ABSTRACT
Common sense tells us that when we make a decision we first think about the alternative actions open to us and try to choose the one most likely to lead to a pleasing outcome. This essentially rational model of decision making is formalised within behavioural decision theory as the normative model of choice. People, according to this theory, are supposed to consider the possible outcomes of each decision, attach a probability and utility to each and to choose the action with the highest expected utility. This theory is often known as SEU (the notion that people maximise subjective expected utility). The basic concept is that people explore through thought experiments or mental simulations the consequences of alternative actions before choosing.
