Decision-Making in Economics: Critical Lessons from Neurobiology

In this chapter, the authors consider some of the issues regarding the rational choice decision framework in neoclassical economics and how it can particularly be found wanting in the absence of due consideration for some of the underlying critical neurobiological factors which govern decision making. They develop a critical decision problem and explore the scenario where the solution predicted by formal economic theory may be in conflict with the decision that actually occurs. Such conflict is especially relevant in the context of economic decision making in emerging markets where there can be a lack of trust in the system by the agents operating within it. Based on logically consistent arguments derived from the extant literature, the authors argue that non-consideration of underlying neurobiological factors is a direct cause of this conflict.

Adaptation to climate change in regional Australia : a decision-making framework for modelling policy for rural production

A decision-making framework was developed and applied in regional Australia to identify adaptation issues arising in agricultural systems and rural production as a consequence of climate change. Australian agriculture is very susceptible to the adverse impacts of climate change, with major shifts in temperature and rainfall projected. An advantage of the framework is that it provides a suite of tools to aid in the formulation of strategies for sustainable regional development and adaptation. The decision-making framework uses a participatory approach that integrates land suitability analysis with uncertainty analysis and spatial optimisation to determine optimal agricultural land use (at a regional scale) for current and possible future climatic conditions. It thus provides a robust analytic approach to (i) recognise regions under threat of productivity declines, (ii) identify alternative cropping systems better adapted to likely future climatic conditions and (iii) investigate policy actions to improve the sub-optimal situations created by climate change. The decision-making framework and its methods were applied in a case study of the South West Region of Victoria.

Medico-legal decision making for incapacitated neonates

This thesis finds there is a need for greater transparency and objectivity in end-of-life decision making for extremely premature and critically ill infants. To achieve this objectivity, the allocation of finite public healthcare resources, and corresponding quality of life, should be a principal consideration in treatment decisions.

Corporate social responsibility in professional team sport organisations : towards a theory of decision-making

Research question: 

Evidence and obesity prevention : developing evidence summaries to support decision making

Public health practitioners make decisions based on research evidence in combination with a variety of other influences. Evidence summaries are one of a range of knowledge translation options used to support evidence-informed decision making. The literature relevant to obesity prevention requires synthesis for it to be accessible and relevant to end-users. As part of a national collaboration on obesity prevention, we used a stakeholder-focused approach combined with transparent review methods to develop evidence summaries covering a selection of topics relevant to policy and practice in the context of childhood obesity prevention.

Young adults and politics: investigating factors influencing voter decision making

Many parallels have been drawn between politics and marketing; however, the application of consumer behavior decision making to voter decision making is still an important research focus. Results from general elections around the world show that the turnout among young adults tends to be lower than in the general electorate, suggesting low interest and involvement in politics. This qualitative study investigated low-involvement decision making of young adult voters in Australia. Data were compiled from semistructured face-to-face interviews conducted with 29 young adults to explore their views, and NVivo software was used to assist with thematic analysis. Findings suggest that with low-involvement voter decision making, perceived knowledge and passive information seeking are important factors. Exposure to the media also plays an important role, and young voters rely more on traditional media such as newspapers and television than on social media for current political information.