Decision Making with Imperfect Decision Makers (Intelligent Systems Reference Library) by Tatiana Valentine Guy
English | Nov 5, 2011 | ISBN: 364224646X | 198 Pages | PDF | 6 MB
Prescriptive Bayesian decision making has reached a high level of maturity and is well-supported algorithmically. However, experimental data shows that real decision makers choose such Bayes-optimal decisions surprisingly infrequently, often making decisions that are badly sub-optimal. So prevalent is such imperfect decision-making that it should be accepted as an inherent feature of real decision makers living within interacting societies.