TY - JOUR
T1 - Seeking a realistic way of individual decision making
AU - Matsumoto, Yasumi
PY - 2007
Y1 - 2007
N2 - In this paper, we try to introduce a realistic way of individual decision making based on the Japanese way of thinking, which may make up for the defect of today's popular decision-making methods that heavily depend on the logic of the Western way of thinking, typically shown in Arrow's impossibility theorem. The presented way of individual decision making is realistic because it follows people's actual choice procedure; it is also a promising way in the reconsideration of Arrow's framework and the result from a different direction. We compare the Western and the Japanese ways of thinking in detail in this paper because the sharp difference between them is expected to give the reader new hints for the creative development of decision-making methods.
AB - In this paper, we try to introduce a realistic way of individual decision making based on the Japanese way of thinking, which may make up for the defect of today's popular decision-making methods that heavily depend on the logic of the Western way of thinking, typically shown in Arrow's impossibility theorem. The presented way of individual decision making is realistic because it follows people's actual choice procedure; it is also a promising way in the reconsideration of Arrow's framework and the result from a different direction. We compare the Western and the Japanese ways of thinking in detail in this paper because the sharp difference between them is expected to give the reader new hints for the creative development of decision-making methods.
KW - Arrow's general possibility theorem
KW - Collective choice theory
KW - Dynamic decision making
KW - Individual preference relation
KW - Japanese way of thinking
KW - Western way of thinking
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U2 - 10.1504/GBER.2007.013697
DO - 10.1504/GBER.2007.013697
M3 - Article
AN - SCOPUS:34250815135
SN - 1097-4954
VL - 9
SP - 126
EP - 150
JO - Global Business and Economics Review
JF - Global Business and Economics Review
IS - 2-3
ER -