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Author: Anthony O'Hagan
Publisher: John Wiley & Sons
ISBN: 0470033304
Category : Mathematics
Languages : en
Pages : 338
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Book Description
Elicitation is the process of extracting expert knowledge about some unknown quantity or quantities, and formulating that information as a probability distribution. Elicitation is important in situations, such as modelling the safety of nuclear installations or assessing the risk of terrorist attacks, where expert knowledge is essentially the only source of good information. It also plays a major role in other contexts by augmenting scarce observational data, through the use of Bayesian statistical methods. However, elicitation is not a simple task, and practitioners need to be aware of a wide range of research findings in order to elicit expert judgements accurately and reliably. Uncertain Judgements introduces the area, before guiding the reader through the study of appropriate elicitation methods, illustrated by a variety of multi-disciplinary examples. This is achieved by: Presenting a methodological framework for the elicitation of expert knowledge incorporating findings from both statistical and psychological research. Detailing techniques for the elicitation of a wide range of standard distributions, appropriate to the most common types of quantities. Providing a comprehensive review of the available literature and pointing to the best practice methods and future research needs. Using examples from many disciplines, including statistics, psychology, engineering and health sciences. Including an extensive glossary of statistical and psychological terms. An ideal source and guide for statisticians and psychologists with interests in expert judgement or practical applications of Bayesian analysis, Uncertain Judgements will also benefit decision-makers, risk analysts, engineers and researchers in the medical and social sciences.
Author: Anthony O'Hagan
Publisher: John Wiley & Sons
ISBN: 0470033304
Category : Mathematics
Languages : en
Pages : 338
Get Book Here
Book Description
Elicitation is the process of extracting expert knowledge about some unknown quantity or quantities, and formulating that information as a probability distribution. Elicitation is important in situations, such as modelling the safety of nuclear installations or assessing the risk of terrorist attacks, where expert knowledge is essentially the only source of good information. It also plays a major role in other contexts by augmenting scarce observational data, through the use of Bayesian statistical methods. However, elicitation is not a simple task, and practitioners need to be aware of a wide range of research findings in order to elicit expert judgements accurately and reliably. Uncertain Judgements introduces the area, before guiding the reader through the study of appropriate elicitation methods, illustrated by a variety of multi-disciplinary examples. This is achieved by: Presenting a methodological framework for the elicitation of expert knowledge incorporating findings from both statistical and psychological research. Detailing techniques for the elicitation of a wide range of standard distributions, appropriate to the most common types of quantities. Providing a comprehensive review of the available literature and pointing to the best practice methods and future research needs. Using examples from many disciplines, including statistics, psychology, engineering and health sciences. Including an extensive glossary of statistical and psychological terms. An ideal source and guide for statisticians and psychologists with interests in expert judgement or practical applications of Bayesian analysis, Uncertain Judgements will also benefit decision-makers, risk analysts, engineers and researchers in the medical and social sciences.
Author: Daniel Kahneman
Publisher: Cambridge University Press
ISBN: 9780521284141
Category : Psychology
Languages : en
Pages : 574
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Book Description
Thirty-five chapters describe various judgmental heuristics and the biases they produce, not only in laboratory experiments, but in important social, medical, and political situations as well. Most review multiple studies or entire subareas rather than describing single experimental studies.
Author: Reid Hastie
Publisher: SAGE
ISBN: 1412959039
Category : Business & Economics
Languages : en
Pages : 393
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Book Description
In the Second Edition of Rational Choice in an Uncertain World the authors compare the basic principles of rationality with actual behaviour in making decisions. They describe 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. The Second Edition includes: - more coverage on the role of emotions, happiness, and general well-being in decisions - a summary of the new research on the neuroscience of decision processes - more discussion of the adaptive value of (non-rational heuristics) - expansion of the graphics for decision trees, probability trees, and Venn diagrams.
Author: Laurence Tribe
Publisher: Macmillan
ISBN: 0805099093
Category : Law
Languages : en
Pages : 416
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Book Description
An assessment of how the Supreme Court under Chief Justice John Roberts is significantly influencing the nation's laws and reinterpreting the Constitution includes in-depth analysis of recent rulings and their implications.
Author: Thomas Gilovich
Publisher: Cambridge University Press
ISBN: 9780521796798
Category : Education
Languages : en
Pages : 884
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Book Description
This book, first published in 2002, compiles psychologists' best attempts to answer important questions about intuitive judgment.
Author: Anthony O'Hagan
Publisher: Wiley
ISBN: 9780470029992
Category : Mathematics
Languages : en
Pages : 338
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Book Description
Elicitation is the process of extracting expert knowledge about some unknown quantity or quantities, and formulating that information as a probability distribution. Elicitation is important in situations, such as modelling the safety of nuclear installations or assessing the risk of terrorist attacks, where expert knowledge is essentially the only source of good information. It also plays a major role in other contexts by augmenting scarce observational data, through the use of Bayesian statistical methods. However, elicitation is not a simple task, and practitioners need to be aware of a wide range of research findings in order to elicit expert judgements accurately and reliably. Uncertain Judgements introduces the area, before guiding the reader through the study of appropriate elicitation methods, illustrated by a variety of multi-disciplinary examples. This is achieved by: Presenting a methodological framework for the elicitation of expert knowledge incorporating findings from both statistical and psychological research. Detailing techniques for the elicitation of a wide range of standard distributions, appropriate to the most common types of quantities. Providing a comprehensive review of the available literature and pointing to the best practice methods and future research needs. Using examples from many disciplines, including statistics, psychology, engineering and health sciences. Including an extensive glossary of statistical and psychological terms. An ideal source and guide for statisticians and psychologists with interests in expert judgement or practical applications of Bayesian analysis, Uncertain Judgements will also benefit decision-makers, risk analysts, engineers and researchers in the medical and social sciences.
Author: Steven G. Vick
Publisher: ASCE Publications
ISBN: 0784470863
Category : Technology & Engineering
Languages : en
Pages : 469
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Book Description
Observing at a risk analysis conference for civil engineers that participants did not share a common language of probability, Vick, a consultant and geotechnic engineer, set out to not only examine why, but to also bridge the gap. He reexamines three elements at the core of engineering the concepts
Author: Daniel Reisberg
Publisher:
ISBN: 0195376749
Category : Medical
Languages : en
Pages : 1106
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Book Description
This handbook is an essential, comprehensive resource for students and academics interested in topics in cognitive psychology, including perceptual issues, attention, memory, knowledge representation, language, emotional influences, judgment, problem solving, and the study of individual differences in cognition.
Author: Camille Morvan
Publisher: CRC Press
ISBN: 1351350609
Category : Business & Economics
Languages : en
Pages : 93
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Book Description
Amos Tversky and Daniel Kahneman’s 1974 paper ‘Judgement Under Uncertainty: Heuristics and Biases’ is a landmark in the history of psychology. Though a mere seven pages long, it has helped reshape the study of human rationality, and had a particular impact on economics – where Tversky and Kahneman’s work helped shape the entirely new sub discipline of ‘behavioral economics.’ The paper investigates human decision-making, specifically what human brains tend to do when we are forced to deal with uncertainty or complexity. Based on experiments carried out with volunteers, Tversky and Kahneman discovered that humans make predictable errors of judgement when forced to deal with ambiguous evidence or make challenging decisions. These errors stem from ‘heuristics’ and ‘biases’ – mental shortcuts and assumptions that allow us to make swift, automatic decisions, often usefully and correctly, but occasionally to our detriment. The paper’s huge influence is due in no small part to its masterful use of high-level interpretative and analytical skills – expressed in Tversky and Kahneman’s concise and clear definitions of the basic heuristics and biases they discovered. Still providing the foundations of new work in the field 40 years later, the two psychologists’ definitions are a model of how good interpretation underpins incisive critical thinking.
Author: John Kay
Publisher: W. W. Norton & Company
ISBN: 1324004789
Category : Business & Economics
Languages : en
Pages : 407
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Book Description
Much economic advice is bogus quantification, warn two leading experts in this essential book, now with a preface on COVID-19. Invented numbers offer a false sense of security; we need instead robust narratives that give us the confidence to manage uncertainty. “An elegant and careful guide to thinking about personal and social economics, especially in a time of uncertainty. The timing is impeccable." — Christine Kenneally, New York Times Book Review Some uncertainties are resolvable. The insurance industry’s actuarial tables and the gambler’s roulette wheel both yield to the tools of probability theory. Most situations in life, however, involve a deeper kind of uncertainty, a radical uncertainty for which historical data provide no useful guidance to future outcomes. Radical uncertainty concerns events whose determinants are insufficiently understood for probabilities to be known or forecasting possible. Before President Barack Obama made the fateful decision to send in the Navy Seals, his advisers offered him wildly divergent estimates of the odds that Osama bin Laden would be in the Abbottabad compound. In 2000, no one—not least Steve Jobs—knew what a smartphone was; how could anyone have predicted how many would be sold in 2020? And financial advisers who confidently provide the information required in the standard retirement planning package—what will interest rates, the cost of living, and your state of health be in 2050?—demonstrate only that their advice is worthless. The limits of certainty demonstrate the power of human judgment over artificial intelligence. In most critical decisions there can be no forecasts or probability distributions on which we might sensibly rely. Instead of inventing numbers to fill the gaps in our knowledge, we should adopt business, political, and personal strategies that will be robust to alternative futures and resilient to unpredictable events. Within the security of such a robust and resilient reference narrative, uncertainty can be embraced, because it is the source of creativity, excitement, and profit.
