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A Science of Decision Making - The Legacy of Ward Edwards (Hardcover)
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A Science of Decision Making - The Legacy of Ward Edwards (Hardcover)
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Ward Edwards is well known as the father of behavioral decision
making. In his 1954 Psychological Bulletin paper on decision
making, he brought psychological ideas into what had been the
province of economists. His influence in this realm is so pervasive
that the Nobel committee was able to trace a direct path from
Edwards's work to Daniel Kahneman's 2002 Prize for prospect theory.
In a 1963 Psychological Review paper, Edwards brought Bayesian
statistics to the attention of psychologists, who have continued to
proliferate Bayesian ideas, underscoring the importance of the
perspective. In a 1962 IEEE paper, Edwards foresaw how the world of
intelligence gathering and analysis could by transformed by systems
in which humans provided (subjective) probabilities and machines
provided computational power. He also showed, in a 1986 book
written with Detlof von Winterfeldt, how multiattribute utility
analysis could help real-world decision makers generate
satisfactory solutions to complex problems.
In this book, 29 of Ward Edwards's most important published papers
are reprinted, a selection that spans six decades, allowing the
reader to see how this strikingly creative thinker generated many
of the ideas that are now core beliefs among current researchers.
It is perhaps less well known that Edwards continued to make
substantial contributions during the years after his retirement.
Illness reduced his public appearances, but he continued his
incisive thinking behind the scenes. At the time of his passing, he
was involved in several projects, and seven new papers from these
projects were completed for this book by his last set of
collaborators.
Edwards's papers are a treat to read. His prose is the model of
elegant simplicity, yet full of style and wit. With each paper, the
editors have included a short introduction that presents Edwards's
reflections on the content or impact of the older papers, or
describes the creation of the new ones. Obituaries written by
former students and colleagues flesh out the human side of this
remarkable scholar.
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