Institute of Information Theory and Automation

NIPS 2016 Workshop

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An international workshop in conjunction with the 30th Annual Conference on Neural Information Processing Systems (NIPS 2016)

IMPERFECT DECISION MAKERS: ADMITTING REAL-WORLD RATIONALITY

December 9, 2016, Barcelona, Spain

The prescriptive Bayesian theory of decision making (DM) under uncertainty has reached a high level of maturity. The assumption that the decision maker is rational (i.e. that they optimize expected utility, in Savage's formulation) is central to this theory. However, empirical research indicates that this central assumption is often violated by real decision makers. This limits the ability of the prescriptive Bayesian theory to provide a descriptive theory of the real world. One of the reasons that have been proposed for why the assumption of rationality might be violated by real decision makers is the limited cognitive and computational resources of those decision makers. This workshop intends to inspect this core assumption and to consider possible ways to modify or complement it.

More information can be found at the workshop page http://www.utia.cz/imperfectDM

Responsible for information: AS
Last modification: 06.10.2016
Institute of Information Theory and Automation