Models of decision-making : simplifying choices /
Classical decision theory evaluates entire worlds, specified so as to include everything a decision-maker cares about. Thus applying decision theory requires performing computations far beyond an ordinary decision-maker's ability. In this book Paul Weirich explains how individuals can simplify...
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| Format: | Book |
| Language: | English |
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Cambridge :
Cambridge University Press,
2015
Cambridge ; New York : 2015 |
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| Summary: | Classical decision theory evaluates entire worlds, specified so as to include everything a decision-maker cares about. Thus applying decision theory requires performing computations far beyond an ordinary decision-maker's ability. In this book Paul Weirich explains how individuals can simplify and streamline their choices. He shows how different 'parts' of options (intrinsic, temporal, spatiotemporal, causal) are separable, so that we can know what difference one part makes to the value of an option, regardless of what happens in the other parts. He suggests that the primary value of options is found in basic intrinsic attitudes towards outcomes: desires, aversions, or indifferences. And using these two facts he argues that we need only compare small parts of the options we face in order to make a rational decision. This important book will interest readers in decision theory, economics, and the behavioral sciences "Classical decision theory evaluates entire worlds, specified so as to include everything a decision-maker cares about. Thus applying decision theory requires performing computations far beyond an ordinary decision-maker's ability. In this book Paul Weirich explains how individuals can simplify and streamline their choices. He shows how different "parts" of options (intrinsic, temporal, spatiotemporal, causal) are separable, so that we can know what difference one part makes to the value of an option, regardless of what happens in the other parts"-- |
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| Item Description: | Title from publisher's bibliographic system (viewed on 05 Oct 2015) |
| Physical Description: | 1 online resource (pages cm.) : 1 online resource (xi, 263 pages) : digital, PDF file(s) 1 online resource (xi, 263 pages) : illustrations |
| Bibliography: | Includes bibliographical references and index |
| ISBN: | 1-107-43478-5 1-139-93951-3 1-316-23505-X 1-316-23694-3 1-316-24639-6 1-316-24829-1 1-316-25018-0 1-316-25207-8 1-316-25396-1 1-316-25586-7 1139939513 1316248291 1316250180 9781139939515 9781316248294 9781316250181 |
| Access: | EBL Non-Linear Lending |