rdf-syntax-grammar
mods:
  schema location: http://www.loc.gov/mods/v3 http://www.loc.gov/standards/mods/v3/mods-3-2.xsd
  title info:
    title: Bounded Rationality in Decision Making Under Uncertainty: Towards Optimal Granularity
  name:
    name part: Lorkowski, Joe.
    role:
      role term: creator
    role:
      role term: author.
    role:
      role term: aut
    role:
      role term: http://id.loc.gov/vocabulary/relators/aut
  name:
    name part: Kreinovich, Vladik.
    role:
      role term: author.
    role:
      role term: aut
    role:
      role term: http://id.loc.gov/vocabulary/relators/aut
  name:
    name part: SpringerLink (Online service)
  type of resource: text
  origin info:
    place:
      place term: gw
    date issued: 2018
    edition: 1st ed. 2018.
    issuance: monographic
  language:
    language term: eng
  physical description:
    form: electronic
    form: electronic resource
    reformatting quality: access
    form: remote
    extent: IX, 164 p. online resource.
  abstract: This book addresses an intriguing question: are our decisions rational? It explains seemingly irrational human decision-making behavior by taking into account our limited ability to process information. It also shows with several examples that optimization under granularity restriction leads to observed human decision-making. Drawing on the Nobel-prize-winning studies by Kahneman and Tversky, researchers have found many examples of seemingly irrational decisions: e.g., we overestimate the probability of rare events. Our explanation is that since human abilities to process information are limited, we operate not with the exact values of relevant quantities, but with "granules" that contain these values. We show that optimization under such granularity indeed leads to observed human behavior. In particular, for the first time, we explain the mysterious empirical dependence of betting odds on actual probabilities. This book can be recommended to all students interested in human decision-making, to researchers whose work involves human decisions, and to practitioners who design and employ systems involving human decision-making -so that they can better utilize our ability to make decisions under uncertainty.
  table of contents: Human Decisions Are Often Suboptimal: Phenomenon of Bounded Rationality -- Towards Explaining Other Aspects of Human Decision Making -- Towards Explaining Heuristic Techniques (Such as Fuzzy) in Expert Decision Making -- Decision Making Under Uncertainty and Restrictions on Computation Resources: From Heuristic to Optimal Techniques -- Conclusions and Future Work.
  note: by Joe Lorkowski, Vladik Kreinovich.
  subject:
    topic: Computational intelligence
  subject:
    topic: Cognitive psychology
  subject:
    topic: Artificial intelligence
  subject:
    topic: Computational Intelligence
  subject:
    topic: Cognitive Psychology
  subject:
    topic: Artificial Intelligence
  classification: Q342
  classification: 006.3
  related item:
    title info:
      title: Springer eBooks
  related item:
    title info:
      title: Studies in Systems, Decision and Control, 99
  identifier: 9783319622149
  identifier: https://doi.org/10.1007/978-3-319-62214-9
  record info:
    record creation date: 170703
    record change date: 20191220130310.0
    record identifier: 978-3-319-62214-9