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El proceso de toma de decisiones: un modelo de economía conductual
[The Decision Making Process: A Behavioral Economics Model]


  • Acevedo Rueda, Rafael Alexis


This paper is a contribution to the study of behavioral economics. It proposes a model of decision making process and includes the affective and cognitive systems, both them included when anyone evaluates the options to select one. First of all, a literature review was done. Secondly, an analysis of the economic theories related to the decision making process is presented. Thirdly, the model to explain the decision making is proposed. Finally, the paper shows the conclusions and reflections about the studies and advances in the field of the decision making process analysis thinking over a phrase: “long way to go”.

Suggested Citation

  • Acevedo Rueda, Rafael Alexis, 2013. "El proceso de toma de decisiones: un modelo de economía conductual
    [The Decision Making Process: A Behavioral Economics Model]
    ," MPRA Paper 50890, University Library of Munich, Germany, revised 15 Sep 2013.
  • Handle: RePEc:pra:mprapa:50890

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    References listed on IDEAS

    1. J B Heaton, 2002. "Managerial Optimism and Corporate Finance," Financial Management, Financial Management Association, vol. 31(2), Summer.
    2. Francisco Augusto Laca Arocena, 2012. "Racionalidad limitada en la sociedad del riesgo mundial," Revista de Economía Institucional, Universidad Externado de Colombia - Facultad de Economía, vol. 14(26), pages 121-135, January-J.
    3. Amos Tversky & Daniel Kahneman, 1991. "Loss Aversion in Riskless Choice: A Reference-Dependent Model," The Quarterly Journal of Economics, Oxford University Press, vol. 106(4), pages 1039-1061.
    4. Loomes, Graham & Sugden, Robert, 1982. "Regret Theory: An Alternative Theory of Rational Choice under Uncertainty," Economic Journal, Royal Economic Society, vol. 92(368), pages 805-824, December.
    5. Acevedo Rueda, Rafael Alexis, 2008. "Implicaciones filosóficas de la eficiencia gerencial
      [Philosophical implications of the managerial efficiency]
      ," MPRA Paper 58688, University Library of Munich, Germany, revised 15 Mar 2009.
    6. Matthew Rabin, 1998. "Psychology and Economics," Journal of Economic Literature, American Economic Association, vol. 36(1), pages 11-46, March.
    7. Chris Starmer, 2000. "Developments in Non-expected Utility Theory: The Hunt for a Descriptive Theory of Choice under Risk," Journal of Economic Literature, American Economic Association, vol. 38(2), pages 332-382, June.
    8. D. Haughton & Chr. Biernacki & A. Lendasse & E. Masson & E. Severin, 2011. "Editorial," Post-Print hal-00801860, HAL.
    9. POPESCU, Ion & Bondrea, Aurelian & Constantinescu, Madalina, 2009. "Neuroeconomics - Actual Directions In Behavioral Economics," Papers 2009/28, Osterreichish-Rumanischer Akademischer Verein.
    10. Tilman Slembeck, 2000. "Learning in Economics: Where Do We Stand?," Microeconomics 0004007, EconWPA.
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    More about this item


    Decision Making – Behavioral Economics – Affective System – Cognitive System;

    JEL classification:

    • C00 - Mathematical and Quantitative Methods - - General - - - General
    • C44 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Operations Research; Statistical Decision Theory
    • D03 - Microeconomics - - General - - - Behavioral Microeconomics: Underlying Principles

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