Rationality in decision-making: the effect of economic scenarios on voters’ decisions / A racionalidade na tomada de decisão: o efeito de cenários econômicos na decisão de eleitores

Ingrid Rafaele Rodrigues Leiria, Tiago Wickstrom Alves


The agents’ decisions related to investment, consumption, and other issues are influenced by economics conditions. Similarly, in a majority election, voters could decide based on the economic scenario. Considering this possibility, two hypotheses were formulated to explain reasons for the decision of the voters. The first situation relates to the possibility that the voters choose the option that reduces the possibility of loss. This formulation is based on the tendency of loss aversion built by Kahneman and Tversky (1979). The second is reducing the decision-making time; this hypothesis is based on the so-called shortcuts formulated by Kahneman, Slovic, and Tversky (1982). These hypotheses were built with the theoretical basis of the Theory of Rational Decisions and Behavioral Economics. The experiment had the participation of 21 classes and 446 undergraduate students of Economics, Management, and Accounting, involving exposure to an economic scenario and two candidates. The voters should choose the best choice available.


decision-making, behavioral economics, voting, rationality.

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