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Human decisions are often far from rational.
Although the normative models of decision are still
valid as research frameworks and performance
standards, research consistently showed that neither
the decision patterns are coherent with the rational
normative model nor the decisions seem consistent
enough for a general theory of decision to be
developed. This thesis is focused on the mental
frames or determinants that produce specific
patterns of decision, discussing three main themes:
(1) risk perception, the psychological dimension of
risk, risk preferences and implications on
decisions; (2) cultural determinants, the influence
of the cultural background in the production of
different decision patterns from equivalent decision
problems, and; (3) cognitive determinants,
fundamental factors which influence on decisions
extends beyond cultural differences. The results
show that risk perception is influenced by the time
length of the foreseeable consequences (stealth
risks were perceived as higher threats than
catastrophic risks), with potential relevance to the
fields of Economics, Management, Marketing and
Behavioural Sciences.
Although the normative models of decision are still
valid as research frameworks and performance
standards, research consistently showed that neither
the decision patterns are coherent with the rational
normative model nor the decisions seem consistent
enough for a general theory of decision to be
developed. This thesis is focused on the mental
frames or determinants that produce specific
patterns of decision, discussing three main themes:
(1) risk perception, the psychological dimension of
risk, risk preferences and implications on
decisions; (2) cultural determinants, the influence
of the cultural background in the production of
different decision patterns from equivalent decision
problems, and; (3) cognitive determinants,
fundamental factors which influence on decisions
extends beyond cultural differences. The results
show that risk perception is influenced by the time
length of the foreseeable consequences (stealth
risks were perceived as higher threats than
catastrophic risks), with potential relevance to the
fields of Economics, Management, Marketing and
Behavioural Sciences.