Utility, games, and narratives
AbstractThis paper provides a general overview of theories and tools to model individual and collective decision-making. In particular, stress is laid on the interaction of several decision-makers. A substantial part of this paper is devoted to utility maximization and its application to collective decision-making, Game Theory. However, the pitfalls of utility maximization are thoroughly discussed, and the radically alternative approach of viewing decision-making as constructing narratives is presented with its emerging computational tools.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 16976.
Date of creation: 10 Aug 2009
Date of revision:
Interactions; Collective Decision-Making;
Find related papers by JEL classification:
- C79 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Other
- D79 - Microeconomics - - Analysis of Collective Decision-Making - - - Other
This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-08-30 (All new papers)
- NEP-CBE-2009-08-30 (Cognitive & Behavioural Economics)
- NEP-GTH-2009-08-30 (Game Theory)
- NEP-HPE-2009-08-30 (History & Philosophy of Economics)
- NEP-MIC-2009-08-30 (Microeconomics)
- NEP-NEU-2009-08-30 (Neuroeconomics)
- NEP-UPT-2009-08-30 (Utility Models & Prospect Theory)
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