People behave based on the value that they perceive doing the behavior has to them. It takes into account expectancy (effort), instrumentality (performance) and valence (value/reward).

Expectancy-Valence Theories

Assumes people are rational and posits that when people have all of the available information they will act to maximize expected utility.

University of Michigan - Ann Arbor

- Heuristics and biases
- Desirable difficulty
- Decision time
- Reasoning
- Expected emotions

Focuses of Research on  Decision-Making

Goldstein, E. B. (2014). Cognitive psychology: Connecting mind, research and everyday experience. Nelson Education.


Cognitive psychology: Connecting mind, research and everyday experience

How long it takes someone to make a decision

Decision time

A learning task that requires a considerable but desirable amount of effort, thereby improving long-term performance.

Examples:

- Interleaving Materials
- Spacing Studying
- Generation Effect
- Retrieval practice (testing)
- Varying Study Conditions

Desirable Difficulties

Expected utility theory

The predictions of what emotions people think they will feel after making some decision. This affects the decision people make.

Expected emotions

Logical reasoning is the process of using a rational, systematic series of steps based on sound certain mathematical procedures and statements to arrive at a conclusion. 

There are three types of the reasoning:
- Abductive Reasoning 
- Deductive Reasoning 
- Inductive Reasoning

Reasoning

Heuristics are mental shortcuts that people rely on to simplify the complex task of forming and maintaining beliefs. Because forming detailed and accurate beliefs requires extensive observation, memory, and analysis, individuals use these efficient cognitive strategies. However, relying on heuristics can sometimes lead to incorrect conclusions.

Learn Before

Related

Learn After