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Rational Decision and Risk Analysis and Irrational Human Behavior

In: AI-ML for Decision and Risk Analysis

Author

Listed:
  • Louis Anthony Cox Jr.

    (Cox Associates and University of Colorado)

Abstract

Findings from behavioral economics experiments and brain imaging studies in people and other primates and investigations of the interplay between emotions, attention, learning, and cognitive decision-making, are entering the main stream of popular science expositions and shedding new light on what it means to be human. How and why humans exhibit unreasonably effective cooperation and altruism is being illuminated by such experiments and by the speculations of evolutionary psychologists, leading to exciting progress in understanding what kinds of improvements may be possible in individual, group, organizational, and societal risk management. This chapter reviews this progress in understanding of rational, non-rational, social, and moral thinking in deciding how to manage risks and make decisions under uncertainty as a prelude to considering how human and artificial intelligence may be used to improve such decision-making in the future.

Suggested Citation

  • Louis Anthony Cox Jr., 2023. "Rational Decision and Risk Analysis and Irrational Human Behavior," International Series in Operations Research & Management Science, in: AI-ML for Decision and Risk Analysis, chapter 0, pages 3-35, Springer.
    • Handle: RePEc:spr:isochp:978-3-031-32013-2_1
    DOI: 10.1007/978-3-031-32013-2_1
    as

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