Cognitive Processes in Choice and Decision Behavior

Recent years have been important changes in research in behavioral decision theory in terms of a shift from a reliance on economic and statistical models to an emphasis on concepts drawn from cognitive psychology. This report constitutes the proceedings of a conference held June 22-24, 1978, for the purpose of exploring the reasons why the changes have come about and discussing the future directions to which they point. The report contains a preface, 14 original chapters, and a reprint, each authored by various people as indicated separately for each contribution, three broad themes are woven throughout the various discussions of how cognitive limitations and processes affect choice and decision behavior. Some chapters focus on fruitful ways to enlarge the range of decision paradigms studied, others provide examples of richer psychological theories for understanding decision behavior, and a few chapters explore mathematical models in a manner to reflect cognitive rather than economic considerations.