This paper discusses several concepts that can be used to provide a foundation for a unified, theory of rational, economic behavior. First, decision-making is defined to be a process that takes place with reference to both ‘subjective’ and ‘objective’ time, that distinguishes between plans and actions, between information and states and that explicitly incorporates the collection and processing of information. This conception of decision making is then related to several important aspects of ‘behavioral economics’, the dependence of values on experience, the use of behavioral rules, the occurrence of multiple goals and environmental feedback.