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In this article we propose a two stage procedure to model demand decisions by customers who are balancing several dimensions of a product. We then test our procedure by analyzing the behavior of buyers from an Austrian price comparison site. Although in such a market a consumer will typically...
Persistent link: https://www.econbiz.de/10010294006
Contemporary approaches to decision making describe a decision problem by sets of states and outcomes, and a rich set … of acts: functions from states to outcomes over which the decision maker (DM) has preferences. Real problems do not come … decision making, in which the primitive objects of choice are syntactic programs. We show that if the DM's preference relation …
Persistent link: https://www.econbiz.de/10010294014
In this article we propose a two stage procedure to model demand decisions by customers who are balancing several dimensions of a product. We then test our procedure by analyzing the behavior of buyers from an Austrian price comparison site. Although in such a market a consumer will typically...
Persistent link: https://www.econbiz.de/10010294849
A belief operator derived from preferences is presented. It generalizes ‘belief with probability1’ to incomplete preferences and satisfies minimal requirements for belief operators under weak conditions.
Persistent link: https://www.econbiz.de/10010284299
We show how different kinds of belief operators derived from preferences can be defined in terms an accessibility relation of epistemic priority, and characterized by means of a vector of nested accessibility relations. The semantic structure is used to reconcile and compare certain non-standard...
Persistent link: https://www.econbiz.de/10010284443
which the decision maker has to make some effort in order to avoid mistakes when implementing any desired outcome. The … disutility of this effort enters the decision maker's goal function in an additively separable way. A particular disutility …
Persistent link: https://www.econbiz.de/10010335088
This paper analyses whether freedom of decision as a crucial precondition of normative deci-sion theory is questioned … decision as the necessary basis for handling ethical questions in business practice, rather then as a limitation to this end … plain determination on the one extreme and complete autonomy on the other. It supports the proposition in decision theory …
Persistent link: https://www.econbiz.de/10010427726
adaptation. A categorization is introduced that accounts for asymmetries in misprediction. In decision-making, goods and …
Persistent link: https://www.econbiz.de/10011390633
(PP) and decision analysis (DA), for natural resources management within the context of climate change research. The … proposal is presented, called NetSyMoD (Network Analysis Creative System Modelling Decision Support), which aims at … facilitating the involvement of stakeholders or experts in policy - or decision-making processes (P/DMP). A generic P/DMP is …
Persistent link: https://www.econbiz.de/10010275924
Persistent link: https://www.econbiz.de/10013540273