Decision Theory and Choices: a Complexity Approach

Name: Decision Theory and Choices: a Complexity Approach
Brand: Springer Verlag
SKU: 9788847017771
Price: 712.4 PLN
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Autor: Marisa Faggini, Concetto Paolo Vinci

Język:

Oprawa: Twarda

Wydawca: Springer Verlag

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In economics agents are assumed to choose on the basis of rational calculations aimed at the maximiz...

Informacje o książce

Autor

Marisa Faggini, Concetto Paolo Vinci

Język

Angielski

Oprawa

Książka - Twarda

Data wydania

2010

strony

251

EAN

9788847017771

ISBN

8847017777

Enbook ID

05321685

Wydawca

Springer Verlag

Waga

559

Wymiary

162 x 241 x 29

Pełny opis

In economics agents are assumed to choose on the basis of rational calculations aimed at the maximization of their pleasure or profit. Formally, agents are said to manifest transitive and consistent preferences in attempting to maximize their utility in the presence of several constraints. They operate according to the choice imperative: given a set of alternatives, choose the best. This imperative works well in a static and simplistic framework, but it may fail or vary when 'the best' is changing continuously. This approach has been questioned by a descriptive approach that springing from the complexity theory tries to give a scientific basis to the way in which individuals really choose, showing that those models of human nature is routinely falsified by experiments since people are neither selfish nor rational. Thus inductive rules of thumb are usually implemented in order to make decisions in the presence of incomplete and heterogeneous information sets.

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