Decision Making With Imperfect Decision Makers
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Decision Making With Imperfect Decision Makers
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Author : Tatiana Valentine Guy
language : en
Publisher: Springer Science & Business Media
Release Date : 2011-11-13
Decision Making With Imperfect Decision Makers written by Tatiana Valentine Guy 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 2011-11-13 with Technology & Engineering categories.
Prescriptive Bayesian decision making has reached a high level of maturity and is well-supported algorithmically. However, experimental data shows that real decision makers choose such Bayes-optimal decisions surprisingly infrequently, often making decisions that are badly sub-optimal. So prevalent is such imperfect decision-making that it should be accepted as an inherent feature of real decision makers living within interacting societies. To date such societies have been investigated from an economic and gametheoretic perspective, and even to a degree from a physics perspective. However, little research has been done from the perspective of computer science and associated disciplines like machine learning, information theory and neuroscience. This book is a major contribution to such research. Some of the particular topics addressed include: How should we formalise rational decision making of a single imperfect decision maker? Does the answer change for a system of imperfect decision makers? Can we extend existing prescriptive theories for perfect decision makers to make them useful for imperfect ones? How can we exploit the relation of these problems to the control under varying and uncertain resources constraints as well as to the problem of the computational decision making? What can we learn from natural, engineered, and social systems to help us address these issues?
Decision Making With Imperfect Decision Makers
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Author : Tatiana Valentine Guy
language : en
Publisher: Springer
Release Date : 2016-05-01
Decision Making With Imperfect Decision Makers written by Tatiana Valentine Guy and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-05-01 with categories.
Despite the high level of maturity now attained in prescriptive Bayesian decision making, real decision makers choose such Bayes-optimal solutions surprisingly infrequently. This book shows how these imperfections could be coped with in real life.
Decision Making And Imperfection
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Author : Tatiana V Guy
language : en
Publisher: Springer
Release Date : 2013-02-01
Decision Making And Imperfection written by Tatiana V Guy and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-02-01 with Technology & Engineering categories.
Decision making (DM) is ubiquitous in both natural and artificial systems. The decisions made often differ from those recommended by the axiomatically well-grounded normative Bayesian decision theory, in a large part due to limited cognitive and computational resources of decision makers (either artificial units or humans). This state of a airs is often described by saying that decision makers are imperfect and exhibit bounded rationality. The neglected influence of emotional state and personality traits is an additional reason why normative theory fails to model human DM process. The book is a joint effort of the top researchers from different disciplines to identify sources of imperfection and ways how to decrease discrepancies between the prescriptive theory and real-life DM. The contributions consider: · how a crowd of imperfect decision makers outperforms experts' decisions; · how to decrease decision makers' imperfection by reducing knowledge available; · how to decrease imperfection via automated elicitation of DM preferences; · a human's limited willingness to master the available decision-support tools as an additional source of imperfection; · how the decision maker's emotional state influences the rationality; a DM support of edutainment robot based on its system of values and respecting emotions. The book will appeal to anyone interested in the challenging topic of DM theory and its applications.
Decision Making Uncertainty Imperfection Deliberation And Scalability
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Author : Tatiana V. Guy
language : en
Publisher: Springer
Release Date : 2015-02-09
Decision Making Uncertainty Imperfection Deliberation And Scalability written by Tatiana V. Guy and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-02-09 with Technology & Engineering categories.
This volume focuses on uncovering the fundamental forces underlying dynamic decision making among multiple interacting, imperfect and selfish decision makers. The chapters are written by leading experts from different disciplines, all considering the many sources of imperfection in decision making, and always with an eye to decreasing the myriad discrepancies between theory and real world human decision making. Topics addressed include uncertainty, deliberation cost and the complexity arising from the inherent large computational scale of decision making in these systems. In particular, analyses and experiments are presented which concern: • task allocation to maximize “the wisdom of the crowd”; • design of a society of “edutainment” robots who account for one anothers’ emotional states; • recognizing and counteracting seemingly non-rational human decision making; • coping with extreme scale when learning causality in networks; • efficiently incorporating expert knowledge in personalized medicine; • the effects of personality on risky decision making. The volume is a valuable source for researchers, graduate students and practitioners in machine learning, stochastic control, robotics, and economics, among other fields.
Modeling Bounded Rationality
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Author : Ariel Rubinstein
language : en
Publisher: MIT Press
Release Date : 1998
Modeling Bounded Rationality written by Ariel Rubinstein and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with Business & Economics categories.
The notion of bounded rationality was initiated in the 1950s by Herbert Simon; only recently has it influenced mainstream economics. In this book, Ariel Rubinstein defines models of bounded rationality as those in which elements of the process of choice are explicitly embedded. The book focuses on the challenges of modeling bounded rationality, rather than on substantial economic implications. In the first part of the book, the author considers the modeling of choice. After discussing some psychological findings, he proceeds to the modeling of procedural rationality, knowledge, memory, the choice of what to know, and group decisions.In the second part, he discusses the fundamental difficulties of modeling bounded rationality in games. He begins with the modeling of a game with procedural rational players and then surveys repeated games with complexity considerations. He ends with a discussion of computability constraints in games. The final chapter includes a critique by Herbert Simon of the author's methodology and the author's response. The Zeuthen Lecture Book series is sponsored by the Institute of Economics at the University of Copenhagen.
Decision And Decision Maker In An Industrial Environment
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Author : Lamia Berrah
language : en
Publisher: John Wiley & Sons
Release Date : 2023-07-26
Decision And Decision Maker In An Industrial Environment written by Lamia Berrah 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 2023-07-26 with Technology & Engineering categories.
Decision and Decision-maker in an Industrial Environment developed around the observation that two different decision-makers, faced with the same problem, may not make the same decision. The book proposes explanations for this, ranging from the wholly rational to the irrational, and analyzes different factors in decision-making, such as the intention of the decision-maker, the environment in which their decision is made or the process leading to decision-making. While the common belief is that everything in an industrial environment stems from reasoned decisions, analysis of common practice shows that this is not always the case. This book offers an original perspective by presenting the decision making mechanism from the point of view of the decision maker and their handling of a specific decision-making problem. To learn more about the decision-maker’s motivations when faced with these situations, the authors provide a review of the history of decisionmaking and the major trends in decision-making theory. The concepts and methods are presented with illustrations based on the use of an MES, an industrial management software package.
Summary Of Stephen Guise S How To Be An Imperfectionist
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Author : Everest Media
language : en
Publisher: Everest Media LLC
Release Date : 2022-03-01T21:00:00Z
Summary Of Stephen Guise S How To Be An Imperfectionist written by Everest Media and has been published by Everest Media LLC this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-03-01T21:00:00Z with Self-Help categories.
Please note: This is a companion version & not the original book. Sample Book Insights: #1 A few years ago, in Virginia, a doofus voted for the wrong candidates in the state house of delegates. His ballot was examined by a judge, who decided that every voter deserves a chance to be heard. #2 The idea that every vote counts is inspiring and patriotic, but it is completely false. The probability of a single vote determining an election is so low that it would take centuries. #3 The true moral of Shelly Simonds’s story is not that every vote counts, but that people who vote are important in a way people who don’t vote are not. #4 America has two countries, the electorate and the non-voters. The electorate votes for representatives who then make decisions that affect them, while the non-voters simply accept how things are.
Group Dynamics For Teams
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Author : Daniel Levi
language : en
Publisher: SAGE
Release Date : 2007
Group Dynamics For Teams written by Daniel Levi and has been published by SAGE this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with Business & Economics categories.
Provides an overview of the basic psychological concepts of group dynamics with a focus on their application with teams in the workplace. This book focuses on organizational behaviour issues and helps readers understand and participate in teams more effectively. It includes a chapter on evaluating and rewarding teams, and examples and activities.
The Wiley Blackwell Handbook Of Judgment And Decision Making
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Author : Gideon Keren
language : en
Publisher: John Wiley & Sons
Release Date : 2015-12-14
The Wiley Blackwell Handbook Of Judgment And Decision Making written by Gideon Keren 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 2015-12-14 with Psychology categories.
A comprehensive, up-to-date examination of the most important theory, concepts, methodological approaches, and applications in the burgeoning field of judgment and decision making (JDM) Emphasizes the growth of JDM applications with chapters devoted to medical decision making, decision making and the law, consumer behavior, and more Addresses controversial topics from multiple perspectives – such as choice from description versus choice from experience – and contrasts between empirical methodologies employed in behavioral economics and psychology Brings together a multi-disciplinary group of contributors from across the social sciences, including psychology, economics, marketing, finance, public policy, sociology, and philosophy 2 Volumes
Handbook Of Research On Social And Economic Development In The European Union
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Author : Bayar, Yilmaz
language : en
Publisher: IGI Global
Release Date : 2019-11-29
Handbook Of Research On Social And Economic Development In The European Union written by Bayar, Yilmaz and has been published by IGI Global this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-11-29 with Business & Economics categories.
The EU has experienced serious economic and political crises such as the sovereign debt crisis and Brexit in the past few years. However, despite these issues, the EU has implemented considerable institutional, fiscal, and collective improvements during the unification process to continue as a significant actor in the global economy. The Handbook of Research on Social and Economic Development in the European Union provides a multidisciplinary evaluation of the institutional, economic, and social development of the European Union and makes inferences for the future dynamics and collaborations of the EU, the global economy, and other countries. Featuring coverage on a broad range of topics such as energy security, gender discrimination, and global economics, this book is ideally designed for government officials, policymakers, world leaders, politicians, diplomats, international relations officers, economists, business professionals, historians, market analysts, academicians, researchers, and students concerned about the multifaceted integration processes surrounding the EU.