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The Experience is (Not) Everything: Sequential Outcomes and Social Decision-Making 体验是(不是)一切:顺序结果和社会决策
Philosophy of Action eJournal Pub Date : 2020-10-16 DOI: 10.2139/ssrn.3699529
J. Buckenmaier, Eugen Dimant
{"title":"The Experience is (Not) Everything: Sequential Outcomes and Social Decision-Making","authors":"J. Buckenmaier, Eugen Dimant","doi":"10.2139/ssrn.3699529","DOIUrl":"https://doi.org/10.2139/ssrn.3699529","url":null,"abstract":"In multiple pre-registered experiments, we examine the effect of sequences of positive and negative experiences on altruism, trust, trustworthiness, and cooperation. For non-social experiences, we find no effect on subsequent behavior in any of these social domains. However, when experiences are social in nature we find more cooperation after gains than after losses. For neutral experiences with gains equalizing losses, we find no evidence for a differential effect of experiences irrespective of whether the experience is social or not. Our findings are in line with recent evidence on decision making under risk showing that the effect of prior experiences depends on task similarity. Beyond that, we extend these findings to various forms of social decision making. Our results suggest that the overall valence of an experience (gain or loss) matters, whereas its dynamic trend (improving or deteriorating) does not.","PeriodicalId":299964,"journal":{"name":"Philosophy of Action eJournal","volume":"118 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-10-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134106682","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 3
Zum Praktischen Anwendungsnutzen Der Entscheidungstheorie (About the Practical Application of Decision Theory) 关于决策理论的实际应用
Philosophy of Action eJournal Pub Date : 2019-02-28 DOI: 10.2139/SSRN.3344640
Ruediger von Nitzsch, Florian Methling
{"title":"Zum Praktischen Anwendungsnutzen Der Entscheidungstheorie (About the Practical Application of Decision Theory)","authors":"Ruediger von Nitzsch, Florian Methling","doi":"10.2139/SSRN.3344640","DOIUrl":"https://doi.org/10.2139/SSRN.3344640","url":null,"abstract":"German Abstract: Die Entscheidungslehre ist die anwendungsorientierte, praskriptive Richtung der Entscheidungstheorie, die fur wichtige Entscheidungsprobleme wertvolle Hilfe liefert. Empfohlen wird ein Entscheidungsprozess in drei Schritten: (1) Strukturierung der Entscheidungssituation, (2) Entwicklung eines Wirkungsmodells und (3) Evaluation der Handlungsalternativen. In diesem Beitrag werden die wesentlichen Inhalte dieser Schritte skizziert. Von besonderer Bedeutung fur die Qualitat der Entscheidung ist eine reflektierte Analyse der Ziele im ersten Schritt auf der Basis des Value-focused Thinking und eine darauf aufbauende kreative Herangehensweise bei der Identifikation von Handlungsalternativen. Hingewiesen wird ebenfalls auf die Notwendigkeit, durch Debiasing den Einfluss typischer Schatzfehler und Verzerrungsfaktoren auf die Wirkungsprognosen zu verringern. Nach den theoretischen Ausfuhrungen schliest der Beitrag mit Hinweisen, wie sich die Vorgehensweise mit Hilfe eines Online-Tools konkret zur Losung praktischer Entscheidungsfragen umsetzen lasst. \u0000 \u0000English Abstract: Decision analysis is the application-oriented, prescriptive direction of decision theory, which provides valuable help for important decision problems. A decision process in three steps is recommended: (1) Structuring the decision frame, (2) developing an impact model, and (3) evaluating the alternatives. This paper outlines the main contents of these steps. A well reflected analysis of the objectives based on value-focused thinking and a creative approach to the identification of alternatives based on this analysis are of particular importance for the quality of the decision. Furthermore, the necessity to reduce the influence of typical estimation errors and distortion factors on impact prognoses through debiasing is pointed out. Hence, the paper concludes on how the approach can be implemented with the help of an online tool to solve practical decision questions.","PeriodicalId":299964,"journal":{"name":"Philosophy of Action eJournal","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-02-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129947918","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Geometric Dispersion Theory for Decisions Under Risk: Accurate Out-of-Sample Predictions and Four Distinct Behavioral Patterns 风险下决策的几何离散理论:准确的样本外预测和四种不同的行为模式
Philosophy of Action eJournal Pub Date : 2018-06-05 DOI: 10.2139/SSRN.3193116
B. Malakooti
{"title":"Geometric Dispersion Theory for Decisions Under Risk: Accurate Out-of-Sample Predictions and Four Distinct Behavioral Patterns","authors":"B. Malakooti","doi":"10.2139/SSRN.3193116","DOIUrl":"https://doi.org/10.2139/SSRN.3193116","url":null,"abstract":"We illustrate that the central failures of Expected Utility, Rank-Dependent Expected Utility, and Cumulative Prospect Theory models are caused by ignoring dispersions of prospects. Mean-variance considers dispersion but it violates first-order stochastic dominance, is symmetric, and cannot explain risk. Geometric Dispersion Theory (GDT) is based on new asymmetric dispersion measures that overcome the above limitations. To provide an intuitive perspective of GDT, suppose that the Decision-Maker arbitrates the risk solutions of three independent and competing agents. The first agent is extremely risk averse. The second agent is extremely risk prone, and the third agent is risk neutral. There is no solution that satisfies these three agents. The decision maker chooses the best compromise solution. GDT provides simple explanations for the most credible experimental data and accurately predicts out-of-sample behaviors. GDT can generalize Expected Utility, Rank-Dependent Expected Utility, Cumulative Prospect Theory, and Mean-Variance models.","PeriodicalId":299964,"journal":{"name":"Philosophy of Action eJournal","volume":"85 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-06-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131163898","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Ambiguity Preferences and Portfolio Choices: Evidence from the Field 歧义偏好和投资组合选择:来自实地的证据
Philosophy of Action eJournal Pub Date : 2017-11-07 DOI: 10.1287/mnsc.2017.3006
Milo Bianchi, J. Tallon
{"title":"Ambiguity Preferences and Portfolio Choices: Evidence from the Field","authors":"Milo Bianchi, J. Tallon","doi":"10.1287/mnsc.2017.3006","DOIUrl":"https://doi.org/10.1287/mnsc.2017.3006","url":null,"abstract":"We match administrative panel data on portfolio choices with survey data on preferences over ambiguity. We show that ambiguity averse investors bear more risk, due to a lack of diversification. In ...","PeriodicalId":299964,"journal":{"name":"Philosophy of Action eJournal","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-11-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133447776","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 45
Expected Comparative Utility Theory 期望比较效用理论
Philosophy of Action eJournal Pub Date : 2017-08-21 DOI: 10.2139/ssrn.2984382
David Robert
{"title":"Expected Comparative Utility Theory","authors":"David Robert","doi":"10.2139/ssrn.2984382","DOIUrl":"https://doi.org/10.2139/ssrn.2984382","url":null,"abstract":"This paper proposes a new theory of rational choice. Contra standard decision theory, this paper roughly argues that an agent should rank her choice options (in terms of how choiceworthy they are) according to their expected comparative utility. For any number of alternative options, a, b, c, d and e, the expected comparative utility of a is the probability-weighted average of the differences in utility between a and b, c, d or e across the various states – that is, for each state, the difference in utility between a and whichever of b, c, d and e carries the greatest utility in that state. In a number of ordinary decision cases, ECU Theory gives different verdicts from those of EU Theory.","PeriodicalId":299964,"journal":{"name":"Philosophy of Action eJournal","volume":"109 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-08-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115685215","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Glitch Studies and the Ambiguous Objectivity of Algorithms 故障研究与算法的模糊客观性
Philosophy of Action eJournal Pub Date : 2017-03-31 DOI: 10.2139/ssrn.2985424
D. Kolkman, Jakko Kemper
{"title":"Glitch Studies and the Ambiguous Objectivity of Algorithms","authors":"D. Kolkman, Jakko Kemper","doi":"10.2139/ssrn.2985424","DOIUrl":"https://doi.org/10.2139/ssrn.2985424","url":null,"abstract":"Algorithms play an increasingly central part in our societies. The impact of these quantification objects extends beyond our everyday interactions with information technology. Algorithms contribute to the evidence-base that underpins organisational decision-making of public and private sector organisations. The decisions that algorithms help inform may guide the allocation of substantial resources and consequentially deeply affect the lives of people across the globe. Algorithms are perceived as the state-of-the art and fulfil a desire to overcome inefficiencies in the decision-making process by employing the best available information. Despite their veneer of objectivity, algorithms are as much as art as they are science. We discuss the role of algorithms in organisational decision-making from a glitch studies perspective. We demonstrate that algorithms are not as objective as they are generally held to be, that their operations transcend human cognition, and conclude that glitch studies offer a valuable perspective to describe, understand, and critique the role of algorithms.","PeriodicalId":299964,"journal":{"name":"Philosophy of Action eJournal","volume":"25 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-03-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126663650","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Evolution of Mindsight and Psychological Commitment among Strategically Interacting Agents 战略互动主体的思维视域与心理承诺演化
Philosophy of Action eJournal Pub Date : 2016-09-01 DOI: 10.2139/ssrn.2104432
Dimitry Rtischev
{"title":"Evolution of Mindsight and Psychological Commitment among Strategically Interacting Agents","authors":"Dimitry Rtischev","doi":"10.2139/ssrn.2104432","DOIUrl":"https://doi.org/10.2139/ssrn.2104432","url":null,"abstract":"We study the evolution of strategic psychological capabilities in a population of interacting agents. Specifically, we consider agents which are either blind or with mindsight, and either transparent or opaque. An agent with mindsight can observe the psychological makeup of a transparent agent, i.e., its logic, emotions, commitments and other elements that determine how it chooses actions. A blind agent cannot observe and opaque agents cannot be observed. Our assumption that mindsight and transparency are costly and optional exposes a middle ground between standard game theory without mindsight and evolution of preferences theory with obligatory and costless mindsight. We show that the only evolutionarily stable monomorphic population is one in which all agents are blind, opaque, and act-rational. We find that mindsight, transparency, and rule-rational commitments may evolve, albeit only in a portion of the population that fluctuates in size over generations. We reexamine the Ultimatum and Trust games in light of our findings and demonstrate that an evolved population of agents can differ significantly from a population of simplistic payoff-maximizers in terms of psychological traits and economic outcomes.","PeriodicalId":299964,"journal":{"name":"Philosophy of Action eJournal","volume":"26 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132087633","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Inconclusive Quantum Measurements and Decisions under Uncertainty 不确定性下的非结论性量子测量和决策
Philosophy of Action eJournal Pub Date : 2016-04-16 DOI: 10.3389/fphy.2016.00012
V. Yukalov, D. Sornette
{"title":"Inconclusive Quantum Measurements and Decisions under Uncertainty","authors":"V. Yukalov, D. Sornette","doi":"10.3389/fphy.2016.00012","DOIUrl":"https://doi.org/10.3389/fphy.2016.00012","url":null,"abstract":"We give a mathematical definition for the notion of inconclusive quantum measurements. In physics, such measurements occur at intermediate stages of a complex measurement procedure, with the final measurement result being operationally testable. Since the mathematical structure of Quantum Decision Theory has been developed in analogy with the theory of quantum measurements, the inconclusive quantum measurements correspond, in Quantum Decision Theory, to intermediate stages of decision making in the process of taking decisions under uncertainty. The general form of the quantum probability for a composite event is the sum of a utility factor, describing a rational evaluation of the considered prospect, and of an attraction factor, characterizing irrational, subconscious attitudes of the decision maker. Despite the involved irrationality, the probability of prospects can be evaluated. This is equivalent to the possibility of calculating quantum probabilities without specifying hidden variables. We formulate a general way of evaluation, based on the use of non-informative priors. As an example, we suggest the explanation of the decoy effect. Our quantitative predictions are in very good agreement with experimental data.","PeriodicalId":299964,"journal":{"name":"Philosophy of Action eJournal","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-04-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130476452","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 9
Garbage Can Model NetLogo Implementation 垃圾桶模型NetLogo实现
Philosophy of Action eJournal Pub Date : 2016-02-16 DOI: 10.2139/ssrn.2732985
I. Smarzhevskiy
{"title":"Garbage Can Model NetLogo Implementation","authors":"I. Smarzhevskiy","doi":"10.2139/ssrn.2732985","DOIUrl":"https://doi.org/10.2139/ssrn.2732985","url":null,"abstract":"It is reconstruction of the original FORTRAN code of the classical M. Cohen, J. March, and J. Olsen \"garbage can model\" (GCM or CMO) of collective decision-making by means of NetLogo.The concept of GCM is decision making, which resolve Problems. Problems have Energy Required (ER) for their decision, Managers (decision makers) have Effective Energy (EE) for the decisions generation. The place of decision-making is the Choice Opportunities (Choices) -- abstraction of committees, consul boards and so on.The Choices and Problems open randomly. The Problems activated by two items and Choices by one item per step of modeling (tick) in first half of modelling time. All Managers are ready for action from first modelling step. Problems and Managers access to Choices in according with system structure. There is three types of Problems access to Choices and three types of Managers access to Choices.Presented model literally reproduces the original logic of GCM (with one exception: the equal effective energy distribution between managers assumed).","PeriodicalId":299964,"journal":{"name":"Philosophy of Action eJournal","volume":"144 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-02-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127486368","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Neural Mechanisms of the Postdecisional Spreading-of-Alternatives Effect: EEG Study 决策后选择扩散效应的神经机制:脑电图研究
Philosophy of Action eJournal Pub Date : 2015-12-08 DOI: 10.2139/ssrn.2700656
M. Colosio, A. Shestakova, V. Nikulin, A. Shpektor, V. Klucharev
{"title":"Neural Mechanisms of the Postdecisional Spreading-of-Alternatives Effect: EEG Study","authors":"M. Colosio, A. Shestakova, V. Nikulin, A. Shpektor, V. Klucharev","doi":"10.2139/ssrn.2700656","DOIUrl":"https://doi.org/10.2139/ssrn.2700656","url":null,"abstract":"Cognitive dissonance theory suggests that our preferences are modulated by the mere act of choosing. According to the cognitive dissonance theory, a choice between two similarly valued alternatives creates a psychological tension (cognitive dissonance) that is reduced by a post-decisional re-evaluation of the alternatives – the post-decisional spreading-of-alternatives effect – the chosen item being later evaluated more positively and the rejected item more negatively. Previous neuroimaging studies indicated a central role of the medial prefrontal cortex in cognitive dissonance. In this work, we used electroencephalography to investigate a similarity of neural mechanisms underlying postdecisional preference change and general performance monitoring mechanisms. Our study demonstrates that decisions, associated with stronger cognitive dissonance, trigger a stronger negative fronto-central evoked response similar to the error-related negativity (ERN). Furthermore, the amplitude of ERN correlated with the post-decisional spreading-of-alternatives effect. ERN has been previously associated with incorrect responses and a general performance monitoring mechanism. Thus, our results suggest that cognitive dissonance can be reflected in the activity of the medial prefrontal cortex as a part of the general performance-monitoring circuitry","PeriodicalId":299964,"journal":{"name":"Philosophy of Action eJournal","volume":"36 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-12-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128174191","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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