Téléchargez le livre : Bounded Rationality in Decision Making Under Uncertainty: Towards Optimal Granularity

Bounded Rationality in Decision Making Under Uncertainty: Towards Optimal Granularity

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Éditeur :

Springer


Collection :

Studies in Systems, Decision and Control

Paru le : 2017-07-01

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Description


This book addresses an intriguing question: are our decisions rational? It explains seemingly irrational human decision-making behavior by taking into account our limited ability to process information. It also shows with several examples that optimization under granularity restriction leads to observed human decision-making. Drawing on the Nobel-prize-winning studies by Kahneman and Tversky, researchers have found many examples of seemingly irrational decisions: e.g., we overestimate the probability of rare events.
Our explanation is that since human abilities to process information are limited, we operate not with the exact values of relevant quantities, but with “granules” that contain these values. We show that optimization under such granularity indeed leads to observed human behavior. In particular, for the first time, we explain the mysterious empirical dependence of betting odds on actual probabilities.
This book can be recommended to all students interested in human decision-making, to researchers whose work involves human decisions, and to practitioners who design and employ systems involving human decision-making —so that they can better utilize our ability to make decisions under uncertainty.
Pages
164 pages
Collection
Studies in Systems, Decision and Control
Parution
2017-07-01
Marque
Springer
EAN papier
9783319622132
EAN PDF
9783319622149
Informations sur l'ebook
Nombre pages copiables
1
Nombre pages imprimables
16
Taille du fichier
1782 Ko
Prix
95,39 €
EAN EPUB
9783319622149
Informations sur l'ebook
Nombre pages copiables
1
Nombre pages imprimables
16
Taille du fichier
2028 Ko
Prix
95,39 €

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