Rational Behavior What is 'Rational Behavior' A rational behavior decision-making process is based on making choices that result in the most optimal level of benefit or utility for the ind

DefinitionSatisficing is a decision-making strategy or cognitive heuristic that entails searching through the available alternatives until an acceptability threshold is met. The term satisfi

DefinitionDaniel Kahneman is an Israeli-American psychologist notable for his work on the psychology of judgment and decision-making, as well as behavioral economics, for which he was awarde