The Psychology of Decision-Making Under Uncertainty

The Psychology of Decision-Making Under Uncertainty: How do individuals make decisions in uncertain and ambiguous situations, and what are the cognitive biases, heuristics, and decision-making shortcuts that influence judgment and choice? Analyze research on decision-making processes, including prospect theory, bounded rationality, and dual-process models, considering factors such as risk perception, loss aversion, and temporal discounting. Discuss implications for decision support systems, behavioral economics interventions, and policy nudges aimed at promoting informed decision-making and risk mitigation.