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Recent studies have suggested that there may be a correlation between the order in which decision-makers collect … of risk participants take. This suggests that the choice architecture for real world risky decision making may have both …
Persistent link: https://www.econbiz.de/10012986368
We consider a standard one-agent decision-making problem under risk and we address the following question: under what … conditions is utility maximization equivalent to 'risk' minimization, where the measure of risk used by the decision-maker is a …
Persistent link: https://www.econbiz.de/10014263940
The major challenge of the 21st century is to achieve food security under, roughly, a doubling in food demand by 2050 compared to present, and producing the additional food under marked shifts in climatic risks and with environmentally sound farming practices. Sustainable intensification of...
Persistent link: https://www.econbiz.de/10011588710
Ever since the emergence of economics as a distinct scientific discipline, policy makers have turned to economic models to guide policy interventions. If policy makers seek to enhance growth of an open capitalist economy, they have to take into account, firstly, the uncertainties,...
Persistent link: https://www.econbiz.de/10011422415
Ever since the emergence of economics as a distinct scientific discipline, policy makers have turned to economic models to guide policy interventions. If policy makers seek to enhance growth of an open capitalist economy, they have to take into account, firstly, the uncertainties,...
Persistent link: https://www.econbiz.de/10011281255
transparency in decision making increasingly important for evidence-based policymakers. This paper demonstrates how the convergence … practical participatory decision support systems. An Agent Based Model of disease spread within a population (SIR model) is …
Persistent link: https://www.econbiz.de/10012961693
The rapid development of artificial intelligence methods contributes to their wide applications for forecasting various financial risks in recent years. This study introduces a novel explainable case-based reasoning (CBR) approach without a requirement of rich expertise in financial risk....
Persistent link: https://www.econbiz.de/10012584957
How will superhuman artificial intelligence (AI) affect human decision making? And what will be the mechanisms behind … associated with higher decision quality after the advent of superhuman AI. Our findings suggest that the development of … novel moves, which in turn may have improved their decision-making …
Persistent link: https://www.econbiz.de/10014359079
experimental drugs. Whatever decision criterion one uses, there is always some probability that random variation in trial outcomes … defers to standard care as the status quo. To evaluate decision criteria, we use the concept of near optimality, which … jointly considers the probability and magnitude of decision errors. An appealing decision criterion from this perspective is …
Persistent link: https://www.econbiz.de/10012831848