychological factors.