Prescriptive Bayesian decision making has reached a high level of maturity supported by efficient, theoretically well-founded algorithms. While the long-standing problem of participant's rationality is addressed repeatedly, limited cognitive, acting and evaluative abilities/resources of participants involved have not been considered systematically. This problem of so-called imperfect decision makers emerges repeatedly, for instance, i) consistent theory of incomplete Bayesian games cannot be applied by them; ii) a desirable incorporation of deliberation effort into the design of decision strategies remains unsolved.
Societal, biological, engineered systems exhibit paradigms that can extend the scope of existing knowledge in prescriptive decision making. Societal and natural sciences and partially technology have considered imperfection aspects at the descriptive level. In particular, a broadly studied emerging behaviour resulting from descriptive properties of interacting imperfect decision makers can be exploited at prescriptive decision making. The goal of this workshop is to explore such connections between descriptive and prescriptive decision making and stimulate an exchange the results and ideas. The workshop will foster discussion of bounded-rationality and imperfection of decision-makers in light of Nature. We believe that in long-term perspective, the workshop will contribute to solution of the problems:
A. How to formalise rational decision making of an imperfect participant?
B. How to create a feasible prescriptive theory, which respects an imperfect participant?
C. How to extend/modify existing feasible prescriptive theories to imperfect decision-makers?
This topic spans both theoretical issues and the development of effective algorithms and it is closely related to the problem of control under varying/uncertain resources' constraints and to the problem of decision-making cost.
The workshop aims to bring together different scientific communities, to brainstorm on possible research directions, and to encourage collaboration among researchers with complementary ideas and expertise. The workshop will be based on invited talks, contributed talks and posters. Extensive moderated and informal discussions ensure targeted exchange.
Miroslav Karny (Institute of Information Theory and Automation)
Tatiana V. Guy (Institute of Information Theory and Automation)
David H Wolpert (Santa Fe Institute)
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