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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.
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.
Explains seemingly irrational human decision-making by taking into account our limited ability to process information
Shows with several examples that optimization under granularity restriction leads to observed human decision-making
Demonstrates that granularity helps to explain seemingly irrational human decision-making
Includes supplementary material: [...]
Erscheinungsjahr: | 2017 |
---|---|
Fachbereich: | Technik allgemein |
Genre: | Mathematik, Medizin, Naturwissenschaften, Technik |
Rubrik: | Naturwissenschaften & Technik |
Medium: | Buch |
Inhalt: |
ix
164 S. |
ISBN-13: | 9783319622132 |
ISBN-10: | 3319622137 |
Sprache: | Englisch |
Herstellernummer: | 978-3-319-62213-2 |
Einband: | Gebunden |
Autor: |
Kreinovich, Vladik
Lorkowski, Joe |
Auflage: | 1st edition 2018 |
Hersteller: | Springer International Publishing |
Verantwortliche Person für die EU: | Springer Verlag GmbH, Tiergartenstr. 17, D-69121 Heidelberg, juergen.hartmann@springer.com |
Maße: | 241 x 160 x 16 mm |
Von/Mit: | Vladik Kreinovich (u. a.) |
Erscheinungsdatum: | 12.07.2017 |
Gewicht: | 0,436 kg |
Explains seemingly irrational human decision-making by taking into account our limited ability to process information
Shows with several examples that optimization under granularity restriction leads to observed human decision-making
Demonstrates that granularity helps to explain seemingly irrational human decision-making
Includes supplementary material: [...]
Erscheinungsjahr: | 2017 |
---|---|
Fachbereich: | Technik allgemein |
Genre: | Mathematik, Medizin, Naturwissenschaften, Technik |
Rubrik: | Naturwissenschaften & Technik |
Medium: | Buch |
Inhalt: |
ix
164 S. |
ISBN-13: | 9783319622132 |
ISBN-10: | 3319622137 |
Sprache: | Englisch |
Herstellernummer: | 978-3-319-62213-2 |
Einband: | Gebunden |
Autor: |
Kreinovich, Vladik
Lorkowski, Joe |
Auflage: | 1st edition 2018 |
Hersteller: | Springer International Publishing |
Verantwortliche Person für die EU: | Springer Verlag GmbH, Tiergartenstr. 17, D-69121 Heidelberg, juergen.hartmann@springer.com |
Maße: | 241 x 160 x 16 mm |
Von/Mit: | Vladik Kreinovich (u. a.) |
Erscheinungsdatum: | 12.07.2017 |
Gewicht: | 0,436 kg |