Question

what are the merits of normative theory​

Answer 1

Answer:

Normative theories of decision making have provided prescriptions of how people should make decisions. The theories provide prescriptive functions or decision rules to help people maximize expected utility of outcomes. The normative rules serve as the rational standards to which people's actual behaviors are compared. The assumption underlying some of these models has been that an optimal decision could be arrived at in a very rational, mathematical sort of way (e.g., Byrnes, 1998; Gigerenzer & Selten, 2001).

Explanation:

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