发表状态 | 已发表Published |
题名 | Behavioral Decision Making in Normative and Descriptive Views: A Critical Review of Literature |
作者 | |
发表日期 | 2021-10 |
发表期刊 | Journal of Risk and Financial Management
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ISSN/eISSN | 1911-8074, 1911-8066 |
卷号 | 14期号:10页码:490-503 |
摘要 | Recent studies on decision analytics frequently refer to the topic of behavioral decision making (BDM), which focuses on behavioral components of decision analytics. This paper provides a critical review of literature for re-examining the relations between BDM and classical decision theories in both normative and descriptive reviews. We attempt to capture several milestones in theoretical models, elaborate on how the normative and descriptive theories blend into each other, thus motivating the mostly prescriptive models in decision analytics and eventually promoting the theoretical progress of BDM—an emerging and interdisciplinary field. We pay particular attention to the decision under uncertainty, including ambiguity aversion and models. Finally, we discuss the research directions for future studies by underpinning the theoretical linkages of BDM with fast-evolving research areas, including loss aversion, reference dependence, inequality aversion, and models of quasi-maximization mistakes. This paper helps to understand various behavioral biases and psychological factors when making decisions, for example, investment decisions. We expect that the results of this research can inspire studies on BDM and provide proposals for mechanisms for the development of D-TEA (decision—theory, experiments, and applications). |
DOI | 10.3390/jrfm14100490 |
URL | 查看来源 |
收录类别 | ESCI |
语种 | 英语English |
WOS研究方向 | Business & Economics |
WOS类目 | Business, Finance |
WOS记录号 | WOS:000747268400001 |
引用统计 | |
文献类型 | 期刊论文 |
条目标识符 | https://repository.uic.edu.cn/handle/39GCC9TT/7339 |
专题 | 工商管理学院 |
通讯作者 | Chai, Junyi |
作者单位 | 1.Division of Business and Management, BNU-HKBU United International College, Zhuhai 519087, China 2.Centre of Evaluation Studies, Beijing Normal University, Zhuhai 519087, China |
第一作者单位 | 北师香港浸会大学 |
通讯作者单位 | 北师香港浸会大学 |
推荐引用方式 GB/T 7714 | Chai, Junyi,Weng, Zhiquan,Liu, Wenbin. Behavioral Decision Making in Normative and Descriptive Views: A Critical Review of Literature[J]. Journal of Risk and Financial Management, 2021, 14(10): 490-503. |
APA | Chai, Junyi, Weng, Zhiquan, & Liu, Wenbin. (2021). Behavioral Decision Making in Normative and Descriptive Views: A Critical Review of Literature. Journal of Risk and Financial Management, 14(10), 490-503. |
MLA | Chai, Junyi,et al."Behavioral Decision Making in Normative and Descriptive Views: A Critical Review of Literature". Journal of Risk and Financial Management 14.10(2021): 490-503. |
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