I've noticed that Windows 8 sets smaller page files by default. Windows 7 systems seem to create a page file the size of the RAM (eg 4GB of RAM means that Windows makes a 4GB page file). In Windows 8 (and 10), the page file is a fraction of the RAM size- a PC with 2GB of RAM and a PC with 4GB of RAM both have a 704mb page file by default.
What is the reasoning behind this? How does Windows decide, and why is it smaller than in older versions of Windows? I haven't found much about this online at all.