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Micro foundations of Decision-making

Author

Listed:
  • Mathews, Jose
  • Tirwa, Indra Prasad

Abstract

Decision-making is primarily a mental activity of the decision-maker even when the decision-maker is confronted with the decision environment of data and context. This aspect of the psychological process is delineated into the intra- individual sub-systems of cognition, affect, motivation and personality traits. The sub-systems influence the decision-making process in interactive and integrative ways thereby the choice of the decision-maker become an outcome of cognition, affect and personality traits wherein it becomes interacting and intervening variables of significance. The mechanisms of cognition in the form of information- processing and knowledge structures, affect in the ways of the emotional processes of the decision-maker, motivation in the form of the pursuit of goals and personality traits in its constellation.

Suggested Citation

  • Mathews, Jose & Tirwa, Indra Prasad, 2023. "Micro foundations of Decision-making," Bhutan Journal of Business and Management, Gedu College of Business Studies, Royal University of Bhutan.
    • Handle: RePEc:eoq:bjbmjr:art39
    DOI: 10.17102/bjbm.v6.4
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    File URL: https://bjbm.gcbs.edu.bt/index.php/bjbm/article/view/39
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    References listed on IDEAS

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