Discuss theories of decision-making

Discuss theories of decision-making, including rational choice theory, prospect theory, and bounded rationality, in explaining how individuals make choices under uncertainty and risk. Analyze cognitive biases, heuristics, and decision-making errors that influence judgment and decision processes, such as confirmation bias, availability heuristic, and framing effects. Examine real-life applications of decision-making research in domains like behavioral economics, consumer behavior, and public policy. Evaluate strategies for improving decision-making skills, such as decision analysis, mindfulness, and decision aids, in enhancing rationality, accountability, and ethical decision-making in personal and professional contexts.