Explore: Economic Aspects Of Decision Making

psychology, decision-making (also spelled decision making and decisionmaking) is regarded as the cognitive process resulting in the selection of a belief

are central to decision-making. In the 18th century, Daniel Bernoulli introduced the concept of "expected utility" in the context of gambling, which

Dynamic decision-making (DDM) is interdependent decision-making that takes place in an environment that changes over time either due to the previous actions

A buying center, also called a decision-making unit (DMU), brings together "all those members of an organization who become involved in the buying process

Automated decision-making (ADM) is the use of data, machines and algorithms to make decisions in a range of contexts, including public administration

Consensus decision-making is a group decision-making process in which participants work together to develop proposals for actions that achieve a broad

The Journal of Economic Perspectives. 5 (1): 193–206. doi:10.1257/jep.5.1.193. Plous S (1993). The Psychology of Judgment and Decision Making. New York:

explain human decision-making, the ability to process multiple alternatives and to follow through on a plan of action. It studies how economic behavior can

Elimination by aspects is well used in the early stage of business angels' decision-making process since it facilitates a fast-decision-making tool - alternatives

a branch of economics involving the application of economic methods in the organizational decision-making process. Economics is the study of the production