Ambiguity effect: decision-making influenced by lack of information
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F67985556%3A_____%2F21%3A00547793" target="_blank" >RIV/67985556:_____/21:00547793 - isvavai.cz</a>
Alternative codes found
RIV/61384399:31160/21:00058378
Result on the web
<a href="http://dx.doi.org/10.1109/ICTE51655.2021.9584706" target="_blank" >http://dx.doi.org/10.1109/ICTE51655.2021.9584706</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1109/ICTE51655.2021.9584706" target="_blank" >10.1109/ICTE51655.2021.9584706</a>
Alternative languages
Result language
angličtina
Original language name
Ambiguity effect: decision-making influenced by lack of information
Original language description
Quite often, the best human decision-makers outperform computer-aided decision systems. It is not only because humans can take into account faint pieces of information that cannot be formalized but also that they occasionally behave intuitively, which can hardly be incorporated into a formal optimization criterion. Therefore, mathematicians enhance their decision models to make their behavior similar to that of human decision-makers. They fit decision models up with different parameters controlling the optimality of the considered decision. From this point of view, the simplest and perhaps the most popular is the Hurwitz coefficient of pessimism controlling whether the decision process tends to expect more the best or the worst outcome. In this paper, we design a model with a parameter controlling the strength of ambiguity aversion of the resulting decision process.
Czech name
—
Czech description
—
Classification
Type
D - Article in proceedings
CEP classification
—
OECD FORD branch
10103 - Statistics and probability
Result continuities
Project
<a href="/en/project/GA19-06569S" target="_blank" >GA19-06569S: Managerial Decisions: Rationality of Paradoxical Behavior</a><br>
Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace
Others
Publication year
2021
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Article name in the collection
2021 IEEE International Conference on Technology and Entrepreneurship (ICTE)
ISBN
978-1-6654-3895-7
ISSN
—
e-ISSN
—
Number of pages
6
Pages from-to
9584706
Publisher name
IEEE
Place of publication
Piscataway
Event location
Kaunas
Event date
Aug 24, 2021
Type of event by nationality
WRD - Celosvětová akce
UT code for WoS article
—