decision-making ↔ uncertainty

Relations (1)

related 2.00 — strongly supporting 3 facts

Uncertainty is a fundamental condition that shapes the processes and theories of decision-making, as evidenced by its role in decision theory [1], behavioral finance models like prospect theory [2], and strategic management research [3].

Facts (3)

Sources

The Impact of Cognitive Biases on Professionals' Decision-Making frontiersin.org Frontiers in Psychology 2 facts

referenceHodgkinson et al. (1999) analyzed strategic cognition and decision-making under conditions of uncertainty, focusing on how managers break existing frames.

claimBehavioral finance utilizes prospect theory, developed by Kahneman and Tversky in 1979, as a more realistic view of decision-making under uncertainty than expected utility theory.

Epistemology - Wikipedia en.wikipedia.org Wikipedia 1 fact

claimDecision theorists distinguish between weaker and stronger beliefs to analyze the effects of uncertainty on decision-making.