Authors:
Presents the conceptual and mathematical framework of decision-making processes and explains how decision making can be better understood and explained
Provides a re-interpretation of existing theories and proposes a new overview of decision behaviors by integrating mathematical and psychological perspectives
Introduces a new behavioral decision theory that differs substantially from the theoretical system proposed by Daniel Kahneman and Amos Tversky
Includes supplementary material: sn.pub/extras
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Table of contents (13 chapters)
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Front Matter
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Behavioral Decision Theory and the Idea of It
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Front Matter
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Preference Reversal Phenomenon and Description of the Phenomenon
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Front Matter
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Expected Utility Theory and Its Counterexamples
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Front Matter
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Decision Making and Prospect Theory
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Front Matter
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The Framing Effect and Its Descriptions
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Front Matter
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Decision-Making Process and Its Theory
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Front Matter
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Behavioral Decision Theory and Good Decision Making
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Front Matter
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About this book
This book provides an overview of behavioral decision theory and related research findings. In brief, behavioral decision theory is a general term for descriptive theories to explain the psychological knowledge related to decision-making behavior. It is called a theory, but actually it is a combination of various psychological theories, for which no axiomatic systems, such as the utility theory widely used in economics, have been established; it is often limited to qualitative knowledge. However, as suggested in the studies of H. A. Simon, who won the Nobel Prize for Economics in 1978, and D. Kahneman, who won the prize in 2002, the psychological methodology and knowledge of behavioral decision theory have been applied widely in such fields as economics, business administration, and engineering, and are expected to become more useful in the future. This book explains various behavioral decision theories related to decision-making processes. Numerous models have been proposed to explain the psychological processes related to such a selection of decision strategies, and this book also introduces some new models that are useful to explain decision-making processes. The book concludes with speculation about the future of modern behavioral decision theories while referring to their relation to fields associated with neuroscience, such as neuroeconomics, that have been developed in recent years. In addition, each chapter includes a bibliography that can be referred to when studying more details related to behavioral decision theory. Reading this book requires no advanced expertise; nonetheless, an introductory knowledge of psychology, business administration, and economics, and approximately a high school graduate’s level of mathematics should facilitate the reader’s comprehension of the content.
Authors and Affiliations
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Department of Psychology, Waseda University, Shinju-ku, Japan
Kazuhisa Takemura
Bibliographic Information
Book Title: Behavioral Decision Theory
Book Subtitle: Psychological and Mathematical Descriptions of Human Choice Behavior
Authors: Kazuhisa Takemura
DOI: https://doi.org/10.1007/978-4-431-54580-4
Publisher: Springer Tokyo
eBook Packages: Business and Economics, Business and Management (R0)
Copyright Information: Springer Japan 2014
Softcover ISBN: 978-4-431-56216-0Published: 03 September 2016
eBook ISBN: 978-4-431-54580-4Published: 08 July 2014
Edition Number: 1
Number of Pages: XV, 207
Number of Illustrations: 33 b/w illustrations, 11 illustrations in colour
Topics: Operations Research/Decision Theory, Behavioral/Experimental Economics, Sociological Theory