Titlebook: Behavioral Decision Theory; Psychological and Ma Kazuhisa Takemura Book 2021Latest edition The Editor(s) (if applicable) and The Author(s),

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Book 2021Latest editionlished..The utility theory is often limited to qualitative knowledge;however, as the studies of Nobel laureates H. A. Simon, D. Kahneman, and R. Thaler have suggested, the psychological methodology and knowledge of behavioral decision theory have been applied widely in such fields as economics, busi

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Causes of Preference Reversal Phenomenonamble . was priced higher than the others in the pricing question (Slovic, .; Slovic and Lichtenstein, .; Tversky and Thaler, .). According to (Tversky et al., .), this preference reversal phenomenon is divisible into three phases. The first is the phase of the discovery of this phenomenon by psycho

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Expected Utility Theory and Psychologycision theory. This chapter first explains the basic idea of the initial expected utility theory and then, and how this theory is related to psychological theories. Subsequently, psychological studies of utility measurement based on expected utility theory will be introduced in the final part.