Title :
Decision rationality analysis and comparison of bounded perception choice behaviour
Author :
Wang, Qing ; Zhao, Yong ; Yang, Chen
Author_Institution :
Dept. of Syst. Eng., Huazhong Univ. of Sci. & Technol., Wuhan
Abstract :
The classical decision theory is based on the assumption that rational decision makers have full perceptibility. But real-life people always have bounded perceptibility. After reviewing some important results of the classical decision theory, this article describes a kind of bounded perceptual phenomenon between interrelated sub-problems of a complicated problem and established bounded perceptual relation system and local relation system separately for intrinsic preferences and revealed preferences of decision makers. Based on these relation systems, we discuss the rational conditions of consistency between choice functions and intrinsic preferences under several particular binary orders. The conclusion can be used to explain actual decision phenomenon and to design reasoning regulation.
Keywords :
cognition; decision making; decision theory; binary order; bounded perceptibility; bounded perception choice behaviour; choice functions; decision rationality analysis; decision theory; intrinsic preference; local relation system; perceptual relation system; rational decision making; reasoning regulation; revealed preference; Decision theory; Choice Function; Decision Rationality Bounded Perceptibility; Revealed Preferences;
Conference_Titel :
Control and Decision Conference, 2008. CCDC 2008. Chinese
Conference_Location :
Yantai, Shandong
Print_ISBN :
978-1-4244-1733-9
Electronic_ISBN :
978-1-4244-1734-6
DOI :
10.1109/CCDC.2008.4597834