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Behavioral economics aspires to replace the agents of neoclassical economics with living, breathing human beings. Here, the author argues that behavioral economics, like its neoclassical counterpart, often neglects the role of active sense-making that motivates and guides much human behavior....
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Behavioral economics characterizes decision-makers using psychologically-informed models. Cognitive science produces psychologically-informed models. Why don't these disciplines talk more? Here, the author presents several arguments for why cognitive science should inform behavioral economics -...
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This paper presents opportunities for applying von Neumann – Morgenstern utility function as an instrument for choosing an alternative to overcome crisis of the organization. Choice between fuzzy triangular alternatives by means of definite (crisp) von Neumann – Morgenstern utility function...
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Modern strategic decision theory focuses on those actions taken by senior executives (on behalf of the owners) that commit substantial resources, set precedents, and create waves of less important decisions. This chapter explores key behavioral assumptions that dispute the notion that strategic...
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dominance as a way to derive a set of non-dominated portfolios and robust individual alternatives. Our approach departs from the … tradition of providing a single recommended portfolio; rather, it derives a group of good portfolios. The belief dominance … how the belief dominance concept can reveal portfolios and alternatives that would otherwise remain uncovered. …
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