Question: Thank you, LaSandra. Behavioral bias or choice cannot be devoid of the subjective feelings of decision-makers. In other words, some parts of behavioral bias may
Thank you, LaSandra.
Behavioral bias or choice cannot be devoid of the subjective feelings of decision-makers. In other words, some parts of behavioral bias may be reflective of the utility or satisfaction that a specific decision would bring to the decision maker. We also know that a decision is universally rational only to the extent that all decision-makers follow similar decision criteria. Rationality often assumes maximization of benefit. Do you think maximizing benefits would always make decisions robust? In light of the fact that there are overlapping elements between rational and behavioral attributes of a decision, can we declare that a decision is purely rational or purely behavioral bias? Please discuss your answers.
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