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2434. Behavioral Decision Analysis
Invited abstract in session TA-11: Behavioral Decision Analysis IV, stream Behavioural OR.
Tuesday, 8:30-10:00Room: 12 (building: 116)
Authors (first author is the speaker)
| 1. | Gilberto Montibeller
|
| Business School, KFUPM | |
| 2. | Florian Federspiel
|
| Quantitative Methods and Analytics, INCAE Business School | |
| 3. | Matthias Seifert
|
| Operations & Technology, IE Business School |
Abstract
This presentation lays out a foundation and taxonomy for Behavioral Decision Analysis, which can unify this work across various domains. Traditional research in the domain of Decision Analysis has focused on the design and application of logically consistent tools to support decision-makers during the process of structuring problem complexity, modeling uncertainty, generating predictions, eliciting preferences, and, ultimately, making better decisions. Two commonly held assumptions are that the decision maker’s cognitive belief system is fully accessible and that this system can be understood and formalized by trained analysts. However, in past years, an active line of research has emerged studying instances in which such assumptions may not hold. We aim to unite this community under the common theme of Behavioral Decision Analysis. The taxonomy we suggest categorizes research based on task focus (prediction or decision) and behavioral level (individual or group). Two theoretical lenses that lie at the interface between (1) normative and descriptive research, and (2) normative and prescriptive research are introduced. We then proceed to highlight representative works across the two lenses focused on individual and group-level decision-making.
Keywords
- Decision Analysis
- Behavioural OR
- Group Decision Making and Negotiation
Status: accepted
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