Rational Decision Making

This book is designed to support you in making difficult decisions in a more - tional way. Based on an established theoretical foundation, it shows that simple requirements concerning rational behavior lead to a general calculus of determ- ing optimal decision alternatives; the book then goes on to present methods and instruments useful for the practical implementation of these concepts. Psychological research has uncovered a multitude of systematic cognitive - ases associated with the intuitive decision process, especially concerning the f- mation of preferences and subjective probability judgments for uncertain events. These developments have elevated prescriptive decision theory to the status of an important discipline with increasingly strong practical ties - nowadays, even m- agers are concerned with decision trees, probability distributions and risk profiles. There is also a wide range of software available on the market to aid users with the use of the instruments. We would like to convince you, by help of the many pr- tical questions and case studies included with most chapters, that the material c- ered is not purely an academic diet but also of high practical nutritional value. The mindset suggested by the theory as an approach for decision problems will surely be of much use to you both in your private and professional life, even if you do not apply the presented methods of decision making support in every little - tail.

Author: Franz Eisenführ, Martin Weber, Thomas Langer
Publisher: Springer
Published: 09/01/2010
Pages: 447
Binding Type: Paperback
Weight: 1.45lbs
Size: 9.00h x 6.10w x 1.00d
ISBN13: 9783642028502
ISBN10: 3642028500
BISAC Categories:
- Business & Economics | Operations Research
- Psychology | Industrial & Organizational Psychology

About the Author
Franz Eisenführ Jahrgang 1936. Studium der Volkswirtschaftslehre in Kiel, Berlin und München. Diplom-Volkswirt und Dr. sc. pol. in Kiel. Professor für Allgemeine Betriebswirtschaftslehre an der RWTH Aachen 1974 bis 1991, an der Universität zu Köln 1991 bis 2002. Arbeitsgebiete: Entscheidungstheorie, Investitionstheorie. Martin Weber Jahrgang 1952. Studium der Mathematik und Betriebswirtschaftslehre in Mainz und Aachen. Promotion zum Dr. rer. pol. 1981, Habilitation 1988. Professor für Allgemeine Betriebswirtschaftslehre, Finanzwirtschaft, insb. Bankbetriebslehre an der Universität Mannheim. Arbeitsgebiete: Entscheidungsforschung, Bankbetriebslehre und Kapitalmarktforschung. Thomas Langer Jahrgang 1966. Studium der Mathematik in Kiel und Lawrence, Kansas. Promotion zum Dr. rer. pol. 1998 und Habilitation 2004, jeweils in Mannheim. Seit 2004 Inhaber des Lehrstuhls für Finanzierung an der Westfälischen Wilhelms-Universität Münster. Arbeitsgebiete: Behavioral Finance, Experimentelle Wirtschaftsforschung, Entscheidungsanalyse.