Titlebook: Decision Modeling and Behavior in Complex and Uncertain Environments; Tamar Kugler,J. Cole Smith,Young-Jun Son Book 2008 Springer-Verlag N

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Reducing Perceptual and Cognitive Challenges in Making Decisions with Modelss, often made by analysts who created the models, must allow the decision makers not only to acquire information but also to process that information into a form that they can use effectively for decision making..This chapter illuminates the occurrence of eleven well-known perceptual and cognitive c

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On Optimal Satisficing: How Simple Policies Can Achieve Excellent Results satisficing decision makers were offered as an alternative to optimizers, who need impressive computational capacities in order to maximize their payoffs. In this chapter, we present a simplified sequential search problem for a satisficing decision maker, and show how to compute its optimal satisfi

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Individual Values and Social Goals in Environmental Decision Makingfits for all. The game-theoretic structure of these problems thus resembles commons dilemmas or similar multiplayer strategic choices, in which the incentives to eschew cooperation can lead to unfavorable outcomes for all the players. Such problems can sometimes be restructured by punishing noncoope

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Does More Money Buy You More Happiness? model incorporates both adaptation and social comparison. A rational person who fully accounts for the dynamics of these factors would indeed buy more happiness with money. We argue that projection bias, the tendency to project into the future our current reference levels, precludes subjects from c

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Cognitive Biases Affect the Acceptance of Tradeoff Studiesivity in decision making confirms that prospect theory is a good model for actual human decision making. Relationships between tradeoff studies and the elements of experiments in judgment and decision making show that tradeoff studies are susceptible to human cognitive biases. Examples of relevant b