548. Behavioral Decision Analysis: Theoretical lenses and behavioral levels
Invited abstract in session MB-61: Advances in behavioral decision analysis 1, stream Behavioural OR.
Monday, 10:30-12:00Room: Maurice Keyworth G.31
Authors (first author is the speaker)
| 1. | Gilberto Montibeller
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| Business School, University of Bristol | |
| 2. | Florian Federspiel
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| Quantitative Methods and Analytics, INCAE Business School | |
| 3. | Matthias Seifert
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| Operations & Technology, IE Business School | |
| 4. | Detlof von Winterfeldt
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| Industrial and Systems Engineering, University of Southern California |
Abstract
Decision Analysis has traditionally been about the design and application of logically consistent tools to support decision makers in structuring problem complexity, modeling uncertainty, generating predictions, eliciting preferences, and making better decisions. This approach operates under the assumptions that the decision makers’ cognitive belief system is fully accessible and can be understood and formalized by trained analysts. However, a new line of research has emerged, challenging these assumptions: Behavioral Decision Analysis. To provide a clear structure in this complex field, we propose a framework that categorizes research based on task focus (prediction or decision) and behavioral level (individual or group). To study these issues, we employ two theoretical lenses: Descriptive Behavioral Decision Research and Prescriptive Behavioral Decision Research.
Keywords
- Decision Analysis
- Behavioural OR
- Decision Theory
Status: accepted
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