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| 020 | ▼a 1444336525 (pbk. : alk. paper) | |
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| 090 | ▼a 658.403 ▼b G466m | |
| 100 | 1 | ▼a Gilboa, Itzhak. |
| 245 | 1 0 | ▼a Making better decisions : ▼b decision theory in practice / ▼c Itzhak Gilboa. |
| 260 | ▼a Chichester, West Sussex ; ▼a Malden, MA : ▼b Wiley-Blackwell, ▼c c2011. | |
| 300 | ▼a ix, 219 p. : ▼b ill. ; ▼c 23 cm. | |
| 504 | ▼a Includes bibliographical references and index. | |
| 505 | 8 | ▼a Machine generated contents note: Chapter 1 Background. -- Suggested Reading. -- Chapter 2 Judgment and Choice Biases. -- Introduction. -- Problems - Group A. -- Problems - Group B. -- Framing Effects. -- Brainstorming and Formal Models. -- Endowment Effect. -- Sunk Costs. -- Decision Trees. -- Representativeness Heuristic. -- Availability Heuristic. -- Anchoring. -- Mental Accounting. -- Dynamic Inconsistency. -- Exercises. -- Chapter 3 Consuming Statistical Data. -- Introduction. -- Problems. -- Conditional Probabilities. -- Gambler's Fallacy. -- Biased Samples. -- Regression to the Mean. -- Correlation and Causation. -- Statistical Significance. -- Bayesian and Classical Statistics. -- Exercises. -- Chapter 4 Decisions under Risk. -- Introduction. -- Problems. -- The Independence Axiom. -- von-Neumann and Morgenstern's Result. -- Measurement of Utility. -- Risk Aversion. -- Prospect Theory. -- Exercises. -- Chapter 5 Decisions under Uncertainty. -- Introduction. -- Problems. -- Subjective Probability. -- Learning from the fact we know. -- Causality. -- The Sure Thing Principle. -- Alternative Models. -- Objective Probabilities. -- Exercises. -- Chapter 6 Well-Being and Happiness. -- Introduction. -- Problems - Group A. -- Problems - Group B. -- Well Being. -- Measurement Issues. -- What's Happiness? -- Exercises. -- Chapter 7 Appendix A: Optimal Choice. -- Chapter 8 Appendix B: Probability and Statistics. -- Solutions. |
| 520 | ▼a "Making Better Decisions introduces readers to some of the principal aspects of decision theory, and examines how these might lead us to make better decisions.[bullet] Introduces readers to key aspects of decision theory and examines how they might help us make better decisions[bullet] Presentation of material encourages readers to imagine a situation and make a decision or a judgment[bullet] Offers a broad coverage of the subject including major insights from several sub-disciplines: microeconomic theory, decision theory, game theory, social choice, statistics, psychology, and philosophy[bullet] Explains these insights informally in a language that has minimal mathematical notation or jargon, even when describing and interpreting mathematical theorems[bullet] Critically assesses the theory presented within the text, as well as some of its critiques[bullet] Includes a web resource for teachers and students"-- ▼c Provided by publisher. | |
| 520 | ▼a "Making Better Decisions: Decision Theory in Practice introduces readers to some of the principal ideas from decision theory and examines how they might help us make better decisions. The presentation is designed to appeal to students and the general reader; based on problems, readers are encouraged to imagine a situation, and then make a decision or a judgment. The problems are chosen to exemplify some principles developed in decision theory, as well as violations of these principles derived from the psychological literature. Making Better Decisions offers explanations of both the theories we would like to adopt in order to make better decisions, and the theories that explain how those around us behave. In doing so, the book presents crucial insights into the decision-making process that can influence and change our behavior and our ability to interact with those around us"-- ▼c Provided by publisher. | |
| 650 | 0 | ▼a Decision making. |
Holdings Information
| No. | Location | Call Number | Accession No. | Availability | Due Date | Make a Reservation | Service |
|---|---|---|---|---|---|---|---|
| No. 1 | Location Main Library/Western Books/ | Call Number 658.403 G466m | Accession No. 511030233 | Availability Available | Due Date | Make a Reservation | Service |
Contents information
Book Introduction
Making Better Decisions introduces readers to some of the principal aspects of decision theory, and examines how these might lead us to make better decisions.
- Introduces readers to key aspects of decision theory and examines how they might help us make better decisions
- Presentation of material encourages readers to imagine a situation and make a decision or a judgment
- Offers a broad coverage of the subject including major insights from several sub-disciplines: microeconomic theory, decision theory, game theory, social choice, statistics, psychology, and philosophy
- Explains these insights informally in a language that has minimal mathematical notation or jargon, even when describing and interpreting mathematical theorems
- Critically assesses the theory presented within the text, as well as some of its critiques
- Includes a web resource for teachers and students
New feature
Making Better Decisions: Decision Theory in Practice introduces readers to some of the principal ideas from decision theory and examines how they might help us make better decisions.The presentation is designed to appeal to students and the general reader; based on problems, readers are encouraged to imagine a situation, and then make a decision or a judgment. The problems are chosen to exemplify some principles developed in decision theory, as well as violations of these principles derived from the psychological literature.
Making Better Decisions offers explanations of both the theories we would like to adopt in order to make better decisions, and the theories that explain how those around us behave. In doing so, the book presents crucial insights into the decision-making process that can influence and change our behavior and our ability to interact with those around us.
Information Provided By: :
Table of Contents
Preface viii
Acknowledgments x
1 Background 1
Suggested Reading 5
2 Judgment and Choice Biases 6
Introduction 6
Problems – Group A 9
Problems – Group B 12
Framing Effects 15
Brainstorming and Formal Models 20
Endowment Effect 22
Sunk Costs 27
Decision Trees 30
Representativeness Heuristic 34
Availability Heuristic 39
Anchoring 44
Mental Accounting 46
Dynamic Inconsistency 51
Exercises 53
3 Consuming Statistical Data 57
Introduction 57
Problems 58
Conditional Probabilities 63
Gambler’s Fallacy 72
Biased Samples 77
Regression to the Mean 80
Correlation and Causation 81
Statistical Significance 84
Bayesian and Classical Statistics 85
Exercises 93
4 Decisions under Risk 98
Introduction 98
Problems 99
The Independence Axiom 102
Von Neumann and Morgenstern's Result 110
Measurement of Utility 113
Risk Aversion 116
Prospect Theory 123
Exercises 130
5 Decisions under Uncertainty 133
Introduction 133
Problems 134
Subjective Probability 141
Learning From the Fact We Know 151
Causality 163
The Sure Thing Principle 166
Alternative Models 171
Objective Probabilities 172
Exercises 174
6 Well-Being and Happiness 178
Introduction 178
Problems – Group A 179
Problems – Group B 180
Measurement Issues 184
What's Happiness? 186
Exercises 188
Appendix A: Optimal Choice 191
Appendix B: Probability and Statistics 195
Solutions 204
Index 210
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