Decision Making under Uncertainty

Know about the book -

Decision Making under Uncertainty is written by Kerstin Preuschoff and published by Frontiers Media SA. It's available with International Standard Book Number or ISBN identification 2889194663 (ISBN 10) and 9782889194667 (ISBN 13).

Most decisions in life are based on incomplete information and have uncertain consequences. To successfully cope with real-life situations, the nervous system has to estimate, represent and eventually resolve uncertainty at various levels. A common tradeoff in such decisions involves those between the magnitude of the expected rewards and the uncertainty of obtaining the rewards. For instance, a decision maker may choose to forgo the high expected rewards of investing in the stock market and settle instead for the lower expected reward and much less uncertainty of a savings account. Little is known about how different forms of uncertainty, such as risk or ambiguity, are processed and learned about and how they are integrated with expected rewards and individual preferences throughout the decision making process. With this Research Topic we aim to provide a deeper and more detailed understanding of the processes behind decision making under uncertainty.