Decision Making and Imperfection

0389621 - ÚTIA 2013 DE eng B - Monography
Guy, Tatiana Valentine (ed.) - Kárný, Miroslav (ed.) - Wolpert, D. H. (ed.)
Decision Making and Imperfection.
Berlin: Springer, 2013. 187 s. Studies in Computational Intelligence, 474. ISBN 978-3-642-36405-1. ISSN 1860-949X
R&D Projects: GA ČR GA102/08/0567; GA ČR GA13-13502S
Institutional research plan: CEZ:AV0Z10750506
Institutional support: RVO:67985556
Keywords : decision making * imperfection
Subject RIV: BC - Control Systems Theory

Decision making (DM) is ubiquitous in both natural and artificial systems. The decisions made often differ from those recommended by the axiomatically well-grounded normative Bayesian decision theory, in a large part due to limited cognitive and computational resources of decision makers (either artificial units or humans). This state of affairs is often described by saying that decision makers are imperfect and exhibit bounded rationality. The neglected influence of emotional state and personality traits is an additional reason why normative theory fails to model human DM process. The book is a joint effort of the top researchers from different disciplines to identify sources of imperfection and ways how to decrease discrepancies between the prescriptive theory and real-life.
Permanent Link: http://hdl.handle.net/11104/0219532