ABSTRACT
This chapter summarizes the key terms and concepts in order to clarify what is meant by a good decision, and to make sense of the link between risk attitude and decision-making. It explores the notion of a good decision and concluded that performance can be improved by focusing on decision-making processes, making them as robust and understood as possible. Doing this inevitably means addressing explicitly the drivers behind the attitudes to the risks inherent in any particular decision. In summarizing the vast amount of research into the subject of decision-making under uncertainty, there are two other areas that must be mentioned: the influence of personality traits on decision-making and the role of experience. Recognizing this, overall decision quality can be considered in the context of the personality traits of decision-makers. This is also the place where risk attitudes can be examined consciously, to become aware of their role in the decision-making process, with the objective of making better quality decisions.
