Decision Theory And Choices A Complexity Approach
Download Decision Theory And Choices A Complexity Approach PDF/ePub or read online books in Mobi eBooks. Click Download or Read Online button to get Decision Theory And Choices A Complexity Approach book now. This website allows unlimited access to, at the time of writing, more than 1.5 million titles, including hundreds of thousands of titles in various foreign languages.
Decision Theory and Choices: a Complexity Approach
Author: Marisa Faggini
language: en
Publisher: Springer Science & Business Media
Release Date: 2010-12-28
In economics agents are assumed to choose on the basis of rational calculations aimed at the maximization of their pleasure or profit. Formally, agents are said to manifest transitive and consistent preferences in attempting to maximize their utility in the presence of several constraints. They operate according to the choice imperative: given a set of alternatives, choose the best. This imperative works well in a static and simplistic framework, but it may fail or vary when 'the best' is changing continuously. This approach has been questioned by a descriptive approach that springing from the complexity theory tries to give a scientific basis to the way in which individuals really choose, showing that those models of human nature is routinely falsified by experiments since people are neither selfish nor rational. Thus inductive rules of thumb are usually implemented in order to make decisions in the presence of incomplete and heterogeneous information sets.
Decision Theory and Choices: a Complexity Approach
In economics agents are assumed to choose on the basis of rational calculations aimed at the maximization of their pleasure or profit. Formally, agents are said to manifest transitive and consistent preferences in attempting to maximize their utility in the presence of several constraints. They operate according to the choice imperative: given a set of alternatives, choose the best. This imperative works well in a static and simplistic framework, but it may fail or vary when 'the best' is changing continuously. This approach has been questioned by a descriptive approach that springing from the complexity theory tries to give a scientific basis to the way in which individuals really choose, showing that those models of human nature is routinely falsified by experiments since people are neither selfish nor rational. Thus inductive rules of thumb are usually implemented in order to make decisions in the presence of incomplete and heterogeneous information sets; errors and biases are the natural counterpart of learning and adapting processes. The papers collected in this volume show that economic agents, individual or aggregate, do not conform to standard economic models, highlighting how a different framework - complexity theory - could help to explain and understand the choice and decision process of economic agent.
Successful Decision-making
Author: Rudolf Grünig
language: en
Publisher: Springer Science & Business Media
Release Date: 2005
Making decisions is certainly the most important task of a manager and it is often a very difficult one. This book offers a decision making procedurenbsp;for solving complex problems step by step. Unlike other texts, the book focuses on problem analysis, on developing solution options and onnbsp;establishing thenbsp;decision making matrix. The book is intended for decision makers in companies, in non-profit organisations and in public administration. It is an approach to helping them tonbsp;solve complex problems successfully. The book is also addressed to students and to participants in executive courses.