On the Origins of Imperfection and Apparent Non-Rationality

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F67985556%3A_____%2F14%3A00436371" target="_blank" >RIV/67985556:_____/14:00436371 - isvavai.cz</a>
Result on the web
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DOI - Digital Object Identifier
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Result language
angličtina
Original language name
On the Origins of Imperfection and Apparent Non-Rationality
Original language description
Decision making (DM) is a preferences-driven choice among available actions. Under uncertainty, Savage?s axiomatisation singles out Bayesian DM as the adequate normative framework. It constructs strategies generating the optimal actions, while assuming that the decision maker rationally tries to meet her preferences. DescriptiveDMtheories have observed numerous deviations of the realDMfrom normative recommendations. The explanation of decision-makers? imperfection or non-rationality, possibly followed by rectification, is the focal point of contemporary DM research. This chapter falls into this stream and claims that the neglecting a part of the behaviour of the closed DM loop is the major cause of these deviations.
Czech name
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Czech description
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Project
<a href="/en/project/GA13-13502S" target="_blank" >GA13-13502S: Fully Probabilistic Design of Dynamic Decision Strategies for Imperfect Participants in Market Scenarios</a><br>
Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year
2014
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Book/collection name
Decision Making: Uncertainty, Imperfection, Deliberation and Scalability
ISBN
978-3-319-15143-4
Number of pages of the result
36
Pages from-to
57-92
Number of pages of the book
202
Publisher name
Springer
Place of publication
Cham
UT code for WoS chapter
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