Escaping from Bad Decisions: A Behavioral Decision-Theoretic Perspective

Kazuhisa Takemura*

*Corresponding author for this work

Research output: Book/ReportBook

1 Citation (Scopus)

Abstract

Escaping from Bad Decisions presents a modern conceptual and mathematical framework of the decision-making process. By interpreting ordinal utility theory as normative analysis examined in view of rationality, it shows how decision-making under certainty, risk, and uncertainty can be better understood. It provides a critical examination of psychological models in multi-attribute decision-making, and evaluates the constitutive elements of “good” and “bad” decisions. Multi-attribute decision-making is analysed descriptively, based on the psychological model of decision-making and computer simulations of decision strategies. Finally, prescriptive examinations of multi-attribute decision-making are performed, supporting the argument that decision-making from a pluralistic perspective creates results that can help “escape” from bad decisions. This book will be of particular interest to graduate students and early career researchers in economics, decision-theory, behavioral economics, experimental economics, psychology, cognitive sciences, and decision neurosciences.

Original languageEnglish
PublisherElsevier
Number of pages520
ISBN (Electronic)9780128160329
DOIs
Publication statusPublished - 2021 Jan 1

ASJC Scopus subject areas

  • Economics, Econometrics and Finance(all)
  • Business, Management and Accounting(all)

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