This comprehensive review delves into the intricate landscape of human decision-making, unveiling the often-hidden aspects of irrationality that influence choices and outcomes. Drawing from psychology, economics, and behavioral science, this study explores cognitive biases, heuristics, and emotional factors that frequently lead individuals and organizations astray. By shedding light on these decision-making hazards, the review aims to enhance our understanding of irrationality and offers strategies to mitigate its effects. Ultimately, it seeks to empower individuals and entities with the knowledge needed to make more informed and rational decisions across various domains.

Decision-making, Irrationality, Cognitive biases

Kahneman, D. (2011). Thinking, fast and slow. Farrar, Straus and Giroux.

Tversky, A., & Kahneman, D. (1974). Judgment under uncertainty: Heuristics and biases. Science, 185(4157), 1124-1131.

Thaler, R. H., & Sunstein, C. R. (2008). Nudge: Improving decisions about health, wealth, and happiness. Yale University Press.

Ariely, D. (2008). Predictably irrational: The hidden forces that shape our decisions. HarperCollins.

Loewenstein, G., & Lerner, J. S. (2003). The role of affect in decision making. Handbook of affective sciences, 619-642.

Camerer, C. F., Loewenstein, G., & Rabin, M. (Eds.). (2011). Advances in behavioral economics. Princeton University Press.

Thaler, R. H. (1980). Toward a positive theory of consumer choice. Journal of Economic Behavior & Organization, 1(1), 39-60.

Hsee, C. K., & Hastie, R. (2006). Decision and experience: Why don't we choose what makes us happy? Trends in Cognitive Sciences, 10(1), 31-37.