Ambiguity effect: decision-making influenced by lack of information

Kód výsledku v 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>

Nalezeny alternativní kódy

RIV/61384399:31160/21:00058378

Výsledek na webu

<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>

Jazyk výsledku

angličtina

Název v původním jazyce

Ambiguity effect: decision-making influenced by lack of information

Popis výsledku v původním jazyce

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.

Název v anglickém jazyce

Ambiguity effect: decision-making influenced by lack of information

Popis výsledku anglicky

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.

Druh

D - Stať ve sborníku

CEP obor

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OECD FORD obor

10103 - Statistics and probability

Projekt

<a href="/cs/project/GA19-06569S" target="_blank" >GA19-06569S: Manažerské rozhodování: racionalita paradoxního chování</a><br>

Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2021

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název statě ve sborníku

2021 IEEE International Conference on Technology and Entrepreneurship (ICTE)

ISBN

978-1-6654-3895-7

ISSN

—

e-ISSN

—

Počet stran výsledku

6

Strana od-do

9584706

Název nakladatele

IEEE

Místo vydání

Piscataway

Místo konání akce

Kaunas

Datum konání akce

24. 8. 2021

Typ akce podle státní příslušnosti

WRD - Celosvětová akce

Kód UT WoS článku

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