Experimental Evidence of Deterministic Chaos in Human Decision Making Behavior (Classic Reprint) - Softcover

Sterman, John

9781332260256: Experimental Evidence of Deterministic Chaos in Human Decision Making Behavior (Classic Reprint)

Softcover

ISBN 10: 133226025X ISBN 13: 9781332260256

Verlag: Forgotten Books, 2018

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Excerpt from Experimental Evidence of Deterministic Chaos in Human Decision Making BehaviorAbout the PublisherForgotten Books publishes hundreds of thousands of rare and classic books.This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works. This text has been digitally restored from a historical edition. Some errors may persist, however we consider it worth publishing due to the work's historical value.The digital edition of all books may be viewed on our website before purchase.

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Excerpt from Experimental Evidence of Deterministic Chaos in Human Decision Making Behavior

Table 2. Summary of estimation results for 44 subjects. The ordering heuristic is given by 1-2. 0 determines the speed of adjustment of the demand forecast; or determines the response to inventory shortfalls; B is the fraction of the supply line accounted for by the.

About the Publisher

Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com

This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.

Rese�a del editor

Excerpt from Experimental Evidence of Deterministic Chaos in Human Decision Making Behavior

An experiment with a simulated microeconomic system demonstrates that the decision-making processes of human subjects can produce deterministic chaos. Participants managed a commodity production-distribution system to minimize costs. Performance, however, was systematically suboptimal. A model of the subjects' decision rule is proposed. Econometric estimates show the model is an excellent representation of the actual decisions. Simulation of the estimated rules yields stable, periodic, quasiperiodic, and chaotic solutions. Analysis of the parameter space reveals a complex structure including mode-locking, a devil's staircase, and fractal basin boundaries. Implications for modeling human systems are explored.

About the Publisher

Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com

This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.

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