Models of Decision-Making
Simplifying Choices
Published on 17. December 2014
978-1-316-23694-9 (ISBN)
Description
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.
More details
Language
English
Place of publication
Cambridge
United Kingdom
Publishing group
Cambridge University Press
Target group
Professional and scholarly
Illustrations
7 Tables, black and white; 15 Line drawings, black and white
File size
2160,09 MB
ISBN-13
978-1-316-23694-9 (9781316236949)
Copyright in bibliographic data and cover images is held by Nielsen Book Services Limited or by the publishers or by their respective licensors: all rights reserved.
Schweitzer Classification
Other editions
Additional editions
Book
02/2015
Cambridge University Press
€122.80
Shipment within 15-20 days
Person
Paul Weirich is a Curators' Professor in the Department of Philosophy at the University of Missouri. His previous books include Collective Rationality (2010), Realistic Decision Theory (2004), Decision Space (Cambridge, 2001) and Equilibrium and Rationality (Cambridge, 1998).
Content
Preface; Introduction; 1. Separability; 2. Expected utility; 3. Intrinsic utility; 4. Temporal utility; 5. Spatiotemporal utility; 6. Causal utility; Conclusion.
