Definition
Being the opposite of intuitive decision making, rational model of decision making is a model where individuals use facts and information, analysis, and a step-by-step procedure to come to a decision. The rational model of decision making is a more advanced type of decision-making model.
Introduction
Decision making is what hominids do everyday. From the moment humans open their eyes in the morning, they start making decisions about whether to snooze the alarm or just go ahead and get up. All through the day, decisions are made continuously until the decision is made to close their eyes again. Decision making therefore is what makes the human element alive and functional while deciding the world around them and ultimately individual personal fates. Decision making almost always involves choices. In a world full of choices, the individual personality is constantly...
References
Blume LE, Easly D (2008) The New Palgrave Dictionary of Economics, Second Edition. Palgrave, Macmillan. Retrieved from http://www.dictionaryofeconomics.com/article
Decision Making (n.d.) Retrieved from www.businessdictionary.com
Eppinger B, Nystrom LE, Cohen JD (2012) Reduced sensitivity to immediate reward during decision-making in older than younger adults. PubMed, 7(5). In Samanez-Larkin GR (2013) Financial decision-making and the aging brain. Assoc J Psychol Sci Observer, 26(5), 30–33
Kholi A (1989) Determinants of influence in organizational buying: a contingency approach. J Mark 7(1):50–65
Löckenhoff CE (2011) Age, time, and decision making: from processing speed to global time horizons. Annual New York Academy of Science, 1235:44–56. In Samanez-Larkin GR (2013) Financial decision-making and the aging brain. Assoc Psychol Sci Observer 26(5):30–33
Oliveira A (2007) A discussion of rational and psychological decision making theories and models: the search for a cultural ethical decision making model. Electron J Bus Electron J Bus Ethics Org Stud 12(2):12–17
Rotter JB (1966) Generalized expectancies for internal versus external control of reinforcements. Psychol Monogr 80(1):1–28, Whole No. 609
Russ FA, McNeilly KM, Comer JM (1996) Leadership, decision-making and performance of sales managers: a multi-level approach. J Pers Sell Sales Manag XVI(3):1–15
Samanez-Larkin GR, Mata R, Radu PT, Ballard IC, Carstensen LL, McClure SM (2011) Age differences in striatal delay sensitivity during inter-temporal choice in healthy adults. Front Neurosci 5:126
Sen A (2008) The discipline of economics. Economic, 75(300):617–628
Scott J (2000) Understanding contemporary society: theories of the present. Sage Publications, London
Scott SG, Bruce RA (1995) Decision making style: the development and assessment of a new measure. Educ Psychol Manag 55:818–831
Uzonwanne FC (2016) Influence of age and gender on decision-making models and leadership styles of nonprofit executives in Texas, USA. Int J Organ Analysis 24(2):186–203. Emerald Insight
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2016 Springer International Publishing AG
About this entry
Cite this entry
Uzonwanne, F.C. (2016). Rational Model of Decision Making. In: Farazmand, A. (eds) Global Encyclopedia of Public Administration, Public Policy, and Governance. Springer, Cham. https://doi.org/10.1007/978-3-319-31816-5_2474-1
Download citation
DOI: https://doi.org/10.1007/978-3-319-31816-5_2474-1
Received:
Accepted:
Published:
Publisher Name: Springer, Cham
Online ISBN: 978-3-319-31816-5
eBook Packages: Springer Reference Economics and FinanceReference Module Humanities and Social SciencesReference Module Business, Economics and Social Sciences