Rational Decision and Risk Analysis and Irrational Human Behavior

Louis Anthony Cox
Additional contact information
Louis Anthony Cox: Cox Associates and University of Colorado

Chapter Chapter 1 in AI-ML for Decision and Risk Analysis, 2023, pp 3-35 from Springer

Abstract: Abstract Findings from behavioral economics experiments and brain imaging studies in people and other primates and investigations of the interplay between emotions, attention, learning, and cognitive decision-making, are entering the main stream of popular science expositions and shedding new light on what it means to be human. How and why humans exhibit unreasonably effective cooperation and altruism is being illuminated by such experiments and by the speculations of evolutionary psychologists, leading to exciting progress in understanding what kinds of improvements may be possible in individual, group, organizational, and societal risk management. This chapter reviews this progress in understanding of rational, non-rational, social, and moral thinking in deciding how to manage risks and make decisions under uncertainty as a prelude to considering how human and artificial intelligence may be used to improve such decision-making in the future.

Keywords: Decision analysis; decision science; Behavioral economics; Decision psychology; System 1 and System 2 thinking; Morality (search for similar items in EconPapers)
Date: 2023
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:isochp:978-3-031-32013-2_1

Ordering information: This item can be ordered from
http://www.springer.com/9783031320132

DOI: 10.1007/978-3-031-32013-2_1

Access Statistics for this chapter

More chapters in International Series in Operations Research & Management Science from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().