Decision Economics Minds Machines And Their Society

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Decision Economics Minds Machines And Their Society

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Author : Edgardo Bucciarelli
language : en
Publisher: Springer Nature
Release Date : 2021-08-16

Decision Economics Minds Machines And Their Society written by Edgardo Bucciarelli and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-08-16 with Technology & Engineering categories.

This book is the result of a multi-year research project led and sponsored by the University of Chieti-Pescara, National Chengchi University, University of Salamanca, and Osaka University. It is the fifth volume to emerge from that international project, held under the aegis of the United Nations Academic Impact in 2020. All the essays in this volume were (virtually) discussed at the University of L’Aquila―as the venue of the 2nd International Conference on Decision Economics, a three-day global gathering of approximately one hundred scholars and practitioners—and were subjected to thorough peer review by leading experts in the field. The essays reflect the extent, diversity, and richness of several research areas, both normative and descriptive, and are an invaluable resource for graduate-level and PhD students, academics, researchers, policymakers and other professionals, especially in the social and cognitive sciences. Given its interdisciplinary scope, the book subsequently delivers new approaches on how to contribute to the future of economics, providing alternative explanations for various socio-economic issues such as computable humanities; cognitive, behavioural, and experimental perspectives in economics; data analysis and machine learning as well as research areas at the intersection of computer science, artificial intelligence, mathematics, and statistics; agent-based modelling and the related. The editors are grateful to the scientific committee for its continuous support throughout the research project as well as to the many participants for their insightful comments and always probing questions. In any case, the collaboration involved in the project extends far beyond the group of authors published in this volume and is reflected in the quality of the essays published over the years.

Mind Machine

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Author : Marc Vollenweider
language : en
Publisher: John Wiley & Sons
Release Date : 2016-11-07

Mind Machine written by Marc Vollenweider and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-11-07 with Business & Economics categories.

Cut through information overload to make better decisions faster Success relies on making the correct decisions at the appropriate time, which is only possible if the decision maker has the necessary insights in a suitable format. Mind+Machine is the guide to getting the right insights in the right format at the right time to the right person. Designed to show decision makers how to get the most out of every level of data analytics, this book explores the extraordinary potential to be found in a model where human ingenuity and skill are supported with cutting-edge tools, including automations. The marriage of the perceptive power of the human brain with the benefits of automation is essential because mind or machine alone cannot handle the complexities of modern analytics. Only when the two come together with structure and purpose to solve a problem are goals achieved. With various stakeholders in data analytics having their own take on what is important, it can be challenging for a business leader to create such a structure. This book provides a blueprint for decision makers, helping them ask the right questions, understand the answers, and ensure an approach to analytics that properly supports organizational growth. Discover how to: Harness the power of insightful minds and the speed of analytics technology Understand the demands and claims of various analytics stakeholders Focus on the right data and automate the right processes · Navigate decisions with confidence in a fast-paced world The Mind+Machine model streamlines analytics workflows and refines the never-ending flood of incoming data into useful insights. Thus, Mind+Machine equips you to take on the big decisions and win.

Decision Economics Designs Models And Techniques For Boundedly Rational Decisions

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Author : Edgardo Bucciarelli
language : en
Publisher: Springer
Release Date : 2018-12-28

Decision Economics Designs Models And Techniques For Boundedly Rational Decisions written by Edgardo Bucciarelli and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-12-28 with Technology & Engineering categories.

The special session on Decision Economics (DECON) is a scientific forum held annually, which is focused on sharing ideas, projects, research results, models, and experiences associated with the complexity of behavioural decision processes and socio‐economic phenomena. In 2018, DECON was held at Campus Tecnológico de la Fábrica de Armas, University of Castilla-La Mancha, Toledo, Spain, as part of the 15th International Conference on Distributed Computing and Artificial Intelligence. For the third consecutive year, this book have drawn inspiration from Herbert A. Simon’s interdisciplinary legacy and, in particular, is devoted to designs, models, and techniques for boundedly rational decisions, involving several fields of study and expertise. It is worth noting that the recognition of relevant decision‐making takes place in a range of critical subject areas and research fields, including economics, finance, information systems, small and international business management, operations, and production. Therefore, decision‐making issues are of fundamental importance in all branches of economics addressed with different methodological approaches. As a matter of fact, the study of decision‐making has become the focus of intense research efforts, both theoretical and applied, forming a veritable bridge between theory and practice as well as science and business organisations, whose pillars are based on insightful cutting‐edge experimental, behavioural, and computational approaches on the one hand, and celebrating the value of science as well as the close relationship between economics and complexity on the other. In this respect, the international scientific community acknowledges Herbert A. Simon’s research endeavours to understand the processes involved in economic decision‐making and their implications for the advancement of economic professions. Within the field of decision‐making, indeed, Simon has become a mainstay of bounded rationality and satisficing. His rejection of the standard (unrealistic) decision‐making models adopted by neoclassical economists inspired social scientists worldwide with the purpose to develop research programmes aimed at studying decision‐making empirically, experimentally, and computationally. The main achievements concern decision‐making for individuals, firms, markets, governments, institutions, and, last but not least, science and research. This book of selected papers tackles these issues that Simon broached in a professional career spanning more than sixty years. The Editors of this book dedicated it to Herb.

Two Minds

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Author : Roger Frantz
language : en
Publisher: Springer Science & Business Media
Release Date : 2006-07-02

Two Minds written by Roger Frantz and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-07-02 with Business & Economics categories.

As everyone knows, intuition is warm and fuzzy, qualitative, not measurable. Economics, on the other hand, is quantitative, and if it is not a hard science, at least it is the "queen of the social sciences." It is, therefore, intuitively obvious, that intuition and economics are as if oil and water. The problem is, what is intuitively obvious is not always correct. And, there are two major reasons why intuition and economics are not like oil and water. First, economics concerns itself with decision making, and decisions are made in the brain. The human brain is the size of a grapefruit, weighing three pounds with approximately 180 billion neurons, each physically independent but interacting with the other neurons. What we call intuition is, like decision making, a natural information processing function of the brain. Second, despite the current emphasis on quantitative analysis and deductive logic there is a rich history of economists speaking about intuition. First, the human brain, specifically the neocortex, has a left and right hemisphere. The specialized analytical style of the left hemisphere and the specialized intuitive style of the right hemispheres complement each other.

Smart Economic Decision Making In A Complex World

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Author : Morris Altman
language : en
Publisher: Academic Press
Release Date : 2020-06-09

Smart Economic Decision Making In A Complex World written by Morris Altman and has been published by Academic Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-06-09 with Business & Economics categories.

Smart Economic Decision-Making in a Complex World is a fresh and reality-based perspective on decision-making with significant implications for analysis, self-understanding and policy. The book examines the conditions under which smart people generate outcomes that improve their place of work, their household and society. Within this work, the curious reader will find interesting open questions on many fascinating areas of current economic debate, including, the role of realistic assumptions robust model building, understanding how and when non-neoclassical behavior is best practice, why the assumption of smart decision-makers is best to understand and explain our economies and societies, and under what conditions individuals can make the best possible choices for themselves and society at large. Additional sections cover when and how efficiency is achieved, why inefficiencies can persist, when and how consumer welfare is maximized, and what benchmarks should be used to determine efficiency and rationality. Makes the case for 'smart and rational' decision-making as a context-dependent rational process that is framed by socio-cultural environment and conditioned by institutional capacities Explains how incorporation of the 'smart' decision-maker concept into economic thought improves our understanding of how, why and when people generate certain outcomes Explores how economic efficiency can be achieved, individual preferences realized, and social welfare maximized through the use of 'smart and rational' approaches

Minds Models And Milieux

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Author : Roger Frantz
language : en
Publisher: Springer
Release Date : 2016-04-08

Minds Models And Milieux written by Roger Frantz and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-04-08 with Business & Economics categories.

This book is a collection of specially-commissioned chapters from philosophers, economists, political and behavioral economists, cognitive and organizational psychologists, computer scientists, sociologists and permutations thereof as befits the polymathic subject of this book: Herbert Simon. The tripartite of the title, Minds, Models and Milieux, connotes the three inextricably linked areas to which Herbert Simon made the most distinguished of contributions. 'Minds' connotes Simon's abiding interest in theorizing human behavior, rationality, and decision-making; 'Models' connotes his extensive computer simulation work in the service of his interest in understanding minds, but also in the service of minds that are situated in a complex social 'Milieux'. This collection while intended to commemorate the centenary of Simon's birth simultaneously offers a timely reassessment of some of his central insights and illustrates the exponentially growing interest in Simon's work from beyond the usual disciplines and constituencies.

The Paradox Of Choice

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Author : Barry Schwartz
language : en
Publisher: Harper Collins
Release Date : 2009-10-13

The Paradox Of Choice written by Barry Schwartz and has been published by Harper Collins this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-10-13 with Psychology categories.

Whether we're buying a pair of jeans, ordering a cup of coffee, selecting a long-distance carrier, applying to college, choosing a doctor, or setting up a 401(k), everyday decisions—both big and small—have become increasingly complex due to the overwhelming abundance of choice with which we are presented. As Americans, we assume that more choice means better options and greater satisfaction. But beware of excessive choice: choice overload can make you question the decisions you make before you even make them, it can set you up for unrealistically high expectations, and it can make you blame yourself for any and all failures. In the long run, this can lead to decision-making paralysis, anxiety, and perpetual stress. And, in a culture that tells us that there is no excuse for falling short of perfection when your options are limitless, too much choice can lead to clinical depression. In The Paradox of Choice, Barry Schwartz explains at what point choice—the hallmark of individual freedom and self-determination that we so cherish—becomes detrimental to our psychological and emotional well-being. In accessible, engaging, and anecdotal prose, Schwartz shows how the dramatic explosion in choice—from the mundane to the profound challenges of balancing career, family, and individual needs—has paradoxically become a problem instead of a solution. Schwartz also shows how our obsession with choice encourages us to seek that which makes us feel worse. By synthesizing current research in the social sciences, Schwartz makes the counter intuitive case that eliminating choices can greatly reduce the stress, anxiety, and busyness of our lives. He offers eleven practical steps on how to limit choices to a manageable number, have the discipline to focus on those that are important and ignore the rest, and ultimately derive greater satisfaction from the choices you have to make.

Decision Economics In The Tradition Of Herbert A Simon S Heritage

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Author : Edgardo Bucciarelli
language : en
Publisher: Springer
Release Date : 2017-06-13

Decision Economics In The Tradition Of Herbert A Simon S Heritage written by Edgardo Bucciarelli and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-06-13 with Technology & Engineering categories.

The special session on Decision Economics (DECON) is a scientific forum held annually and intended to share ideas, projects, research results, models and experiences associated with the complexity of behavioural decision processes and socio‐economic phenomena. DECON 2017 was held at the Polytechnic of Porto, ISEP, Portugal, as part of the 14th International Conference on Distributed Computing and Artificial Intelligence. For the second consecutive year, the Editors of this book have drawn inspiration from Herbert A. Simon’s immense body of work and argue that Simon precipitated something akin to a revolution in microeconomics focused on the concept of decision‐making. Further, it is worth noting that the recognition of relevant decision‐making takes place in a range of critical subject areas and research fields, including economics, finance, information systems, small and international business management, operations, and production. Therefore, decision‐making issues are of fundamental importance in all branches of economics addressed both deductively and inductively. Not surprisingly, the study of decision‐making has seen growing empirical research efforts in the economic literature over the last sixty years and, more recently, a variety of insightful cutting‐edge experimental, behavioural and computational approaches. Additionally, the awareness regarding generalizations and reductions to express economic concepts has led, on the one hand, to an increasing risk of spreading the language of mathematics as a rhetorical tool and, on the other hand, to an oversimplification and overlooking of some crucial details, especially when it comes to human decisions and, hence, economic behaviour. That awareness, however, has helped to produce an extraordinary volume of empirical research aimed at discovering how economic agents cope with complex decisions. In this sense, the international scientific community acknowledges Herbert A. Simon’s research endeavours to understand the processes involved in economic decision‐making and their implications for the advancement of economic professions. Within the field of decision‐making, indeed, Simon’s rejection of the standard decision‐making models used in neoclassical economics inspired social scientists worldwide to develop research programmes in order to study decision‐making empirically. The main achievements concern decision‐making for individuals, firms, markets, governments, institutions, and, last but not least, science and research.

Mind Society And Human Action

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Author : Richard E. Wagner
language : en
Publisher:
Release Date : 2013-11-08

Mind Society And Human Action written by Richard E. Wagner and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-11-08 with Economics categories.

In this book, Wagner offers a new logic for economic analysis seeking to transcend the distinction between neoclassical and Austrian economics that has come increasingly into play over the past 30 years.

Managerial Economic Organizational Behavior

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Author : Johnny Ch Lok
language : en
Publisher:
Release Date : 2020-12-05

Managerial Economic Organizational Behavior written by Johnny Ch Lok and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-12-05 with categories.

Technology marketing cooperative strategyFuture when the thinking capabilities of computers approach our own is quickly coming into view. Raid process in coming decades will bring about machines with human -level intelligence capable of speech and reasoning, with a myriad of contributions to economics, politics and warcraft. The birth of true artificial intelligence will profoundly affect humankind's future. In our future technological development market, what it will bring much influences to economy. I shall indicate these several aspects, they may include as below: On artificial intelligent invention brings high unemployment to low skill employees aspect, from the time the last artificial intelligence break through was reached in the last 1940s, scientists around the world have looked for ways of this " artificial intelligence" to improve technology, raising efficiency and productivity beyond what even the most sophisticated of today's artificial intelligence programs can achieve. Even now, research is ongoing to better understand what the new AI programs will be able to do, when remaining within the intelligence such as human brain. Most AI programs currently programmed have been limited primarily to making simple decisions or performing simple operations on relatively small amounts of data.AI technological invention will bring much contribution to influence our future economic development. It had unique characteristics to compare common machines and it can help many industries to raise efficiency, productivity and improve performance as well as consumer individual self use. Such as the network is not taught to understand prose in any human sense. Instead, during its training phase, it adjusts the internal connections in its simulated neural networks to best anticipate the next word. It can be applied to read any article and understand any meaning to write any article as same to authors' mind and writing ability. For example, in the future, any one entered the first few sentences of any article, you are reading, the algorithm spewed out two paragraphs that sounded liked a freshman's effort to recall the gist of an introductory lecture on machine learning during which she was daydreaming. The output contains all the right words and phrases, not bad. So, (AI) technology can be applied to become just one more example of programs that do things thought to be uniquely human playing the real-time strategy game, translating text, making personal recommendations for books and movies, recognizing people in images and videos. But with the invention, of deep neural networks and the massive computational of the tech industry, computers improved until their outputs to longer appeared . In the future, algorithms can best humans, (AI) can help human to do any things in possible. Then, our society will encounter one automobile machine working environment. Does (AI) innovation will low skill employees lose their jobs because robotic can replace to any human to do simple jobs in any industries.Whether machines can become sentient matters for ethical reasons.Knowledge creation brings economic benefit to organizationKnowledge creation can help organization to reduce cost in managerial economist view. For example, three factors influence the costs of transferring information. First, are the characteristics of the sender and receiver. Generally, it is less expensive from people of similar training, language and culture to communicate than for people from different backgrounds. Second is the technology available for communication. For example, the development of electronic mail ( email) was lowered the costs of transferring information. These are the nature of the knowledge itself.