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Decision Making

Descriptive, Normative, and Prescriptive Interactions

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Paperback | 10 July 1989

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636 Pages

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15.3 x 22.9 x 4.7

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The analysis of decision making under uncertainty has again become a major focus of interest. This volume presents contributions from leading specialists in different fields and provides a summary and synthesis of work in this area. It is based on a conference held at the Harvard Business School. The book brings together the different approaches to decision making - normative, descriptive, and prescriptive - which largely correspond to different disciplinary interests. Mathematicians have concentrated on rational procedures for decision making - how people should make decisions. Psychologists have examined how poeple do make decisions, and how far their behaviour is compatible with any rational model. Operations researchers study the application of decision models to actual problems. Throughout, the aim is to present the current state of research and its application and also to show how the different disciplinary approaches can inform one another and thus lay the foundations for the integrated analysis of decision making. The book will be of interest to researchers, teachers - for use as background reading for a decision theory course - students, and consultants and others involved in the practical application of the analysis of decision making. It will be of interest to specialists and students in statistics, mathematics, economics, psychology and the behavioural sciences, operations research, and management science.

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Non-Fiction Reference, Information & Interdisciplinary Subjects Research & Information Decision Theory Psychology Cognition & Cognitive Psychology Business & Management Management & Management Techniques Management Decision Making Economics Economic History Microeconomics

Preface	p. ix
Introduction	p. 1
Overview Paper
Descriptive, Normative, and Prescriptive Interactions in Decision Making	p. 9
Conceptions of Choice
Bounded Rationality, Ambiguity, and the Engineering of Choice	p. 33
Rationality as Process and as Product of Thought	p. 58
Normative Theories of Decision Making Under Risk and Under Uncertainty	p. 78
Risky Choice Revisited	p. 99
Behavioral Decision Theory: Processes of Judgment and Choice	p. 113
Reply to Commentaries	p. 147
Response Mode, Framing, and Information-Processing Effects in Risk Assessment	p. 152
Rational Choice and the Framing of Decisions	p. 167
Savage Revisited	p. 193
Beliefs and Judgments about Uncertainties
Languages and Designs for Probability Judgment	p. 237
Updating Subjective Probability	p. 266
Probability, Evidence, and Judgment	p. 284
The Effects of Statistical Training on Thinking about Everyday Problems	p. 299
Values and Utilities
The Mind as a Consuming Organ	p. 343
Disappointment in Decision Making Under Uncertainty	p. 358
Marginal Value and Intrinsic Risk Aversion	p. 384
Knowing What You Want: Measuring Labile Values	p. 398
Sources of Bias in Assessment Procedures for Utility Functions	p. 422
Simplicity in Decision Analysis: an Example and a Discussion	p. 443
Value-Focused Thinking and the Study of Values	p. 465
Areas of Application
Behavior Under Uncertainty and Its Implications for Policy	p. 497
The Relevance of Quasi Rationality in Competitive Markets	p. 508
How Senior Managers Think	p. 525
Problems in Producing Usable Knowledge for Implementing Liberating Alternatives	p. 540
On the Framing of Medical Decisions	p. 562
Whether or not to Administer Amphotericin to an Immunosuppressed Patient with Hematologic Malignancy and Undiagnosed Fever	p. 569
The Effect of Private Attitudes on Public Policy: Prenatal Screening for Neural Tube Defects as a prototype	p. 588
Discussion Agenda for the Session on Medical Decision Making and Minutes of a Group Discussion on Clinical Decision Making	p. 599
Discussion rapporteur
Index	p. 613
Table of Contents provided by Syndetics. All Rights Reserved.

Decision Making

Descriptive, Normative, and Prescriptive Interactions

At a Glance

Paperback

Shipping

How to return your order

Defective items

You Can Find This Book In

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