🎴 Flashcard Mode
Decision Making Theories and Biases
Card1 / 15
Mastered0
Review0
QuestionClick to flip
Which theory suggests that individuals make decisions based on the expected value of each option?
AnswerClick to flip back
A
Expected Utility Theory
💡 Explanation:
Expected Utility Theory assumes that individuals weigh the potential outcomes of each option and choose the one with the highest expected value.