Complexity. In general individual decision makers must be assumed to have multidimensional values which attach nonmonetary subjective cost or value to (1) the process of making and executing individual or group decisions, (2) the end result of such decisions, and (3) the rewards (and perhaps behavior) of other individuals involved in the decision process.
Vernon L. SmithRelated topics
complexity cost end executing general making perhaps result value multidimensionalRelated quotes
Potential home buyers have a two-step decision process. First, they determine whether they can afford to make a purchase - does their income safely cover their mortgage payment? Then they determine whether owning is a better financial choice than renting - are the costs of owning a home lower than the cost of renting it?
Mark Zandi
The essence of a role-playing game is that it is a group, cooperative experience. There is no winning or losing, but rather the value is in the experience of imagining yourself as a character in whatever genre you're involved in, whether it's a fantasy game, the Wild West, secret agents or whatever else. You get to sort of vicariously experience those things.
Gary Gygax
Freedom brings responsibility and often guilt. It may indeed provide a deeper satisfaction and a richer life, but the evaluation of such rewards is a distressingly subjective process. Perhaps no argument in favor of liberty can satisfy the intellect; perhaps the best we can hope for is a shared emotional conviction.
Poul Anderson
Linear programming is viewed as a revolutionary development giving man the ability to state general objectives and to find, by means of the simplex method, optimal policy decisions for a broad class of practical decision problems of great complexity. In the real world, planning tends to be ad hoc because of the many special-interest groups with their multiple objectives.
George Dantzig
The history of a battle, is not unlike the history of a ball. Some individuals may recollect all the little events of which the great result is the battle won or lost, but no individual can recollect the order in which, or the exact moment at which, they occurred, which makes all the difference as to their value or importance...
Arthur Wellesley, 1st Duke of Wellington