Stock photo: cover may vary
Consumer Optimization Problem Solving Hardback - 2014
by Alfred L Norman,
- New
A$168.28
A$5.86
Delivery within USA
Standard delivery: 2 to 14 days
More delivery options
Standard delivery: 2 to 14 days
Ships from GreatBookPrices (Maryland, United States)
Details
- Title Consumer Optimization Problem Solving
- Author Alfred L Norman,
- Binding Hardback
- Condition New
- Pages 252
- Volumes 1
- Language ENG
- Publisher World Scientific Publishing Company
- Publication date 2014-12-26
- Bookseller's Inventory # 23084055-n
- ISBN 9789814635288 / 9814635286
- Weight 1.11 lbs (0.50 kg)
- Dimensions 9 x 6 x 0.63 in (22.86 x 15.24 x 1.60 cm)
-
Themes
- Aspects (Academic): Business Aspects
- Category Business / Economics / Finance
- Library of Congress Catalogue Number 2014039632
- Dewey Decimal Code 658.403
- Quantity available 5
About GreatBookPrices Maryland, United States
Biblio member since 2024
Since 1991, we have worked every day to serve our customers with state-of-the-art technology and world class service. We are dedicated to providing customers around the world with the widest selection of books, DVDs, and CDs at the absolute lowest price.
Reader reviews for Consumer Optimization Problem Solving
Write a review for this book
Important Terms and Guidelines
- Please focus on the book’s content and context. Also, add any personal comments as to how you enjoyed the book. Substantiate your likes and dislikes. You may make comparisons to other books.
- Reviews must be at least 140 characters in length.
- Please do not reveal critical plot elements.
- This is not a help line. Contact customer support if you need help.
Your review must not include:
- Obscenities, discriminatory language, or other insulting language not suitable for public domain
- Advertisements, “spam” content, or references to other products, offers or websites.
- Email addresses, URLs, phone numbers, physical addresses or other contact information.
- Overly critical comments about other reviews or reviewers
- Time-sensitive material (i.e. promotional tours, seminars, lectures, etc.)
- Availability, price, or alternative ordering/shipping information
From the publisher
From the jacket flap
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.
