Cognitive science contributions to decision science

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• Is cognitive science having an impact on decision science, and if so, when did this happen, and what is this impact?
• This article looks back into the history of decision research to see exactly where cognitive science really enters the picture in an important and unique way.
• The answers are yes, and recently, and it is the ability to describe the dynamical nature of the decision-making process.

This article briefly reviews the history and interplay between decision theory, behavioral decision-making research, and cognitive psychology. The review reveals the increasingly important impact that psychology and cognitive science have on decision science. One of the main contributions of cognitive science to decision science is the development of dynamic models that describe the cognitive processes that underlay the evolution of preferences during deliberation phase of making a decision.