The Adaptive Decision Maker - Softcover

Payne, John W.

Softcover

ISBN 10: 0521425263 ISBN 13: 9780521425261

Publisher: Cambridge University Press, 1993

Synopsis

The Adaptive Decision Maker argues that people use a variety of strategies to make judgments and choices. The authors introduce a model that shows how decision makers which strategy a person will use in a given situation. A series of experiments testing the model are presented, and the authors analyze how the model can lead to improved decisions and opportunities for further research.

About this title

Book Description

Arguing that people use a variety of strategies when making judgments and choices, this study demonstrates how decision makers balance effort and accuracy considerations and predicts which strategy will be used in a given situation.

Review

"The Adaptive Decision Maker provides a compelling overview of the empirical results and conceptual framework that the authors have been pursuing in their research program over the last fifteen years. The effort-accuracy framework represents an attempt to shift the research agenda from demonstrations of `irrationality' in the form of heuristics and biases to an understanding of the causal mechanisms underlying the behavior...a significant work for the field of behavioral decision making as a whole." John Carroll, Massachusetts Institute of Technology

"...a framework for showing that an accuracy-effort approach to understanding how people decide to decide is a powerful one for understanding decision-making processes." Marketing News

"...The effort-accuracy perspective outlined in this book has considerable merit as a model of how decision makers cope with cognitive limitations. As such, it provides insight about where and when decision heuristics will produce errors...provides a valuable contribution to our grasp of these issues." Contemporary Psychology

"...a unique work in the study of human decision processes. The book is suitable reading for researchers and graduate students who study decision making from either a descriptive or normative perspective. It would also serve as an excellent source of discussion in graduate and advanced undergraduate seminars in decision research." Andre Kushniruk, Journal of Mathematical Psychology

"...highlights the intricacies of choice environments and demonstrates how we can begin to systematically assess the usefulness of various heuristics both to understand and to improve human decision making." Sandra L. Schneider, American Journal of Psychology

Edition details

• Publisher: Cambridge University Press
• Publication date: 1993
• Language: English
• ISBN 10: 0521425263
• ISBN 13: 9780521425261
• Binding: Paperback
• Edition number: 1
• Number of pages: 348