Utility, games, and narratives

Fioretti, Guido (2009): Utility, games, and narratives.

Abstract

This paper provides a general overview of theories and tools to model individual and collective decision-making. In particular, stress is laid on the interaction of several decision-makers.

A substantial part of this paper is devoted to utility maximization and its application to collective decision-making, Game Theory. However, the pitfalls of utility maximization are thoroughly discussed, and the radically alternative approach of viewing decision-making as constructing narratives is presented with its emerging computational tools.

• Item Type: MPRA Paper
• Language: English
• Keywords: Interactions, Collective Decision-Making
• Subjects: C - Mathematical and Quantitative Methods > C7 - Game Theory and Bargaining Theory > C79 - Other; D - Microeconomics > D7 - Analysis of Collective Decision-Making > D79 - Other

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