
This paper provides a general overview of theories and tools to model individual and collective decision-making. In particular, stress is laid on the interaction of several decision-makers. A substantial part of this paper is devoted to utility maximization and its application to collective decision-making, Game Theory. However, the pitfalls of utility maximization are thoroughly discussed, and the radically alternative approach of viewing decision-making as constructing narratives is presented with its emerging computational tools.
DECISION MAKING, Interactions, Collective Decision-Making, jel: jel:C79, jel: jel:D79
DECISION MAKING, Interactions, Collective Decision-Making, jel: jel:C79, jel: jel:D79
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