Springer - Decision Making with Imperfect Decision Makers 28

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.