Bounded Rationality in Decision Making Under Uncertainty: Towards Optimal Granularity
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 relevan…
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Produktdetails
Weitere Autoren: Lorkowski, Joe
- ISBN: 978-3-319-87260-5
- EAN: 9783319872605
- Produktnummer: 29980269
- Verlag: Springer International Publishing
- Sprache: Englisch
- Erscheinungsjahr: 2018
- Seitenangabe: 176 S.
- Masse: H23.5 cm x B15.5 cm x D0.9 cm 277 g
- Auflage: Softcover reprint of the original 1st ed. 2018
- Abbildungen: Paperback
- Gewicht: 277
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