from Part III - Applications, Examples, and Selected Topics
Published online by Cambridge University Press: 23 October 2025
Although people have been making decisions for many thousands of years, it was only since John von Neumann and Oskar Morgenstern wrote Theory of Games and Economic Behavior and Herb Simon wrote of satisficing and bounded rationality, that researchers started to analyze and understand how people make decisions. The mid- and late twentieth century saw an expansion in what is known about the making of decisions, but more recently new areas within decision theory have come under scientific study. This final chapter is forward-looking and considers possible future directions for understanding human decision making and also for the development of decision theory. Among these future directions are emotion, culture, artificial intelligence, and intuition itself.
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