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Escaping from Bad Decisions: A Behavioral Decision-Theoretic Perspective
Paperback
Series: Perspectives in Behavioral Economics and the Economics of Be
ISBN13: 9780128160329
Publisher: Academic Press
Published: Jul 30 2021
Pages: 542
Weight: 1.58
Height: 1.10 Width: 6.00 Depth: 9.00
Language: English
Escaping from Bad Decisions presents a modern conceptual and mathematical framework of the decision-making process. By interpreting ordinal utility theory as normative analysis examined in view of rationality, it shows how decision-making under certainty, risk, and uncertainty can be better understood. It provides a critical examination of psychological models in multi-attribute decision-making, and evaluates the constitutive elements of good and bad decisions. Multi-attribute decision-making is analysed descriptively, based on the psychological model of decision-making and computer simulations of decision strategies. Finally, prescriptive examinations of multi-attribute decision-making are performed, supporting the argument that decision-making from a pluralistic perspective creates results that can help escape from bad decisions.
This book will be of particular interest to graduate students and early career researchers in economics, decision-theory, behavioral economics, experimental economics, psychology, cognitive sciences, and decision neurosciences.
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