In the standard model of observational learning, n agents sequentially decide between two alternatives a or b, one of which is objectively superior. Their choice is based on a stoc...
Julian Lorenz, Martin Marciniszyn, Angelika Steger
Probability theory is the framework for making decision under uncertainty. In classification, Bayes' rule is used to calculate the probabilities of the classes and it is a bi...
Mohammed J. Islam, Q. M. Jonathan Wu, Majid Ahmadi...
To facilitate rational decision making regarding cyber security investments, decision makers need to be able to assess expected losses before and after potential investments. This...
Fast and frugal heuristics are well studied models of bounded rationality. Psychological research has proposed the take-the-best heuristic as a successful strategy in decision mak...
Companies in a variety of industries (e.g., airlines, hotels, theaters) often use last-minute sales to dispose of unsold capacity. Although this may generate incremental revenues ...
Kinshuk Jerath, Serguei Netessine, Senthil K. Veer...