The spherical fuzzy set (SFS) model is one of the newly developed extensions of fuzzy sets (FS) for the purpose of dealing with uncertainty or vagueness in decision making. The aim of this paper is to define new exponential and Einstein exponential operational laws for spherical fuzzy sets and their corresponding aggregation operators. We introduce the operational laws for exponential and Einstein exponential SFSs in which the base values are crisp numbers and the exponents (weights) are spherical fuzzy numbers. Some of the properties and characteristics of the proposed operations are then discussed. Based on these operational laws, some new aggregation operators for the SFS model, namely Spherical Fuzzy Weighted Exponential Averaging (SFWEA) and Spherical Fuzzy Einstein Weighted Exponential Averaging (SFEWEA) operators are introduced. Finally, a decision-making algorithm based on these newly introduced aggregation operators is proposed and applied to a multi-criteria decision making (MCDM) problem related to ranking different types of psychotherapy.