Rational Choice in an Uncertain World
The Psychology of Judgment and Decision Making
- Reid Hastie - University of Chicago, School of Business
- Robyn M. Dawes - Carnegie Mellon University, Pittsburgh, USA
"The authors are highly respected as leading figures in the field of judgment and decision making. There are many existing books on topics related to judgment and decision making, but this book makes a unique contribution to this field because of its systematic and scholarly approach, and its breadth of coverage."
—Robert Goldstone, Indiana University
"Reid Hastie and Robyn Dawes are two of the most eminent researchers in the field. I know these authors to be excellent writers and I have no doubt that their writing style will be suitable for my students."
—William Goldstein, University of Chicago
In the new edition of this award-winning text, renowned authors Reid Hastie and Robyn Dawes compare and contrast the basic principles of rationality with actual behavior in making decisions. This book explores theories and research findings from the field of judgment and decision making in a non-technical manner, using anecdotes as a teaching device. Intended as an introductory textbook for advanced undergraduate and graduate students, the material not only is of scholarly interest but is practical as well.
New to This Edition
- Chapter introductions, conclusions, and cross-references between chapters make the text more student friendly
- An abundance of examples from areas such as finance, medicine, law, and engineering anchor concepts to the real world
- Increased consideration of descriptive, psychological models of decision making augment the original emphasis on normative, rational, "Expected Utility Theory" models, bring the book up to date
- Balance among the three major approaches to judgment and decision making: cognitive psychological analyses of mental processes and heuristics, descriptive algebraic models of judgment and decision processes, and rational models of decision making
Great text, covered the major areas of DM literature and very accessible. Reasonable price
This is a very well-written and well-structured book. It is essential for students who want to know more about the psychology of judgement and decision-making. I will definitely recommend it to my students, although I'm not sure whether I will subscribe it as compulsary material.
Very interesting book for complementing essential course texts
Book is very well written and provides ample clarification on topics. Clear and concise with elaboration on selected topics without "mudding" the content learning.
This book is a very nice introduction to the field of judgment and decision making. I will use the book to give some context on the field for a hands-on experimenting course. The book is particularly well suited for beginning students as the authors, two well known figures of the field, make an effort to explain the major theories in an easy and non-technical way.
A very useful book for new and advanced readers in this area.
The book covers the needs of my course,
Some of the information from this book proves useful in the current course, but will be used more extensively in the revalidated course from 2012 onwards
this is a great book as a recommended reading to support students in the understanding of the topic area regarding leadership and management decision making for my level 2 module and also leadership and change at level 3 undergraduate.
excellent book, only too big for this course in communication. it may be useful in another course i have
Sample Materials & Chapters
Chapter 1 - Thinking and Deciding
Chapter 3 - A General Framework for Judgment