Decision Making, Executive Functions and Emotion: A review of theoretical models

Abstract

The purpose of this review is to offer an outline of decision-making models based on concepts from cognitive psychology, economic psychology, and neuropsychology, specifically in the area of executive functions and emotions. First, a general idea of the concept and dimensions of executive functions was presented, followed by a definition of decision-making. Based on these concepts, a review of the first decision-making models was carried out, such as the Rational Choice Theory, the Subjectivity Theory of Expected Utility and the Multi-Attribute Utility Theory. Then, the Prospect model was presented, to finally discuss the Somatic Marker Theory. This allowed us to conclude the role of emotions and reasoning in the decision-making process from the standpoint of the different models.