Summary and Info
When people make judgments and choices, especially when faced with uncertainty, they behave in a manner that seems complex and irrational. Cognitive psychologists have identified and organized these patterns of behavior into a descriptively accurate model of human judgments and choices called behavioral decision theory. Incorporating this theory's insights in public policy analysis will enhance our ability to design better policies and enable us to understand the limits of effective regulation.
More About the Author
Prof M V Rajeev Gowda is an Indian politician and academician. He is a member of parliament in the Rajya Sabha since July 2014 and a national spokesperson for the Indian National Congress.
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