Name
Abstract | ||
|---|---|---|
This paper presents psychological research that can help people make better decisions. Decision analysts typically: 1) elicit outcome probabilities; 2) assess attribute weights; and 3) suggest the option with the highest overall value. Decision analysis can be challenging because of environmental and psychological issues. Fast and frugal methods such as natural frequency formats, frugal multiattribute models, and fast and frugal decision trees can address these issues. Not only are the methods fast and frugal, but they can also produce results that are surprisingly close to or even better than those obtained by more extensive analysis. Apart from raising awareness of these findings among engineers, the authors also call for further research on the application of fast and frugal methods to decision analysis |
Year | DOI | Venue |
|---|---|---|
2006 | 10.1109/TSMCA.2006.871798 | Systems, Man and Cybernetics, Part A: Systems and Humans, IEEE Transactions |
Keywords | Field | DocType |
decision making,environmental factors,psychology,decision analysts,environmental issues,frugal multiattribute models,natural frequency formats,outcome probabilities,psychological issues,Adaptive decision making,decision analysis,fast and frugal heuristics,fast and frugal trees,natural frequency formats | Decision analysis,Decision tree,Computer science,Psychological research,Management science | Journal |
Volume | Issue | ISSN |
36 | 5 | 1083-4427 |
Citations | PageRank | References |
24 | 1.77 | 8 |
Authors | ||
2 | ||
Name | Order | Citations | PageRank |
|---|---|---|---|
| Konstantinos V. Katsikopoulos | 1 | 73 | 9.68 |
| Barbara Fasolo | 2 | 59 | 3.92 |