Humans are economic beings whose objective is to maximize the attainment of goals ; that is, the decision –marker is rational. (More of a good thing [revenue, fun] is better then less; less of a bad thing [cost, pain] is better than more.)
For a decision-marking situation, all viable alternative courses of action and their consequences, or at least the probability and the values of the consequences, are known.
Decision markers have an order or preference that enables them to rank the desirability of all consequences of the analysis (best to worst).
Though there may be major anomalies in the presumed rationality of financial and economic behavior, we take goals being framed inadequately, misunderstanding of a decision maker’s true expected utility, and time-pressure impacts.