03795nam 22005535 450 991029987360332120200703063526.03-319-62214-510.1007/978-3-319-62214-9(CKB)4340000000062809(MiAaPQ)EBC4898708(DE-He213)978-3-319-62214-9(PPN)203670558(EXLCZ)99434000000006280920170703d2018 u| 0engurcnu||||||||rdacontentrdamediardacarrierBounded Rationality in Decision Making Under Uncertainty: Towards Optimal Granularity /by Joe Lorkowski, Vladik Kreinovich1st ed. 2018.Cham :Springer International Publishing :Imprint: Springer,2018.1 online resource (167 pages)Studies in Systems, Decision and Control,2198-4182 ;993-319-62213-7 Includes bibliographical references and index.Human Decisions Are Often Suboptimal: Phenomenon of Bounded Rationality -- Towards Explaining Other Aspects of Human Decision Making -- Towards Explaining Heuristic Techniques (Such as Fuzzy) in Expert Decision Making -- Decision Making Under Uncertainty and Restrictions on Computation Resources: From Heuristic to Optimal Techniques -- Conclusions and Future Work.This book addresses an intriguing question: are our decisions rational? It explains seemingly irrational human decision-making behavior by taking into account our limited ability to process information. It also shows with several examples that optimization under granularity restriction leads to observed human decision-making. Drawing on the Nobel-prize-winning studies by Kahneman and Tversky, researchers have found many examples of seemingly irrational decisions: e.g., we overestimate the probability of rare events. 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.Studies in Systems, Decision and Control,2198-4182 ;99Computational intelligenceCognitive psychologyArtificial intelligenceComputational Intelligencehttps://scigraph.springernature.com/ontologies/product-market-codes/T11014Cognitive Psychologyhttps://scigraph.springernature.com/ontologies/product-market-codes/Y20060Artificial Intelligencehttps://scigraph.springernature.com/ontologies/product-market-codes/I21000Computational intelligence.Cognitive psychology.Artificial intelligence.Computational Intelligence.Cognitive Psychology.Artificial Intelligence.620Lorkowski Joeauthttp://id.loc.gov/vocabulary/relators/aut1064142Kreinovich Vladikauthttp://id.loc.gov/vocabulary/relators/autBOOK9910299873603321Bounded Rationality in Decision Making Under Uncertainty: Towards Optimal Granularity2536615UNINA