Consumer optimization problem solving /:
What algorithms are tractable depends on the speed of the processor. Given the speed of digital computers, polynomial algorithms are considered tractable. But, a human can take several seconds to make one binary comparison between two pens. Given this slow speed, sublinear algorithms are considered...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
New Jersey :
World Scientific,
[2015]
|
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | What algorithms are tractable depends on the speed of the processor. Given the speed of digital computers, polynomial algorithms are considered tractable. But, a human can take several seconds to make one binary comparison between two pens. Given this slow speed, sublinear algorithms are considered tractable for an unaided human and this defines Simon's concept of bounded rationality. Humans make simplifications to solve the intractable consumer optimization problem. Consumers search for goods and services item-by-item, which greatly reduces the number of alternatives to consider. In addition, consumers have operators that can process a set in a single operation. Also, consumers budget by incremental adjustment. In considering consumer performance the question to ask is how close to optimal is consumer performance and not whether consumers optimize as a yes/no question. Given the ordinal nature of utility theory this creates a basic measurement problem. The book presents a review of the literature on consumer performance. This is an opportune time to study consumer procedures because the Internet provides a media to make substantial improvements in consumer performance. The book includes a case study comparing the performance of a digital camera selection code with the advice of sales people. A field experiment demonstrates that the software code provides better advice. |
| Beschreibung: | 1 online resource |
| Bibliographie: | Includes bibliographical references and index. |
| ISBN: | 9789814635295 9814635294 |
Internformat
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| 100 | 1 | |a Norman, A. L. |q (Alfred L.) |0 http://id.loc.gov/authorities/names/n88634224 | |
| 245 | 1 | 0 | |a Consumer optimization problem solving / |c Alfred L Norman, the University of Texas at Austin, USA. |
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| 264 | 4 | |c ©2015 | |
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| 504 | |a Includes bibliographical references and index. | ||
| 505 | 0 | |a Preface -- Acknowledgement -- Introduction -- Computational complexity -- Ordering -- Computational complexity : decision rules -- Repeated price search -- Repeated item search : forecasting -- Budgeting -- How close to optimal? -- Improving consumer performance -- Appendix A CC of the discrete two-stage budgeting problem -- Bibliography -- Index. | |
| 588 | 0 | |a Print version record. | |
| 520 | |a What algorithms are tractable depends on the speed of the processor. Given the speed of digital computers, polynomial algorithms are considered tractable. But, a human can take several seconds to make one binary comparison between two pens. Given this slow speed, sublinear algorithms are considered tractable for an unaided human and this defines Simon's concept of bounded rationality. Humans make simplifications to solve the intractable consumer optimization problem. Consumers search for goods and services item-by-item, which greatly reduces the number of alternatives to consider. In addition, consumers have operators that can process a set in a single operation. Also, consumers budget by incremental adjustment. In considering consumer performance the question to ask is how close to optimal is consumer performance and not whether consumers optimize as a yes/no question. Given the ordinal nature of utility theory this creates a basic measurement problem. The book presents a review of the literature on consumer performance. This is an opportune time to study consumer procedures because the Internet provides a media to make substantial improvements in consumer performance. The book includes a case study comparing the performance of a digital camera selection code with the advice of sales people. A field experiment demonstrates that the software code provides better advice. | ||
| 650 | 0 | |a Consumer behavior |x Econometric models. | |
| 650 | 0 | |a Consumption (Economics) |x Econometric models. | |
| 650 | 6 | |a Consommateurs |x Comportement |x Modèles économétriques. | |
| 650 | 7 | |a BUSINESS & ECONOMICS |x Industrial Management. |2 bisacsh | |
| 650 | 7 | |a BUSINESS & ECONOMICS |x Management. |2 bisacsh | |
| 650 | 7 | |a BUSINESS & ECONOMICS |x Management Science. |2 bisacsh | |
| 650 | 7 | |a BUSINESS & ECONOMICS |x Organizational Behavior. |2 bisacsh | |
| 650 | 7 | |a Consumer behavior |x Econometric models |2 fast | |
| 650 | 7 | |a Consumption (Economics) |x Econometric models |2 fast | |
| 776 | 0 | 8 | |i Print version: |a Norman, A.L. (Alfred L.). |t Consumer optimization problem solving |z 9789814635288 |w (DLC) 2014039632 |w (OCoLC)898051972 |
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Datensatz im Suchindex
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| _version_ | 1816796917285257216 |
| adam_text | |
| any_adam_object | |
| author | Norman, A. L. (Alfred L.) |
| author_GND | http://id.loc.gov/authorities/names/n88634224 |
| author_facet | Norman, A. L. (Alfred L.) |
| author_role | |
| author_sort | Norman, A. L. |
| author_variant | a l n al aln |
| building | Verbundindex |
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| collection | ZDB-4-EBU |
| contents | Preface -- Acknowledgement -- Introduction -- Computational complexity -- Ordering -- Computational complexity : decision rules -- Repeated price search -- Repeated item search : forecasting -- Budgeting -- How close to optimal? -- Improving consumer performance -- Appendix A CC of the discrete two-stage budgeting problem -- Bibliography -- Index. |
| ctrlnum | (OCoLC)900633243 |
| dewey-full | 658.4/03 |
| dewey-hundreds | 600 - Technology (Applied sciences) |
| dewey-ones | 658 - General management |
| dewey-raw | 658.4/03 |
| dewey-search | 658.4/03 |
| dewey-sort | 3658.4 13 |
| dewey-tens | 650 - Management and auxiliary services |
| discipline | Wirtschaftswissenschaften |
| format | Electronic eBook |
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| id | ZDB-4-EBU-ocn900633243 |
| illustrated | Not Illustrated |
| indexdate | 2024-11-26T14:49:18Z |
| institution | BVB |
| isbn | 9789814635295 9814635294 |
| language | English |
| oclc_num | 900633243 |
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| publishDateSearch | 2015 |
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| spelling | Norman, A. L. (Alfred L.) http://id.loc.gov/authorities/names/n88634224 Consumer optimization problem solving / Alfred L Norman, the University of Texas at Austin, USA. New Jersey : World Scientific, [2015] ©2015 1 online resource text txt rdacontent computer c rdamedia online resource cr rdacarrier Includes bibliographical references and index. Preface -- Acknowledgement -- Introduction -- Computational complexity -- Ordering -- Computational complexity : decision rules -- Repeated price search -- Repeated item search : forecasting -- Budgeting -- How close to optimal? -- Improving consumer performance -- Appendix A CC of the discrete two-stage budgeting problem -- Bibliography -- Index. Print version record. What algorithms are tractable depends on the speed of the processor. Given the speed of digital computers, polynomial algorithms are considered tractable. But, a human can take several seconds to make one binary comparison between two pens. Given this slow speed, sublinear algorithms are considered tractable for an unaided human and this defines Simon's concept of bounded rationality. Humans make simplifications to solve the intractable consumer optimization problem. Consumers search for goods and services item-by-item, which greatly reduces the number of alternatives to consider. In addition, consumers have operators that can process a set in a single operation. Also, consumers budget by incremental adjustment. In considering consumer performance the question to ask is how close to optimal is consumer performance and not whether consumers optimize as a yes/no question. Given the ordinal nature of utility theory this creates a basic measurement problem. The book presents a review of the literature on consumer performance. This is an opportune time to study consumer procedures because the Internet provides a media to make substantial improvements in consumer performance. The book includes a case study comparing the performance of a digital camera selection code with the advice of sales people. A field experiment demonstrates that the software code provides better advice. Consumer behavior Econometric models. Consumption (Economics) Econometric models. Consommateurs Comportement Modèles économétriques. BUSINESS & ECONOMICS Industrial Management. bisacsh BUSINESS & ECONOMICS Management. bisacsh BUSINESS & ECONOMICS Management Science. bisacsh BUSINESS & ECONOMICS Organizational Behavior. bisacsh Consumer behavior Econometric models fast Consumption (Economics) Econometric models fast Print version: Norman, A.L. (Alfred L.). Consumer optimization problem solving 9789814635288 (DLC) 2014039632 (OCoLC)898051972 FWS01 ZDB-4-EBU FWS_PDA_EBU https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=942161 Volltext |
| spellingShingle | Norman, A. L. (Alfred L.) Consumer optimization problem solving / Preface -- Acknowledgement -- Introduction -- Computational complexity -- Ordering -- Computational complexity : decision rules -- Repeated price search -- Repeated item search : forecasting -- Budgeting -- How close to optimal? -- Improving consumer performance -- Appendix A CC of the discrete two-stage budgeting problem -- Bibliography -- Index. Consumer behavior Econometric models. Consumption (Economics) Econometric models. Consommateurs Comportement Modèles économétriques. BUSINESS & ECONOMICS Industrial Management. bisacsh BUSINESS & ECONOMICS Management. bisacsh BUSINESS & ECONOMICS Management Science. bisacsh BUSINESS & ECONOMICS Organizational Behavior. bisacsh Consumer behavior Econometric models fast Consumption (Economics) Econometric models fast |
| title | Consumer optimization problem solving / |
| title_auth | Consumer optimization problem solving / |
| title_exact_search | Consumer optimization problem solving / |
| title_full | Consumer optimization problem solving / Alfred L Norman, the University of Texas at Austin, USA. |
| title_fullStr | Consumer optimization problem solving / Alfred L Norman, the University of Texas at Austin, USA. |
| title_full_unstemmed | Consumer optimization problem solving / Alfred L Norman, the University of Texas at Austin, USA. |
| title_short | Consumer optimization problem solving / |
| title_sort | consumer optimization problem solving |
| topic | Consumer behavior Econometric models. Consumption (Economics) Econometric models. Consommateurs Comportement Modèles économétriques. BUSINESS & ECONOMICS Industrial Management. bisacsh BUSINESS & ECONOMICS Management. bisacsh BUSINESS & ECONOMICS Management Science. bisacsh BUSINESS & ECONOMICS Organizational Behavior. bisacsh Consumer behavior Econometric models fast Consumption (Economics) Econometric models fast |
| topic_facet | Consumer behavior Econometric models. Consumption (Economics) Econometric models. Consommateurs Comportement Modèles économétriques. BUSINESS & ECONOMICS Industrial Management. BUSINESS & ECONOMICS Management. BUSINESS & ECONOMICS Management Science. BUSINESS & ECONOMICS Organizational Behavior. Consumer behavior Econometric models Consumption (Economics) Econometric models |
| url | https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=942161 |
| work_keys_str_mv | AT normanal consumeroptimizationproblemsolving |