The purpose of decision-making research is to understand an individual’s ability to process multiple alternatives and choose the optimal option. In the field of behavioral finance predominate studies that include psychological models to offer explanations for describing an individual's decision-making. These include limitations in cognitive control and emotional regulation, which can play a key role in making a decision. Cognitive control is the ability of the mind that allows individuals to act in accordance with a goal and reject behavior that is inappropriate. Emotional regulation, on the other hand, refers primarily to attempts by an individual to manage the generation, experience, or expression of emotion, and/or one’s emotional responses is a goal-directed process designed to influence generation, experience, or express mood, i.e., before generating emotions, or on emotional response after an emotion is generated. In addition, people can judge or justify their decisions based on the way the information is given, without paying due attention to their content. Decisions resulting from such biases can have detrimental consequences for an individual’s life or business. These three influences on decision-making were investigated in the diploma thesis with the help of previous theories and experiment.
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