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Computer Science in Economics and Management

, Volume 2, Issue 2, pp 119–149 | Cite as

A model of decision-making involving two information processors

  • Varghese S. Jacob
  • James C. Moore
  • Andrew Whinston
Article

Abstract

Two assumptions which are generally made in decision theory are: (a) all the information necessary for decision-making is available, and thus the decision problem reduces to utilizing the information to make the best decision possible, and (b) the decision-maker is human, and if he is assisted in decision-making, the assistance is provided by humans. In this paper, we propose a model which does not make either of these assumptions. In the model, we consider information acquisition to be an integral part of the decision problem. Moreover, we consider the issue of the human and computer working jointly towards solving decision problems. Thus, the model explicitly considers the issue of more than one agent's performing information-gathering actions. The model also considers the impact of a time constraint on decision-making.

Key words

Decision problem information-gathering efficient strategy uniformed action principle 

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Copyright information

© Kluwer Academic Publishers 1989

Authors and Affiliations

  • Varghese S. Jacob
    • 1
  • James C. Moore
    • 2
  • Andrew Whinston
    • 2
  1. 1.Faculty of Accounting and Management Information SystemsThe Ohio State UniversityColumbusUSA
  2. 2.Krannert Graduate School of Management and Department of Computer SciencePurdue UniversityWest LafayetteUSA

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