Decision Theory Case Study

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1.0 INTRODUCTION

Decision theory is assumption about decisions. It is regarding with the problem or process of making decisions. It is to determine how decisions are made given unknown variables and an uncertain decision environment framework. Decision theory is phycology, data, logic, theory, and mathematics to analyse the decision making process. Decision theory is applied to a wide variety of areas.

There are many different ways to theorize about decisions so there are several of research traditions. Mostly all action or activity that human beings do involves decisions. People do not decide continuously. Therefore, to theorize about decisions is almost the same as to theorize about human actions. However, decision theory is not all can …show more content…

The advance in the usage of internet and online shopping among the college students has created new opportunities for online retailers. The objective of the research was to analyse the factors influencing the online buying behaviour of the college students. The factors influencing for online shopping identified in this article are availability, best price, best promotions, comparison, convenience, customer service, ease of use, enjoyment, time consciousness, trust, variety and visual …show more content…

The finding has showed that psychological is very relevant to know the attitudes, beliefs and perceptions of consumer to influence their decision making process. Besides, social identity is found to be very relevant in consumer decision making process because consumer decision making is affected by the need to show the social status to other people. Then, perceived risk found to be particularly relevant to online purchase decision since trust is an important factor influencing decision making of students. Previous experiences and knowledge is very relevant to make the consumer knowledgeable in order to influence their evaluation of the products and select the final product with ease from a particular web

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