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  1. Heuristics and public policy
    decision making under bounded rationality
    Author: Dhami, Sanjit S.; Al-Nowaihi, Ali; Sunstein, Cass R.
    Published: 18 June 2018
    Publisher:  Harvard Law School, Cambridge, MA

    How do human beings make decisions when, as the evidence indicates, the assumptions of the Bayesian rationality approach in economics do not hold? Do human beings optimize, or can they? Several decades of research have shown that people possess a... more

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    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    How do human beings make decisions when, as the evidence indicates, the assumptions of the Bayesian rationality approach in economics do not hold? Do human beings optimize, or can they? Several decades of research have shown that people possess a toolkit of heuristics to make decisions under certainty, risk, subjective uncertainty, and true uncertainty (or Knightian uncertainty). We outline recent advances in knowledge about the use of heuristics and departures from Bayesian rationality, with particular emphasis on growing formalization of those departures, which add necessary precision. We also explore the relationship between bounded rationality and libertarian paternalism, or nudges, and show that some recent objections, founded on psychological work on the usefulness of certain heuristics, are based on serious misunderstandings

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
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    Series: Discussion paper / Harvard John M. Olin Center for Law, Economics, and Business ; no. 963 (06/2018)
    Harvard Public Law Working Paper ; No. 19-04
    Subjects: Heuristics; biases; Bayesian rationality; ecological rationality; true uncertainty; libertarian paternalism
    Scope: 1 Online-Ressource (circa 84 Seiten), Illustrationen
  2. Strategies for solving wicked problems of true uncertainty
    tackling pandemics like Covid-19 (Version: April 13, 2020)
    Author: Mathur, Ajeet N.
    Published: [2020]
    Publisher:  Indian Institute of Management, Ahmedabad, India

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    VS 797
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: [Working papers] / Indian Institute of Management ; W.P. no. 2020, 04-03 (April 2020)
    Subjects: Covid-19; pandemics; strategies; wicked problems; true uncertainty
    Scope: 1 Online-Ressource (circa 29 Seiten)