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Open Access Journal Article

Decision Making Under Uncertainty: Behavioral Insights

by Michael Anderson 1,*
1
Michael Anderson
*
Author to whom correspondence should be addressed.
DSSC  2020 2(1):10; https://doi.org/10.69610/j.dssc.20200613
Received: 24 April 2020 / Accepted: 22 May 2020 / Published Online: 13 June 2020
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Abstract

This paper explores the complexities of decision-making under uncertainty, focusing specifically on the role of behavioral insights. The study delves into the psychological and cognitive factors that influence decision-making processes in situations where outcomes are unpredictable. By integrating principles from behavioral economics and psychology, we aim to shed light on how individuals and organizations navigate through uncertainty. The analysis identifies several key behavioral biases and heuristics that frequently arise in decision-making scenarios, such as overconfidence, loss aversion, and anchored thinking. Furthermore, the paper investigates the potential implications of these insights for policy-making, corporate strategy, and individual decision-making. Through empirical evidence and theoretical frameworks, we argue that understanding and leveraging these behavioral insights can contribute to more effective and rational decision-making under uncertainty.

Keywords: Decision Making; - Uncertainty; - Behavioral Insights; - Cognitive Biases; - Decision Heuristics.;
Copyright: © 2020 by Anderson. This is an open-access article distributed under the terms of the Creative Commons Attribution License (CC BY) (Creative Commons Attribution 4.0 International License). The use, distribution or reproduction in other forums is permitted, provided the original author(s) or licensor are credited and that the original publication in this journal is cited, in accordance with accepted academic practice. No use, distribution or reproduction is permitted which does not comply with these terms.
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APA Style
Anderson, M. (2020). Decision Making Under Uncertainty: Behavioral Insights. Decision Sciences and Social Change, 2(1), 10. doi:10.69610/j.dssc.20200613
ACS Style
Anderson, M. Decision Making Under Uncertainty: Behavioral Insights. Decision Sciences and Social Change, 2020, 2, 10. doi:10.69610/j.dssc.20200613
AMA Style
Anderson M. Decision Making Under Uncertainty: Behavioral Insights. Decision Sciences and Social Change; 2020, 2(1):10. doi:10.69610/j.dssc.20200613
Chicago/Turabian Style
Anderson, Michael 2020. "Decision Making Under Uncertainty: Behavioral Insights" Decision Sciences and Social Change 2, no.1:10. doi:10.69610/j.dssc.20200613

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ACS Style
Anderson, M. Decision Making Under Uncertainty: Behavioral Insights. Decision Sciences and Social Change, 2020, 2, 10. doi:10.69610/j.dssc.20200613
AMA Style
Anderson M. Decision Making Under Uncertainty: Behavioral Insights. Decision Sciences and Social Change; 2020, 2(1):10. doi:10.69610/j.dssc.20200613
Chicago/Turabian Style
Anderson, Michael 2020. "Decision Making Under Uncertainty: Behavioral Insights" Decision Sciences and Social Change 2, no.1:10. doi:10.69610/j.dssc.20200613
APA style
Anderson, M. (2020). Decision Making Under Uncertainty: Behavioral Insights. Decision Sciences and Social Change, 2(1), 10. doi:10.69610/j.dssc.20200613

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