Tag Search Results: decision making
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NEWS
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PUBLICATIONS
  • Organizational Wisdom (2005)

    Abstract In today’s information driven world ‘continuous learning and subsequent implementation’ is the only way to survive. This requires wisdom. Wisdom can be classified as a type of propositional knowledge that allows believing without sufficient evidence and not believing with sufficient evidence...
    (My publication) Posted by: aloke1968
  • The Wisdom of Crowds (2005)

    "No one in this world, so far as I know, has ever lost money by underestimating the intelligence of the great masses of the plain people." -H. L. Mencken H. L. Mencken was wrong. In this endlessly fascinating book, New Yorker columnist James Surowiecki explores a deceptively simple idea that...
    (Something interesting I found) Posted by: brendah
  • Psychology and development economics (2004)

    In the standard economic model, people are unbounded in their ability to think through problems. Regardless of complexity, they can costlessly figure out the optimal choice. They are also unbounded in their self-control. In contrast to the traditional model, a growing body of research interprets economic...
    (My publication) Posted by: smullainathan
  • Toward a transactional theory of decision making: creative rationality as functional coordination in context (2003)

    This paper poses a Deweyan challenge to both the neoclassical framework of rational choice and models of bounded rationality and deliberation, especially the procedural theory of rationality advanced by Herbert Simon. We demonstrate how modern theories on procedural or instrumental rationality trace...
    (My publication) Posted by: smousavi
  • Practical Reason and the Stability Standard (2002)

    Practical reasoning, reasoning about what to do, is a very familiar activity. When we think about whether to cook or to go out for dinner, to buy a house or rent, or to study law or business, we are engaged in practical reasoning. If the kind of reasoning we engage in is truly a rational process, there...
    (My publication) Posted by: vtiberius
  • A Memory-Based Model of Bounded Rationality (2002)

    In order to investigate the impact of limited memory on human behavior, I develop a model of memory grounded in psychological and biological research. I assume that people take their memories as accurate and use them to make inferences. The resulting model predicts both over- and underreaction but provides...
    (My publication) Posted by: smullainathan
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DISCUSSIONS
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