Theoretical Theories Of Decision-Making Theory
THEORETICAL FRAMEWORK:
The study was guided by 4 theories: the decision-making theories, the feminist theory, the policy implementation theories and organizational culture theories.
DECISION MAKING THEORY:
“Decision theory (or the theory of choice) is the study of the reasoning underlying an agent 's choices”, Steele 2015. Decisions are responses to situations and they include 3 aspects: First, there may be more than one possible course of action under consideration. Second, decision makers can form expectations concerning future events there are often described as probabilities or degrees of confidence. Finally, consequences associated with possible outcomes can be assessed in terms of reflecting personal values and current goals (Oliveira, 2007).
There are two main decision making theories described.
1. Normative theories of decision making, which are based on rationality
2. On the other hand we have, Descriptive theories of decision making which highlight how psychological elements determine how one makes a decision (Oliveira, 2007).
Rational decision makers employ logic, using a particular set of alternatives to solve problems ( Goodwin & Wright, 1998; Hoch, Kunreuther & Gunther, 2001). According to, Herbert A. Simon (1976), Rationality means- a style of behavior that is appropriate to the achievement of given goals, within the limits imposed by given conditions and constraints” (P. 405). Moshman D (1990), proposes that rationality should be a goal of education.
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