Visual Studio .NET. Definition - What does Visual Studio .NET mean? Visual Studio .NET is a Microsoft-integrated development environment (IDE) that can be used for developing consoles, graphical user interfaces (GUIs), Windows Forms, Web services and Web applications.
Decision theory can be broken into two branches: normative decision theory, which gives advice on how to make the best decisions, given a set of uncertain beliefs and a set of values; and descriptive decision theory, which analyzes how existing, possibly irrational agents actually make decisions.
This theory was proposed by Herbert A. Simon as a more holistic way of understanding decision-making. Bounded rationality shares the view that decision-making is a fully rational process; however, it adds the condition that people act on the basis of limited information.