Bounded Rationality in Decision Making Under Uncertainty: Towards Optimal Granularity

Bounded Rationality in Decision Making Under Uncertainty: Towards Optimal Granularity

Versandkostenfrei!
Versandfertig in 6-10 Tagen
75,99 €
inkl. MwSt.
Weitere Ausgaben:
PAYBACK Punkte
38 °P sammeln!
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 limite...