383. Some Results from Behavioural Economics
Invited abstract in session TE-1: Ulrike Leopold-Wildburger, stream Plenaries.
Tuesday, 16:30-17:30Room: Great Hall
Authors (first author is the speaker)
| 1. | Ulrike Leopold-Wildburger
|
| Department of Operations and Information Systems, University of Graz |
Abstract
While methods of OR represent the field of a science for delivering better decisions using optimal or near-optimal solutions to complex decision-making problems our actual behavior in practical applications quite often have to deal with non-fully rational decision makers. We try to make aware the tension between the two scopes and we will support this research by some examples.
Coming from the field of OR we are always aware that techniques such as mathematical modeling, statistical analysis, and mathematical optimization are engaged in applications of advanced analytical methods with the aim to make better decisions. However, in everyday life OR is not executed in its pure version but often connected with other fields and disciplines, as psychology and behavioral sciences, microeconomics and even nowadays integrating neuroscience.
Some characteristic examples from the field of game theory will be prepared and checked with the actual behavior of decision makers in specific economic situations. We will deal with topics as cooperation and fairness as well with dynamic systems and we will try to compare theoretical concepts with empirical data. We will try to understand and explain some specific situations with the help of some experimental studies.
Keywords
- Economic Modeling
- Behavioural OR
Status: accepted
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