Osnova sekce

  • Decision bracketing is closely related to hedonic editing or framing. However, hedonic editing and framing deal only with how people evaluate events (valuing them more or less), whereas choice bracketing deals directly with how the decisions themselves are made (which tradeoffs or variables are considered when making the choice). Choice bracketing has implications both for risky and riskless choice. However, discussing risky choice requires some review of rational choice under uncertainty, hence the placement of this chapter in the Information and Uncertainty section of the course. We review rational models of multiple decisions as well as the most widely accepted rational model of decision under risk: expected utility theory. This model is covered in greater detail in Chapter 9, including its axiomatic foundation (i.e., why we consider it rational).