Explore consumer theory, its impact on spending decisions, and how it shapes GDP, corporate strategies, and economic policies ...

In a previous post, we considered three of seven "irrational" habits of highly rational people. Here we consider the remaining four, as well as some suggestions for distinguishing the genuinely ...

For example, if for every highly negative outcome with a probability of 10 percent and which a rational decision-maker would avoid, then they will be avoiding negative outcomes that simply don’t ...

New research on chimpanzees is forcing scientists to rethink where the line between human and animal minds really lies. In carefully designed experiments, chimps are not just grabbing at treats or ...

The past few years have seen an explosion of progress in large language model artificial intelligence systems that can do things like write poetry, conduct humanlike conversations and pass medical ...

There are two main approaches to decision making in business. The rational approach based on logic and analysis is favored by many business schools. In practice, most decisions are made using an ...

Many organizations implementing AI agents tend to focus too narrowly on a single decision-making model, falling into the trap of assuming a one-size-fits-all decision-making framework, one that ...