Abstract
The process of making a financial decision assumes that each of the actions being planned or discussed involves two aspects: Profit maximization and cost reduction. Therefore, it is assumed that such decisions are entirely rational. Here the main question arises: People make rational decisions, not being influenced by behavioral factors that affect the quality of the decision and its outcome. Therefore, we seek to determine whether financial decisions are rational and therefore respond to a hierarchy of preference in the use of financial resources (Pecking Order Theory), or whether there are behavioral factors that really affect this classic financial decision. The research allows reviewing the existing theoretical framework regarding behavioral heuristics and financial decisions, starting from the seminal theories to the latest theories dealing with both variables.
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