Patterns, methods and algorithms for decision-making

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Chapter 5 in Decisions, Preferences, and Heuristics, 2023, pp 152-229 from Edward Elgar Publishing

Abstract: This chapter describes the three major patterns of economic decision-making, i.e., heuristics, deliberation, and the transfer of decisional power, as well as their multiple algorithms, which are studied in detail. There are two further sections: one on the comparative effectiveness of heuristic algorithms versus rational computational methods, and the one on people’s understanding of probabilistic phenomena.

Keywords: Economics and Finance (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (2)

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