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Springer - Decision Making with Imperfect Decision Makers 28

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Description

Explore the complexities of human choice in an era of advanced algorithms. While prescriptive Bayesian decision making is highly mature and algorithmically supported, real-world data shows that people rarely choose Bayes-optimal decisions. Instead, they often make choices that are significantly sub-optimal. This volume from the Intelligent Systems Reference Library (Volume 28) addresses the reality that imperfect decision-making is an inherent feature of individuals living within interacting societies. While previous research has viewed these social interactions through the lenses of economics, game theory, and physics, this work provides a necessary perspective on how imperfect agents function in real-world environments. This book is an essential resource for those studying the gap between theoretical optimality and actual human behavior. It offers deep insights into why decision makers deviate from mathematical ideals and how these deviations impact broader social and systemic structures.

Key Features

Examines the gap between Bayes-optimal decisions and actual human behavior observed in experimental data.

Part of the Intelligent Systems Reference Library, Volume 28, providing a specialized academic foundation.

Analyzes imperfect decision-making as an inherent feature of individuals within interacting societies.

Connects theoretical decision models with real-world observations of sub-optimal choices.

Provides a scientific perspective on how imperfect agents influence social and economic environments.

Product Specifications

Format
hardcover
Domain
Amazon UK
Release Date
05 November 2011
Listed Since
07 September 2011

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