Decision-making Under Uncertainty

Decision-making Under Uncertainty
Author: Tapan Biswas
Publisher: Palgrave Macmillan
Total Pages: 215
Release: 1997
Genre: Business & Economics
ISBN: 9780312175771

This book systematically develops essential concepts in the economics of uncertainty and game theory. It also presents new ideas for further research. The first part deals with the economics of uncertainty, including a discussion of expected utility theory and non-expected utility theories, insurance market, portfolio analysis, principal-agent theory, as well as ethical issues presented in the context of choice under uncertainty. The second part develops an understanding of game theory as a tool for analysing the interactive decision-making process.

Wise Choices

Wise Choices
Author: Richard Zeckhauser
Publisher: McGraw-Hill Companies
Total Pages: 478
Release: 1996
Genre: Decision making
ISBN: 9780071036801

Wise Choices will help all those faced with consequential decisions, ambiguous alternatives, & uncertain outcomes to make choices that improve the welfare of individuals & society. In this book, leading scholars in economics, psychology, statistics, & decision theory grapple with the perennial question of how to make wise choices. In 23 articles, they explore topics such as individual decision making under uncertainty & the process of forging negotiated agreements. The contributors also analyze decisions regarding personal medical problems, national public policies, business investments, & international diplomacy.

Games and Decision Making

Games and Decision Making
Author: Charalambos D. Aliprantis
Publisher: Oxford University Press, USA
Total Pages: 0
Release: 2011
Genre: Decision making
ISBN: 9780195300222

Games and Decision Making, Second Edition, is a unique blend of decision theory and game theory. From classical optimization to modern game theory, authors Charalambos D. Aliprantis and Subir K. Chakrabarti show the importance of mathematical knowledge in understanding and analyzing issues in decision making. Through an imaginative selection of topics, Aliprantis and Chakrabarti treat decision and game theory as part of one body of knowledge. They move from problems involving the individual decision-maker to progressively more complex problems such as sequential rationality, auctions, and bargaining. By building each chapter on material presented earlier, the authors offer a self-contained and comprehensive treatment of these topics. Successfully class-tested in an advanced undergraduate course at the Krannert School of Management and in a graduate course in economics at Indiana University, Games and Decision Making, Second Edition, is an essential text for advanced undergraduates and graduate students of decision theory and game theory. The book is accessible to students who have a good basic understanding of elementary calculus and probability theory.

Decision Making Under Uncertainty

Decision Making Under Uncertainty
Author: David E. Bell
Publisher: Thomson South-Western
Total Pages: 228
Release: 1995
Genre: Business & Economics
ISBN:

These authors draw on nearly 50 years of combined teaching and consulting experience to give readers a straightforward yet systematic approach for making estimates about the likelihood and consequences of future events -- and then using those assessments to arrive at sound decisions. The book's real-world cases, supplemented with expository text and spreadsheets, help readers master such techniques as decision trees and simulation, such concepts as probability, the value of information, and strategic gaming; and such applications as inventory stocking problems, bidding situations, and negotiating.

Negotiation Analysis

Negotiation Analysis
Author: Howard Raiffa
Publisher: Harvard University Press
Total Pages: 567
Release: 2007-03-31
Genre: Business & Economics
ISBN: 0674255690

This masterly book substantially extends Howard Raiffa's earlier classic, The Art and Science of Negotiation. It does so by incorporating three additional supporting strands of inquiry: individual decision analysis, judgmental decision making, and game theory. Each strand is introduced and used in analyzing negotiations. The book starts by considering how analytically minded parties can generate joint gains and distribute them equitably by negotiating with full, open, truthful exchanges. The book then examines models that disengage step by step from that ideal. It also shows how a neutral outsider (intervenor) can help all negotiators by providing joint, neutral analysis of their problem. Although analytical in its approach--building from simple hypothetical examples--the book can be understood by those with only a high school background in mathematics. It therefore will have a broad relevance for both the theory and practice of negotiation analysis as it is applied to disputes that range from those between family members, business partners, and business competitors to those involving labor and management, environmentalists and developers, and nations.

Decision Making under Uncertainty

Decision Making under Uncertainty
Author: R.W. Scholz
Publisher: Elsevier
Total Pages: 457
Release: 1983-11-01
Genre: Science
ISBN: 0080866700

This volume contains the revised papers of an international symposium on research on fallacies, biases, and the development of decision behavior under uncertainty. The papers are organized in five main sections.The Introduction outlines the conceptual framework and how three of the sections - Cognitive Decision Research, Social Interaction, and Development and Epistemology - are interrelated and also how new fields, such as research into developmental questions, can be productively integrated.In the fifth section Comments are collected, which evaluate the impact of the contributions on decision research itself, and also on cognitive psychology, social psychology, economic theory, ant the discipline of mathematics education.

Decision Making Using Game Theory

Decision Making Using Game Theory
Author: Anthony Kelly
Publisher: Cambridge University Press
Total Pages: 228
Release: 2003-03-27
Genre: Business & Economics
ISBN: 9781139438131

Game theory is a key element in most decision-making processes involving two or more people or organisations. This book explains how game theory can predict the outcome of complex decision-making processes, and how it can help you to improve your own negotiation and decision-making skills. It is grounded in well-established theory, yet the wide-ranging international examples used to illustrate its application offer a fresh approach to an essential weapon in the armoury of the informed manager. The book is accessibly written, explaining in simple terms the underlying mathematics behind games of skill, before moving on to more sophisticated topics such as zero-sum games, mixed-motive games, and multi-person games, coalitions and power. Clear examples and helpful diagrams are used throughout, and the mathematics is kept to a minimum. It is written for managers, students and decision makers in any field.