The Resource Decision Theory and Choices: a Complexity Approach, edited by Marisa Faggini, Concetto Paolo Vinci, (electronic resource)

Decision Theory and Choices: a Complexity Approach, edited by Marisa Faggini, Concetto Paolo Vinci, (electronic resource)

Label
Decision Theory and Choices: a Complexity Approach
Title
Decision Theory and Choices: a Complexity Approach
Statement of responsibility
edited by Marisa Faggini, Concetto Paolo Vinci
Contributor
Editor
Editor
Subject
Language
  • eng
  • eng
Summary
In economics agents are assumed to choose on the basis of rational calculations aimed at the maximization of their pleasure or profit. Formally, agents are said to manifest transitive and consistent preferences in attempting to maximize their utility in the presence of several constraints. They operate according to the choice imperative: given a set of alternatives, choose the best. This imperative works well in a static and simplistic framework, but it may fail or vary when 'the best' is changing continuously. This approach has been questioned by a descriptive approach that springing from the complexity theory tries to give a scientific basis to the way in which individuals really choose, showing that those models of human nature is routinely falsified by experiments since people are neither selfish nor rational. Thus inductive rules of thumb are usually implemented in order to make decisions in the presence of incomplete and heterogeneous information sets; errors and biases are the natural counterpart of learning and adapting processes. The papers collected in this volume show that economic agents, individual or aggregate, do not conform to standard economic models, highlighting how a different framework – complexity theory - could help to explain and understand the choice and decision process of economic agent
Member of
Is Subseries of
Dewey number
153.8/3
http://bibfra.me/vocab/relation/httpidlocgovvocabularyrelatorsedt
  • 7PNZngeNIP0
  • Hz8r9mcuKB4
Language note
English
LC call number
  • HB144
  • QA269-272
Literary form
non fiction
Nature of contents
dictionaries
http://library.link/vocab/relatedWorkOrContributorName
  • Faggini, Marisa.
  • Vinci, Concetto Paolo.
Series statement
New Economic Windows,
http://library.link/vocab/subjectName
  • Game theory
  • Physics
  • Economic policy
  • Economics
  • Game Theory, Economics, Social and Behav. Sciences
  • Applications of Graph Theory and Complex Networks
  • Political Economy/Economic Systems
Label
Decision Theory and Choices: a Complexity Approach, edited by Marisa Faggini, Concetto Paolo Vinci, (electronic resource)
Instantiates
Publication
Note
Description based upon print version of record
Bibliography note
Includes bibliographical references
Carrier category
online resource
Carrier category code
  • cr
Content category
text
Content type code
  • txt
Contents
General Issues -- Coherence, Complexity and Creativity: the Dynamics of Decision Making -- Complexity Theoretic Bounded Rationality and Satisficing -- Optimisation and “Thoughtful Conjecturing” as Principles of Analytical Guidance in Social Decision Making -- Agent Based Models -- A New Agent-based Tool to Build Artificial Worlds -- Exploration Modes and Its Impact on Industry Profitability -- Financial Fragility and Interacting Units: an Exercise -- Techniques and Tools -- Using Homogeneous Groupings in Portfolio Management -- Elman Nets for Credit Risk Assessment -- Modeling from Physics -- From Chemical Kinetics to Models of Acquisition of Information: On the Importance of the Rate of Acquisition of Information -- Thermodynamic-like Approach to Complexity of the Financial Market (in the Light of the Present Financial Crises) -- A Physicist’s Approach to Phase Controlling Chaotic Economic Models -- Related Issues -- A Note on Complaints and Deprivation -- Predictability of SOC Systems. Technological Extreme Events -- Ontology Based Risk Management
Dimensions
unknown
Edition
1st ed. 2010.
Extent
1 online resource (251 p.)
Form of item
online
Isbn
9788847017788
Media category
computer
Media type code
  • c
Other control number
10.1007/978-88-470-1778-8
Specific material designation
remote
System control number
  • (CKB)2670000000064854
  • (EBL)666852
  • (OCoLC)697121340
  • (SSID)ssj0000476040
  • (PQKBManifestationID)11291934
  • (PQKBTitleCode)TC0000476040
  • (PQKBWorkID)10471270
  • (PQKB)11380859
  • (DE-He213)978-88-470-1778-8
  • (MiAaPQ)EBC666852
  • (EXLCZ)992670000000064854
Label
Decision Theory and Choices: a Complexity Approach, edited by Marisa Faggini, Concetto Paolo Vinci, (electronic resource)
Publication
Note
Description based upon print version of record
Bibliography note
Includes bibliographical references
Carrier category
online resource
Carrier category code
  • cr
Content category
text
Content type code
  • txt
Contents
General Issues -- Coherence, Complexity and Creativity: the Dynamics of Decision Making -- Complexity Theoretic Bounded Rationality and Satisficing -- Optimisation and “Thoughtful Conjecturing” as Principles of Analytical Guidance in Social Decision Making -- Agent Based Models -- A New Agent-based Tool to Build Artificial Worlds -- Exploration Modes and Its Impact on Industry Profitability -- Financial Fragility and Interacting Units: an Exercise -- Techniques and Tools -- Using Homogeneous Groupings in Portfolio Management -- Elman Nets for Credit Risk Assessment -- Modeling from Physics -- From Chemical Kinetics to Models of Acquisition of Information: On the Importance of the Rate of Acquisition of Information -- Thermodynamic-like Approach to Complexity of the Financial Market (in the Light of the Present Financial Crises) -- A Physicist’s Approach to Phase Controlling Chaotic Economic Models -- Related Issues -- A Note on Complaints and Deprivation -- Predictability of SOC Systems. Technological Extreme Events -- Ontology Based Risk Management
Dimensions
unknown
Edition
1st ed. 2010.
Extent
1 online resource (251 p.)
Form of item
online
Isbn
9788847017788
Media category
computer
Media type code
  • c
Other control number
10.1007/978-88-470-1778-8
Specific material designation
remote
System control number
  • (CKB)2670000000064854
  • (EBL)666852
  • (OCoLC)697121340
  • (SSID)ssj0000476040
  • (PQKBManifestationID)11291934
  • (PQKBTitleCode)TC0000476040
  • (PQKBWorkID)10471270
  • (PQKB)11380859
  • (DE-He213)978-88-470-1778-8
  • (MiAaPQ)EBC666852
  • (EXLCZ)992670000000064854

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