How Long to Read Consumer Optimization Problem Solving

How Long Does it Take to Read Consumer Optimization Problem Solving?

It takes the average reader 4 hours and 14 minutes to read Consumer Optimization Problem Solving by Alfred L Norman

Assuming a reading speed of 250 words per minute. Learn more

Description

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. Contents:IntroductionComputational ComplexityOrderingComputational Complexity: Decision RulesRepeated Price SearchRepeated Item Search: ForecastingRepeated Item Search: ChoiceBudgetingHow Close to Optimal?Improving Consumer PerformanceAppendix: CC of the Discrete Two-Stage Budgeting Problem Readership: Students at postgraduate level and academics researching theoretical, computational, behavioural and experimental economics with a specific focus on consumer behaviour, decision making, and optimization. Keywords:Microeconomics;Consumer Behaviour;Consumer Optimization;Decision Making

How long is Consumer Optimization Problem Solving?

Consumer Optimization Problem Solving by Alfred L Norman is 252 pages long, and a total of 63,504 words.

This makes it 85% the length of the average book. It also has 78% more words than the average book.

How Long Does it Take to Read Consumer Optimization Problem Solving Aloud?

The average oral reading speed is 183 words per minute. This means it takes 5 hours and 47 minutes to read Consumer Optimization Problem Solving aloud.

What Reading Level is Consumer Optimization Problem Solving?

Consumer Optimization Problem Solving is suitable for students ages 12 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

Where Can I Buy Consumer Optimization Problem Solving?

Consumer Optimization Problem Solving by Alfred L Norman is sold by several retailers and bookshops. However, Read Time works with Amazon to provide an easier way to purchase books.

To buy Consumer Optimization Problem Solving by Alfred L Norman on Amazon click the button below.