Rational Choice in an Uncertain World: The Psychology of Judgement and Decision Making (Paperback)

~ Professor Reid Hastie (Author), Dr. Robyn M. Dawes (Author) "Humans evolved from ancestors hundreds of thousands of years ago who lived in small groups and spent most of their waking hours foraging for sustenance..." (more)
Key Phrases: good things satiate, solvability axiom, arteriography test, New York, Amos Tversky, Daniel Kahneman (more...)

Editorial Reviews

Review

"Concise text that resonates with students." (Eric J. Michel )

Product Description

When faced with an important decision, we are often on our own to think through what we might do and what the probable consequences of out behaviors are. As we make these judgments, it is important that we be able to communicate precisely and fluently with one another. In Rational Choice in an Uncertain World, renowned authors Hastie and Dawes compare the basic principles of rationality with actual behavior in making decisions. They describe theories and research finding 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.

In this volume, you’ll find:

• New, student-friendly chapter introductions and conclusions
• Practical, everyday examples from the fields of finance, medicine, law and engineering
• Comprehensive, up-to-date information keeping pace with changing ideas within the field
• Additional discussion of the descriptive, psychological models of decision making to expand upon the original emphasis on normative, rational, expected utility models 

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Product Details

• Paperback: 392 pages
• Publisher: Sage Publications, Inc; 1 edition (June 15, 2001)
• Language: English
• ISBN-10: 076192275X
• ISBN-13: 978-0761922759
• Product Dimensions: 5.9 x 3.2 x 0.5 inches
• Shipping Weight: 1.6 pounds (View shipping rates and policies)
• Average Customer Review: 4.5 out of 5 stars  See all reviews (6 customer reviews)
• Amazon.com Sales Rank: #356,759 in Books (See Bestsellers in Books)

Customer Reviews

Most Helpful Customer Reviews

16 of 16 people found the following review helpful:

4.0 out of 5 stars An interesting read, January 14, 2003

By	"phoenix830" (Chatham, NJ USA) - See all my reviews

I read this book as part of a college course on cognition. It was defintely the most interesting of the 3 books we read in this class.

The book effectively teaches you how to go about making well-thought-out decisions. The text in itself is easy to read and comprehend. There are also many apt examples, both abstract and from everyday life. This combination ensures a successful reading of this book.

While I would have probably never read this book if not for the class I took, I'm glad I did and would recommend this people from all walks of life. Being able to make a good, well-thought-out, rational decision is the best skill one can have.

11 of 11 people found the following review helpful:

5.0 out of 5 stars A must for all Decision Analysis Consultants, November 5, 2001

By	"cagrier" (Chicago, IL) - See all my reviews

As a management consultant working with clients to make higher quality decisions, I have made many observations of how people (especially executives and groups) make business decisions. But observing how they make decisions is different than "why" they decide what they decide. This book provides so much insight into the "why" it is definitely worth the reading. While the book is very valuable on the "why" it is a little dated on state of the art analytic decision techniques. But with that said, I would highly recommend this book to any consultant (OE, OD, DA, etc.) working with individuals or groups where decisions are being made.

10 of 10 people found the following review helpful:

5.0 out of 5 stars A great update to a classic, July 27, 2002

By A Customer

The addition of Reid Hastie as an author to Robyn Dawes' classic text on judgment and decision making was superb choice. This edition appears to be written very much in Hastie's voice, from the perspective of a cognitive psychologist. Moreover, we find additional attention paid to algebraic models, which was something that was missing from previous editions. Hastie and Dawes ranks as one of the essential readings for the judgment and decision-making field.