ABSTRACT

The models of choice that we have developed are meant to serve both as normative guides for decision making and as descriptive models of how individuals choose. Whether they are really suitable normatively is a matter for the individual decision maker to decide; knowing some of the limitations in theory (from Chapter 12), you are in a relatively good position to decide whether, in a particular situation, you want your choice behavior to conform to one of these models. In this final chapter, I want to touch briefly on evidence concerning the use of these models for descriptive purposes.