Behavioral Decision Theory
Abstract
This report provides a critical overview to work, its applicability and directions for further research. As might be expected with a burgeoning, multi-disciplinary field, it is difficult to keep track of all that is done and to draw the implications of research done in one discipline for research done in another. This report surveys the entire field asking, (1) what is known. (2) what good is it. and (3) what else must we learn. Particular attention is given to work integrating research describing how people do make decisions with normative work that prescribes how people should make decisions.
Integrity signals
Registry
Cites
Statistics
Claims the paper makes
Claims other papers make about this one
Each is checked against this paper’s own text: does it say what the citing paper says it does?
The outcome of one's perceived losses tends to be more eminent than the impact of his/her perceived gains.
“The loss aversion put together into the prospect theory postulates that the outcome of one’s perceived losses tends to be more eminent than the impact of his/her perceived gains (Einhorn and Hogarth 1981; Slovic et al. 1977).”
From Health insurance policy renewal: an exploration of reputation, performance, and affect to understand customer inertia (2022) · cites this paper as Slovic et al. 1977
Cited by
Sorted by citations
The Framing of Decisions and the Psychology of Choice
Tversky, A., & Kahneman, D. (1981) · Science · doi:10.1126/science.7455683 · Cited by 17,604 · see citing works
Confirmation Bias: A Ubiquitous Phenomenon in Many Guises
Nickerson, R. S. (1998) · Review of General Psychology · doi:10.1037/1089-2680.2.2.175 · Cited by 7,267 · see citing works
Dimensions of Consumer Expertise
Alba, J. W., & Hutchinson, J. W. (1987) · Journal of Consumer Research · doi:10.1086/209080 · Cited by 4,375 · see citing works
Extensional versus intuitive reasoning: The conjunction fallacy in probability judgment.
Tversky, A., & Kahneman, D. (1983) · Psychological Review · doi:10.1037/0033-295x.90.4.293 · Cited by 3,991 · see citing works
“Clinical versus Actuarial Judgment.”
Dawes, R. M., Faust, D., & Meehl, P. E. (1989) · Science · doi:10.1126/science.2648573 · Cited by 2,298 · see citing works
Behavioral Decision Theory: Processes of Judgement and Choice
Einhorn, H. J., & Hogarth, R. M. (1981) · Annual Review of Psychology · doi:10.1146/annurev.ps.32.020181.000413 · Cited by 1,691 · see citing works
Consumer perceived risk: conceptualisations and models
Mitchell, V. (1999) · European Journal of Marketing · doi:10.1108/03090569910249229 · Cited by 1,582 · see citing works
Support theory: a nonextensional representation of subjective probability
Tversky, A., & Koehler, D. J. (1994) · Psychological Review · doi:10.1037/0033-295x.101.4.547 · Cited by 1,167 · see citing works
Dunning, D., Meyerowitz, J. A., & Holzberg, A. D. (1989) · Journal of Personality and Social Psychology · doi:10.1037/0022-3514.57.6.1082 · Cited by 758 · see citing works
Intuitive theories of events and the effects of base-rate information on prediction
Ajzen, I. (1977) · Journal of Personality and Social Psychology · doi:10.1037/0022-3514.35.5.303 · Cited by 503 · see citing works
Bias and error in human judgment
Kruglanski, A. W., & Ajzen, I. (1983) · European Journal of Social Psychology · doi:10.1002/ejsp.2420130102 · Cited by 346 · see citing works
Suicide, motor vehicle fatalities, and the mass media: evidence toward a theory of suggestion.
Phillips, D. P. (1979) · American Journal of Sociology · doi:10.1086/226904 · Cited by 189 · see citing works
Williams, D. J., & Noyes, J. M. (2007) · Theoretical Issues in Ergonomics Science · doi:10.1080/14639220500484419 · Cited by 179 · see citing works
Development and Pilot Evaluation of a Computer-Based Support System for Women with Breast Cancer
Gustafson, D., Wise, M., McTavish, F., Taylor, J. O., Wolberg, W., Stewart, J., Smalley, R., & Bosworth, K. (1993) · Journal of Psychosocial Oncology · doi:10.1300/j077v11n04_05 · Cited by 156 · see citing works
Impulsive action: emotional impulses and their control
Frijda, N. H., Ridderinkhof, K. R., & Rietveld, E. (2014) · Frontiers in Psychology · doi:10.3389/fpsyg.2014.00518 · Cited by 79 · see citing works
Attribution Theory: A Theoretical Framework for Understanding Information Systems Success
Snead, K. C., Magal, S. R., Christensen, L. F., & Ndede-Amadi, A. A. (2015) · Systemic Practice and Action Research · doi:10.1007/s11213-014-9328-x · Cited by 42 · see citing works
Kautish, P., Khare, A., & Sharma, R. (2022) · Journal of Marketing Analytics · doi:10.1057/s41270-021-00134-7 · Cited by 25 · see citing works
Strategic cognitive sequencing: a computational cognitive neuroscience approach
Herd, S. A., Krueger, K. A., Kriete, T. E., Huang, T.-R., Hazy, T. E., & O'Reilly, R. C. (2013) · Computational Intelligence and Neuroscience · doi:10.1155/2013/149329 · Cited by 20 · see citing works
Zimmer, J. C., Tams, S., Craig, K., Thatcher, J., & Pak, R. (2015) · Journal of Business Economics · doi:10.1007/s11573-015-0762-8 · Cited by 9 · see citing works
- Authors
- Slovic, P., Fischhoff, B., & Lichtenstein, S.
- Affiliations
- Decision Research (US)
- Venue
- Annual Review of Psychology
- Publisher
- Annual Reviews
- Published
- 1977-01
- Volume
- 28
- Issue
- 1
- Pages
- 1-39
- ISSN
- 0066-4308 (ISSN-L)
- 1545-2085
- OpenAlex
- W2103379473
- Cited by
- 1,731
- References
- 0
- Citations by year
- 2026: 23 · 2025: 20 · 2024: 27 · 2023: 26 · 2022: 24 · 2021: 30 · 2020: 34 · 2019: 26 · 2018: 29 · 2017: 25 · 2016: 33 · 2015: 26 · 2014: 37 · 2013: 25 · 2012: 26
- FWCI
- 54.63
- Type
- journal article
- Language
- en
- Open access
- closed
- Locations
- Annual Review of Psychology (publishedVersion)
- Defense Technical Information Center (DTIC) (submittedVersion)
- Scholars' Bank (University of Oregon) (submittedVersion)
- Topics
- Social Sciences › Decision Sciences › General Decision Sciences › Decision-Making and Behavioral Economics
- Social Sciences › Safety Research › Experimental Behavioral Economics Studies
- Social Sciences › Decision Sciences › Management Science and Operations Research › Leadership, Behavior, and Decision-Making Studies
- Keywords
- behavioral decision theory, decision-making, normative decision theory, descriptive decision theory, research directions
About these checks
Registry, retraction, Cites and statistics results are computed, not judged, with one exception: a printed reference that no index lists is read once by a model before it counts as a citation error. Claims are extracted by a model and kept only when their quote appears verbatim in the text; each cited source is then checked, with a model’s help, for whether it says what the claim relies on. Those verdicts can be wrong — read the claim’s quote and the cited source before relying on one.
Statistics and arithmetic are recomputed, not judged.
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