Rational decision making

Publisher's description: ``Describes basic concepts of rational decision making and decision analysis to the reader -- offers insights that help to systematically analyze decision making problems in professional and private life and helps the reader to come up with a problem solution based on a higher degree of rationality -- updating/inclusion of current research, in-depth discussion of selected topics, additional exercises/case studies. This textbook conveys methods that can improve decision making processes in various fields such as economics, politics, and medicine as well as in personal life. Areas of focus are decision making under conflicting objectives, decision making under risk and uncertainty, decision making with incomplete information about individual preferences or probabilities, and the consideration of time preferences. Special emphasis is placed on the procedures and concepts applicability. Explicit sample applications show the methods benefit for a wide area of decision making problems. Exercises from daily life make it easy for the reader to understand the key insights from decision analysis."" \par This English edition corresponds to the 5th German one. Hence this book is close to completeness. Yet in this reviewer's opinion there are two comments: First a section with hints on the problems for solution is needed. Second a comparison with decision making in animals may be useful since recently [{\it D. Sumpter}, Collective animal behavior. Princeton Univ. Press (2010)] it was shown that collective animal behavior is highly efficient.