This book examines how people make decisions under risk and uncertainty in operational settings and opens the black box by specifying the cognitive processes that lead to human behavior. Drawing on economics, psychology and artificial intelligence, the book provides an innovative perspective on behavioral operations. It shows how to build optimization as well as heuristic models for describing human behavior and how to compare such models on various dimensions such as predictive power and transparency, as well as discussing interventions for improving human behavior. This book will be particularly valuable to academics and practitioners who seek to select a modeling approach that suits the operational decision at hand.
Table of Content
Introduction:
Why cognitive operations?.- Chapter 1:
Approaches to cognitive modelling.- Chapter 2:
Decisions under risk.- Chapter 3:
Strategic interactions.- Chapter 4:
Newsvendor problems.- Chapter 5:
Decisions under uncertainty.- Chapter 6:
Conclusions: The future of cognitive modelling is ahead.
About the author
Konstantinos V. Katsikopoulos is Professor of Behavioral Science at the University of Southampton, where he is the research director of the Business School. Previously, he was a visiting Assistant Professor at the Massachusetts Institute of Technology, Senior Research Scientist at the Max Planck Institute for Human Development and a German Science Foundation Fellow. Konstantinos is an internationally leading researcher in the interdisciplinary study of decision making, helping shape the field of behavioral operations research and chairing the behavioral group at the OR Society.
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