Behavioral Decision Theory

This report provides a critical overview to work, its applicability and directions for further research. As might be expected with a burgeoning, multi-disciplinary field, it is difficult to keep track of all that is done and to draw the implications of research done in one discipline for research done in another. This report surveys the entire field asking, (1) what is known. (2) what good is it. and (3) what else must we learn. Particular attention is given to work integrating research describing how people do make decisions with normative work that prescribes how people should make decisions.