Use of Algorithms in Controlling
Thomas Schneider
Chapter 6 in Digitalization and Artificial Intelligence, 2023, pp 33-39 from Springer
Abstract:
Abstract Selected algorithms often offer surprising answers to a variety of questions. The “mountaineering algorithm” shows how to achieve large goals, not small goals already perceived as a maximum. The “stopping problem” develops solutions for one-time decisions, clarifies how long to search and when the time to decide has come. Gotts’ algorithm gives hints how long a certain situation will last, a company will still exist. However, no algorithm knows moral or ethical criteria. Humans react very sensitively to unfair behavior, and are willing to forego their own advantage again and again in experimental setups in order to punish unfair participants. Not least for this reason, there must always be a human being at the end of every decision.
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-658-40383-6_6
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DOI: 10.1007/978-3-658-40383-6_6
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