Common Models of Individual Decision-Making in Economics
Decision-making models in economics are simplified descriptions of how decisions are made. Understanding these models is useful for designing decision governance.
When Is Decision Governance Needed?
How can you tell if there is a need to do anything to influence how decisions are made, that is, to govern decisions? If any of the following apply, then it is worth investing effort to improve how decisions are made.
Can an Artificial Intelligence System Decide Autonomously?
To say that something is able to decide requires that it is able to conceive more than the single course of action in a situation where it is triggered to act, that it can compare these alternative courses of action prior to choosing one, and that it likes one over all others as a result…
Requirements Satisfaction as Expected Utility Maximization
What are the implications of seeing requirements satisfaction as a case of utility maximization? Expected Utility Theory is the mainstream framework (or, at least the one taught first) in economics for conceptualizing rational decision making. Can the problem of satisfying some given set of requirements be translated into that framework? What, if anything, is gained…
Approaches to Requirements Satisfaction
Given a set of requirements to satisfy, and assuming they can be satisfied together, are we always aiming to find the solution that maximizes the level of satisfaction of all these requirements? Maximization of satisfaction, or more generally, finding an optimal solution to given requirements, is a common way of thinking about what we want…