Decision Making with Imperfect Decision Makers

0386716 - ÚTIA 2013 RIV DE eng B - Monography
Guy, Tatiana Valentine (ed.) - Kárný, Miroslav (ed.) - Wolpert, D. H. (ed.)
Decision Making with Imperfect Decision Makers.
Berlin: Springer-Verlag, 2012. 194 s. Intelligent Systems Reference Library, 28. ISBN 978-3-642-24646-3. ISSN 1868-4394
R&D Projects: GA ČR GA102/08/0567
Institutional research plan: CEZ:AV0Z1075907
Institutional support: RVO:67985556
Keywords : decision making * Bayesian decision making * rationality
Subject RIV: BB - Applied Statistics, Operational Research

Prescriptive Bayesian decision making has reached its maturity and is supported by efficient, theoretically well-founded algorithms. However, experimental data shows that real decision makers choose such Bayes-optimal decisions surprisingly infrequently, often making decisions that are badly sub-optimal. So prevalent is such imperfect decision making that it should be accepted as an inherent feature of real decision makers living within interacting societies. Such societies have been investigated from an economic and game-theoretic perspective but little work has been done from the perspective of computer science, machine learning, information theory and neuroscience. The workshop Decision Making with Multiple Imperfect Decision Makers, held after the 24th Annual Conference on Neural Information Processing Systems (NIPS 2010) was a step in bringing such alternative viewpoints to bear on the topic of understanding societies of imperfect decision makers.
Permanent Link: http://hdl.handle.net/11104/0216152