Titlebook: Behavioral Decision Theory; Psychological and Ma Kazuhisa Takemura Book 20141st edition Springer Japan 2014 Behavioral decision theory.Beha

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Ordinal Utility and Preference Reversal PhenomenonChapter 1 described that decision-making phenomena are broadly divisible into those under certainty, those under risk, and others under uncertainty. This chapter first introduces the concept of utility used to explain such decision-making phenomena and briefly presents the idea of traditional ordinal utility theory.

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Decision-Making Processs. This chapter also elucidates the task variables and emotional factors affecting the decision-making process. The final section explains the changes made to cognition in psychological processes after decision making.

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https://doi.org/10.1007/978-3-031-50840-0bable price at which Gamble . and Gamble . could be sold if the respondents owned them. In most cases, Gamble . was preferred in the selection problem and Gamble . was priced higher than the others in the pricing question (Slovic and Lichtenstein 1983; Slovic 1995; Tversky and Thaler 1990).

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