In this step, we want to show you how decision processes can be modelled without using utilities and weights. The models presented below are known in the literature as heuristics. …
Classical choice theory is very abstract. It does not pay attention to many aspects that the social sciences found to be important in human decision-making, such as time-pressure, importance of …
In this video we discuss the limitations of multi-attribute decision making, and reflect on how we make decisions in reality. Suppose you are making a decision to follow a certain …
Multi-Attribute Decision Analysis tells us how to make a decision when the question at hand is complex and has multiple consequences. It was not devised to describe how actual people …
In this week we experienced how simple models on norms and information sharing can produce interesting phenomena. Next week we explore how more theories can be integrated in simulations, and …
Classical choice theory was originally thought to be a descriptive theory. Descriptive theories are built to describe how people make decisions. For example, what do people choose, what happens with …
In this step, we will introduce a simple tool that is used for creating and carrying out simulations called NetLogo. You have already seen that even with simple models of …
In this video we discuss the normative sensitivity of people and how to model that. It is being explained that people are heterogeneous concerning their sensitivity for norms. Moreover, similarity …
In the previous video, we said that utilities are just numbers chosen to represent preferences revealed by people’s choices. We can say that utilities are models of preferences or models …
In this video we discuss the sociality of people. We will discuss the principles of social learning, imitation, norms and conformity.In the following exercise, we want you to consider how …
Why on earth should we replicate humans in computational models, whilst there are actually almost eight billion real people we can study? And indeed, in the social sciences a lot …
Welcome to the course Decision making in a Complex World. Within the next three weeks, you will be exploring how human decision making can be represented in computer simulations. We …