Analyzing Test-Taking Behavior: Decision Theory Meets Psychometric Theory.

Science.gov (United States)

Budescu, David V; Bo, Yuanchao

2015-12-01

We investigate the implications of penalizing incorrect answers to multiple-choice tests, from the perspective of both test-takers and test-makers. To do so, we use a model that combines a well-known item response theory model with prospect theory (Kahneman and Tversky, Prospect theory: An analysis of decision under risk, Econometrica 47:263-91, 1979). Our results reveal that when test-takers are fully informed of the scoring rule, the use of any penalty has detrimental effects for both test-takers (they are always penalized in excess, particularly those who are risk averse and loss averse) and test-makers (the bias of the estimated scores, as well as the variance and skewness of their distribution, increase as a function of the severity of the penalty).

Some Links Between Game Theory and Decision Theory in Economics

OpenAIRE

Dominika Crnjac; Goran Martinovic

2009-01-01

Certain optimal strategies based upon game theory are given in this paper. A decision-making function and a risk function are explained. Decision-making criteria are applied for determining best decision-making functions with respect to a specific criterion. Special attention is given to the minimax criterion.

Decision Utility Theory: Back to von Neumann, Morgenstern, and Markowitz

OpenAIRE

Kontek, Krzysztof

2010-01-01

Prospect Theory (1979) and its Cumulative version (1992) argue for probability weighting to explain lottery choices. Decision Utility Theory presents an alternative solution, which makes no use of this concept. The new theory distinguishes decision and perception utility, postulates a double S-shaped decision utility curve similar to one hypothesized by Markowitz (1952), and applies the expected decision utility value similarly to the theory by von Neumann and Morgenstern (1944). Decision Uti...

Interference and inequality in quantum decision theory

International Nuclear Information System (INIS)

Cheon, Taksu; Takahashi, Taiki

2010-01-01

The quantum decision theory is examined in its simplest form of two-condition two-choice setting. A set of inequalities to be satisfied by any quantum conditional probability describing the decision process is derived. Experimental data indicating the breakdown of classical explanations are critically examined with quantum theory using the full set of quantum phases.

Interference and inequality in quantum decision theory

Energy Technology Data Exchange (ETDEWEB)

Cheon, Taksu, E-mail: taksu.cheon@kochi-tech.ac.j [Laboratory of Physics, Kochi University of Technology, Tosa Yamada, Kochi 782-8502 (Japan); Takahashi, Taiki, E-mail: ttakahashi@lynx.let.hokudai.ac.j [Laboratory of Social Psychology, Department of Behavioral Science, Faculty of Letters, Hokkaido University, N.10, W.7, Kita-ku, Sapporo 060-0810 (Japan)

2010-12-01

The quantum decision theory is examined in its simplest form of two-condition two-choice setting. A set of inequalities to be satisfied by any quantum conditional probability describing the decision process is derived. Experimental data indicating the breakdown of classical explanations are critically examined with quantum theory using the full set of quantum phases.

The design of patient decision support interventions: addressing the theory-practice gap.

Science.gov (United States)

Elwyn, Glyn; Stiel, Mareike; Durand, Marie-Anne; Boivin, Jacky

2011-08-01

Although an increasing number of decision support interventions for patients (including decision aids) are produced, few make explicit use of theory. We argue the importance of using theory to guide design. The aim of this work was to address this theory-practice gap and to examine how a range of selected decision-making theories could inform the design and evaluation of decision support interventions. We reviewed the decision-making literature and selected relevant theories. We assessed their key principles, theoretical pathways and predictions in order to determine how they could inform the design of two core components of decision support interventions, namely, information and deliberation components and to specify theory-based outcome measures. Eight theories were selected: (1) the expected utility theory; (2) the conflict model of decision making; (3) prospect theory; (4) fuzzy-trace theory; (5) the differentiation and consolidation theory; (6) the ecological rationality theory; (7) the rational-emotional model of decision avoidance; and finally, (8) the Attend, React, Explain, Adapt model of affective forecasting. Some theories have strong relevance to the information design (e.g. prospect theory); some are more relevant to deliberation processes (conflict theory, differentiation theory and ecological validity). None of the theories in isolation was sufficient to inform the design of all the necessary components of decision support interventions. It was also clear that most work in theory-building has focused on explaining or describing how humans think rather than on how tools could be designed to help humans make good decisions. It is not surprising therefore that a large theory-practice gap exists as we consider decision support for patients. There was no relevant theory that integrated all the necessary contributions to the task of making good decisions in collaborative interactions. Initiatives such as the International Patient Decision Aids Standards

Academic decision making and prospect theory.

Science.gov (United States)

Mowrer, Robert R; Davidson, William B

2011-08-01

Two studies are reported that investigate the applicability of prospect theory to college students' academic decision making. Exp. 1 failed to provide support for the risk-seeking portion of the fourfold pattern predicted by prospect theory but did find the greater weighting of losses over gains. Using a more sensitive dependent measure, in Exp. 2 the results of the first experiment were replicated in terms of the gain-loss effect and also found some support for the fourfold pattern in the interaction between probabilities and gain versus loss. The greatest risk-seeking was found in the high probability loss condition.

Proxy decision making and dementia: Using Construal Level Theory to analyse the thoughts of decision makers.

Science.gov (United States)

Convey, Helen; Holt, Janet; Summers, Barbara

2018-03-08

This study explored the feasibility of using Construal Level Theory to analyse proxy decision maker thinking about a hypothetical ethical dilemma, relating to a person who has dementia. Proxy decision makers make decisions on behalf of individuals who are living with dementia when dementia affects that individual's decision making ability. Ethical dilemmas arise because there is a need to balance the individual's past and contemporary values and views. Understanding of how proxy decision makers respond is incomplete. Construal Level Theory contends that individuals imagine reactions and make predications about the future by crossing psychological distance. This involves abstract thinking, giving meaning to decisions. There is no empirical evidence of Construal Level Theory being used to analyse proxy decision maker thinking. Exploring the feasibility of using Construal Level Theory to understand dementia carer thinking regarding proxy decisions may provide insights which inform the support given. Descriptive qualitative research with semi-structured interviews. Seven participants were interviewed using a hypothetical dementia care scenario in February 2016. Interview transcripts were analysed for themes. Construal Level Theory was applied to analyse participant responses within themes using the Linguistic Category Model. Participants travelled across psychological distance, using abstract thinking to clarify goals and provide a basis for decisions. When thinking concretely participants established boundaries regarding the ethical dilemma. Construal Level Theory gives insight into proxy decision maker thinking and the levels of abstraction used. Understanding what dementia carers think about when making proxy decisions may help nurses to understand their perspectives and to provide appropriate support. © 2018 John Wiley & Sons Ltd.

Advances in the application of decision theory to test-based decision making

NARCIS (Netherlands)

van der Linden, Willem J.

This paper reviews recent research in the Netherlands on the application of decision theory to test-based decision making about personnel selection and student placement. The review is based on an earlier model proposed for the classification of decision problems, and emphasizes an empirical

Decision-oriented environmental assessment: An empirical study of its theory and methods

International Nuclear Information System (INIS)

Pischke, Frederik; Cashmore, Matthew

2006-01-01

The potential advantages of a decision-oriented theory of environmental assessment have long been recognised, but it is only in recent years that this topic has received concerted attention. This research advanced contemporary debate on environmental assessment through an empirically-informed evaluation of strategic theoretical and methodological issues associated with the practical application of decision-oriented theory. This was undertaken by critically analysing the decision-oriented Environmental Impact Assessment system of the German Development Cooperation (a bilateral development assistance agency) using a modified version of a recent conceptual and methodological development, Analytical Strategic Environmental Assessment. The results indicate that some aspects of decision-oriented theory offer considerable potential for environmental assessment process management, and should be employed routinely. Yet uncertainty remains about whether certain core concepts, notably the detailed a priori description of decision processes, can be achieved in practice. The analysis also indicates that there is considerably more common ground in many contemporary debates about environmental assessment than the literature, which has tended towards polarisation suggests. The significance of this research is that it recognises and highlights the contribution of decision-oriented theory to refocusing attention on the substantive intent of this globally significant policy tool

Scoring and Classifying Examinees Using Measurement Decision Theory

Directory of Open Access Journals (Sweden)

Lawrence M. Rudner

2009-04-01

Full Text Available This paper describes and evaluates the use of measurement decision theory (MDT to classify examinees based on their item response patterns. The model has a simple framework that starts with the conditional probabilities of examinees in each category or mastery state responding correctly to each item. The presented evaluation investigates: (1 the classification accuracy of tests scored using decision theory; (2 the effectiveness of different sequential testing procedures; and (3 the number of items needed to make a classification. A large percentage of examinees can be classified accurately with very few items using decision theory. A Java Applet for self instruction and software for generating, calibrating and scoring MDT data are provided.

Prospect theory or construal level theory? Diminishing sensitivity vs. psychological distance in risky decisions.

Science.gov (United States)

Trautmann, Stefan T; van de Kuilen, Gijs

2012-01-01

Attitudes toward risks are central to organizational decisions. These attitudes are commonly modeled by prospect theory. Construal level theory has been proposed as an alternative theory of risky choice, accounting for psychological distance deriving from temporal, spatial and social aspects of risk that are typical of agency situations. Unnoticed in the literature, the two theories make contradicting predictions. The current study investigates which theory provides a better description of risky decisions in the presence of temporal, spatial, and social factors. We find that the psychophysical effects modeled by prospect theory dominate the psychological distance effects of construal level theory. Copyright © 2011 Elsevier B.V. All rights reserved.

Generation companies decision-making modeling by linear control theory

International Nuclear Information System (INIS)

Gutierrez-Alcaraz, G.; Sheble, Gerald B.

2010-01-01

This paper proposes four decision-making procedures to be employed by electric generating companies as part of their bidding strategies when competing in an oligopolistic market: naive, forward, adaptive, and moving average expectations. Decision-making is formulated in a dynamic framework by using linear control theory. The results reveal that interactions among all GENCOs affect market dynamics. Several numerical examples are reported, and conclusions are presented. (author)

From conditional oughts to qualitative decision theory

Science.gov (United States)

Pearl, Judea

1994-01-01

The primary theme of this investigation is a decision theoretic account of conditional ought statements (e.g., 'You ought to do A, if C') that rectifies glaring deficiencies in classical deontic logic. The resulting account forms a sound basis for qualitative decision theory, thus providing a framework for qualitative planning under uncertainty. In particular, we show that adding causal relationships (in the form of a single graph) as part of an epistemic state is sufficient to facilitate the analysis of action sequences, their consequences, their interaction with observations, their expected utilities, and the synthesis of plans and strategies under uncertainty.

Bayesian decision theory : A simple toy problem

NARCIS (Netherlands)

van Erp, H.R.N.; Linger, R.O.; van Gelder, P.H.A.J.M.

2016-01-01

We give here a comparison of the expected outcome theory, the expected utility theory, and the Bayesian decision theory, by way of a simple numerical toy problem in which we look at the investment willingness to avert a high impact low probability event. It will be found that for this toy problem

Modeling Adversaries in Counterterrorism Decisions Using Prospect Theory.

Science.gov (United States)

Merrick, Jason R W; Leclerc, Philip

2016-04-01

Counterterrorism decisions have been an intense area of research in recent years. Both decision analysis and game theory have been used to model such decisions, and more recently approaches have been developed that combine the techniques of the two disciplines. However, each of these approaches assumes that the attacker is maximizing its utility. Experimental research shows that human beings do not make decisions by maximizing expected utility without aid, but instead deviate in specific ways such as loss aversion or likelihood insensitivity. In this article, we modify existing methods for counterterrorism decisions. We keep expected utility as the defender's paradigm to seek for the rational decision, but we use prospect theory to solve for the attacker's decision to descriptively model the attacker's loss aversion and likelihood insensitivity. We study the effects of this approach in a critical decision, whether to screen containers entering the United States for radioactive materials. We find that the defender's optimal decision is sensitive to the attacker's levels of loss aversion and likelihood insensitivity, meaning that understanding such descriptive decision effects is important in making such decisions. © 2014 Society for Risk Analysis.

Decision and game theory in management with intuitionistic fuzzy sets

CERN Document Server

Li, Deng-Feng

2014-01-01

The focus of this book is on establishing theories and methods of both decision and game analysis in management using intuitionistic fuzzy sets. It proposes a series of innovative theories, models and methods such as the representation theorem and extension principle of intuitionistic fuzzy sets, ranking methods of intuitionistic fuzzy numbers, non-linear and linear programming methods for intuitionistic fuzzy multi-attribute decision making and (interval-valued) intuitionistic fuzzy matrix games. These theories and methods form the theory system of intuitionistic fuzzy decision making and games, which is not only remarkably different from those of the traditional, Bayes and/or fuzzy decision theory but can also provide an effective and efficient tool for solving complex management problems. Since there is a certain degree of inherent hesitancy in real-life management, which cannot always be described by the traditional mathematical methods and/or fuzzy set theory, this book offers an effective approach to us...

Prospect theory on the brain? Toward a cognitive neuroscience of decision under risk.

Science.gov (United States)

Trepel, Christopher; Fox, Craig R; Poldrack, Russell A

2005-04-01

Most decisions must be made without advance knowledge of their consequences. Economists and psychologists have devoted much attention to modeling decisions made under conditions of risk in which options can be characterized by a known probability distribution over possible outcomes. The descriptive shortcomings of classical economic models motivated the development of prospect theory (D. Kahneman, A. Tversky, Prospect theory: An analysis of decision under risk. Econometrica, 4 (1979) 263-291; A. Tversky, D. Kahneman, Advances in prospect theory: Cumulative representation of uncertainty. Journal of Risk and Uncertainty, 5 (4) (1992) 297-323) the most successful behavioral model of decision under risk. In the prospect theory, subjective value is modeled by a value function that is concave for gains, convex for losses, and steeper for losses than for gains; the impact of probabilities are characterized by a weighting function that overweights low probabilities and underweights moderate to high probabilities. We outline the possible neural bases of the components of prospect theory, surveying evidence from human imaging, lesion, and neuropharmacology studies as well as animal neurophysiology studies. These results provide preliminary suggestions concerning the neural bases of prospect theory that include a broad set of brain regions and neuromodulatory systems. These data suggest that focused studies of decision making in the context of quantitative models may provide substantial leverage towards a fuller understanding of the cognitive neuroscience of decision making.

Is expected utility theory normative for medical decision making?

Science.gov (United States)

Cohen, B J

1996-01-01

Expected utility theory is felt by its proponents to be a normative theory of decision making under uncertainty. The theory starts with some simple axioms that are held to be rules that any rational person would follow. It can be shown that if one adheres to these axioms, a numerical quantity, generally referred to as utility, can be assigned to each possible outcome, with the preferred course of action being that which has the highest expected utility. One of these axioms, the independence principle, is controversial, and is frequently violated in experimental situations. Proponents of the theory hold that these violations are irrational. The independence principle is simply an axiom dictating consistency among preferences, in that it dictates that a rational agent should hold a specified preference given another stated preference. When applied to preferences between lotteries, the independence principle can be demonstrated to be a rule that is followed only when preferences are formed in a particular way. The logic of expected utility theory is that this demonstration proves that preferences should be formed in this way. An alternative interpretation is that this demonstrates that the independence principle is not a valid general rule of consistency, but in particular, is a rule that must be followed if one is to consistently apply the decision rule "choose the lottery that has the highest expected utility." This decision rule must be justified on its own terms as a valid rule of rationality by demonstration that violation would lead to decisions that conflict with the decision maker's goals. This rule does not appear to be suitable for medical decisions because often these are one-time decisions in which expectation, a long-run property of a random variable, would not seem to be applicable. This is particularly true for those decisions involving a non-trivial risk of death.

Fundamentals of the fuzzy logic-based generalized theory of decisions

CERN Document Server

Aliev, Rafik Aziz

2013-01-01

Every day decision making and decision making in complex human-centric systems are characterized by imperfect decision-relevant information. Main drawback of the existing decision theories is namely incapability to deal with imperfect information and modeling vague preferences. Actually, a paradigm of non-numerical probabilities in decision making has a long history and arose also in Keynes’s analysis of uncertainty. There is a need for further generalization – a move to decision theories with perception-based imperfect information described in NL. The languages of new decision models for human-centric systems should be not languages based on binary logic but human-centric computational schemes able to operate on NL-described information. Development of new theories is now possible due to an increased computational power of information processing systems which allows for computations with imperfect information, particularly, imprecise and partially true information, which are much more complex than comput...

A quantitative approach to choose among multiple mutually exclusive decisions: comparative expected utility theory

OpenAIRE

Zhu, Pengyu

2018-01-01

Mutually exclusive decisions have been studied for decades. Many well-known decision theories have been defined to help people either to make rational decisions or to interpret people's behaviors, such as expected utility theory, regret theory, prospect theory, and so on. The paper argues that none of these decision theories are designed to provide practical, normative and quantitative approaches for multiple mutually exclusive decisions. Different decision-makers should naturally make differ...

A Theory of Utility Conditionals: Paralogical Reasoning from Decision-Theoretic Leakage

Science.gov (United States)

Bonnefon, Jean-Francois

2009-01-01

Many "if p, then q" conditionals have decision-theoretic features, such as antecedents or consequents that relate to the utility functions of various agents. These decision-theoretic features leak into reasoning processes, resulting in various paralogical conclusions. The theory of utility conditionals offers a unified account of the various forms…

Complex Decision Making Theory and Practice

CERN Document Server

Qudrat-Ullah, Hassan; Spector, J Michael

2007-01-01

The increasingly complex environment of today's world, characterized by technological innovation and global communication, generates myriads of possible and actual interactions while limited physical and intellectual resources severely impinge on decision makers, be it in the public or private domains. At the core of the decision-making process is the need for quality information that allows the decision maker to better assess the impact of decisions in terms of outcomes, nonlinear feedback processes and time delays on the performance of the complex system invoked. This volume is a timely review on the principles underlying complex decision making, the handling of uncertainties in dynamic envrionments and of the various modeling approaches used. The book consists of five parts, each composed of several chapters: I: Complex Decision Making: Concepts, Theories and Empirical Evidence II: Tools and Techniques for Decision Making in Complex Environments and Systems III: System Dynamics and Agent-Based Modeling IV:...

Do violations of the axioms of expected utility theory threaten decision analysis?

Science.gov (United States)

Nease, R F

1996-01-01

Research demonstrates that people violate the independence principle of expected utility theory, raising the question of whether expected utility theory is normative for medical decision making. The author provides three arguments that violations of the independence principle are less problematic than they might first appear. First, the independence principle follows from other more fundamental axioms whose appeal may be more readily apparent than that of the independence principle. Second, the axioms need not be descriptive to be normative, and they need not be attractive to all decision makers for expected utility theory to be useful for some. Finally, by providing a metaphor of decision analysis as a conversation between the actual decision maker and a model decision maker, the author argues that expected utility theory need not be purely normative for decision analysis to be useful. In short, violations of the independence principle do not necessarily represent direct violations of the axioms of expected utility theory; behavioral violations of the axioms of expected utility theory do not necessarily imply that decision analysis is not normative; and full normativeness is not necessary for decision analysis to generate valuable insights.

Justifying Design Decisions with Theory-based Design Principles

OpenAIRE

Schermann, Michael;Gehlert, Andreas;Pohl, Klaus;Krcmar, Helmut

2014-01-01

Although the role of theories in design research is recognized, we show that little attention has been paid on how to use theories when designing new artifacts. We introduce design principles as a new methodological approach to address this problem. Design principles extend the notion of design rationales that document how a design decision emerged. We extend the concept of design rationales by using theoretical hypotheses to support or object to design decisions. At the example of developing...

Should the model for risk-informed regulation be game theory rather than decision theory?

Science.gov (United States)

Bier, Vicki M; Lin, Shi-Woei

2013-02-01

deception), to identify optimal regulatory strategies. Therefore, we believe that the types of regulatory interactions analyzed in this article are better modeled using game theory rather than decision theory. In particular, the goals of this article are to review the relevant literature in game theory and regulatory economics (to stimulate interest in this area among risk analysts), and to present illustrative results showing how the application of game theory can provide useful insights into the theory and practice of risk-informed regulation. © 2012 Society for Risk Analysis.

Intentions and plans in decision and game theory

NARCIS (Netherlands)

van Hees, M.; Roy, O.; Verbeek, B.

2008-01-01

Given the important role that intentions play in the way we make decisions, we would expect intentions to occupy a substantial place in any theory of action. Surprisingly enough, in what is perhaps the most influential theory of action, rational choice theory, explicit reference is made to actions,

The opportunity-threat theory of decision-making under risk

OpenAIRE

Mohan Pandey

2018-01-01

A new theory of decision-making under risk, the Opportunity-Threat Theory is proposed. Analysis of risk into opportunity and threat components allows description of behavior as a combination of opportunity seeking and threat aversion. Expected utility is a special case of this model. The final evaluation is an integration of the impacts of opportunity and threat with this expectation. The model can account for basic results as well as several ``new paradoxes'' that refuted c...

How Decision Support Systems Can Benefit from a Theory of Change Approach

Science.gov (United States)

Allen, Will; Cruz, Jennyffer; Warburton, Bruce

2017-06-01

Decision support systems are now mostly computer and internet-based information systems designed to support land managers with complex decision-making. However, there is concern that many environmental and agricultural decision support systems remain underutilized and ineffective. Recent efforts to improve decision support systems use have focused on enhancing stakeholder participation in their development, but a mismatch between stakeholders' expectations and the reality of decision support systems outputs continues to limit uptake. Additional challenges remain in problem-framing and evaluation. We propose using an outcomes-based approach called theory of change in conjunction with decision support systems development to support both wider problem-framing and outcomes-based monitoring and evaluation. The theory of change helps framing by placing the decision support systems within a wider context. It highlights how decision support systems use can "contribute" to long-term outcomes, and helps align decision support systems outputs with these larger goals. We illustrate the benefits of linking decision support systems development and application with a theory of change approach using an example of pest rabbit management in Australia. We develop a theory of change that outlines the activities required to achieve the outcomes desired from an effective rabbit management program, and two decision support systems that contribute to specific aspects of decision making in this wider problem context. Using a theory of change in this way should increase acceptance of the role of decision support systems by end-users, clarify their limitations and, importantly, increase effectiveness of rabbit management. The use of a theory of change should benefit those seeking to improve decision support systems design, use and, evaluation.

How Decision Support Systems Can Benefit from a Theory of Change Approach.

Science.gov (United States)

Allen, Will; Cruz, Jennyffer; Warburton, Bruce

2017-06-01

Decision support systems are now mostly computer and internet-based information systems designed to support land managers with complex decision-making. However, there is concern that many environmental and agricultural decision support systems remain underutilized and ineffective. Recent efforts to improve decision support systems use have focused on enhancing stakeholder participation in their development, but a mismatch between stakeholders' expectations and the reality of decision support systems outputs continues to limit uptake. Additional challenges remain in problem-framing and evaluation. We propose using an outcomes-based approach called theory of change in conjunction with decision support systems development to support both wider problem-framing and outcomes-based monitoring and evaluation. The theory of change helps framing by placing the decision support systems within a wider context. It highlights how decision support systems use can "contribute" to long-term outcomes, and helps align decision support systems outputs with these larger goals. We illustrate the benefits of linking decision support systems development and application with a theory of change approach using an example of pest rabbit management in Australia. We develop a theory of change that outlines the activities required to achieve the outcomes desired from an effective rabbit management program, and two decision support systems that contribute to specific aspects of decision making in this wider problem context. Using a theory of change in this way should increase acceptance of the role of decision support systems by end-users, clarify their limitations and, importantly, increase effectiveness of rabbit management. The use of a theory of change should benefit those seeking to improve decision support systems design, use and, evaluation.

Combining Theory of Institutional Logics and Theory of Justification in Understanding Ambiguous Decision Making

DEFF Research Database (Denmark)

Westenholz, Ann

I propose to understand decision making by combining theory of institutional logics (Friedland; Thornton, Ocasio & Lounsbury) and theory of justification (Boltanski and Thévenot). These two theoretical approaches are different but, at the same time, deal with the socially constructed plurality...... companies have located part of their business in Denmark. Finally I conclude and discuss why theory of institutional logics needs theory of justification and vice versa....... of the world nesting a macro-meso-micro level analysis. My argument is that both theories may learn from each other and enrich the study of ambiguous decision making. In the paper I describe, compare and combine the two theoretical approaches. I then illustrate the combined approach by a case where Chinese...

An Overview of Judgment and Decision Making Research Through the Lens of Fuzzy Trace Theory.

Science.gov (United States)

Setton, Roni; Wilhelms, Evan; Weldon, Becky; Chick, Christina; Reyna, Valerie

2014-12-01

We present the basic tenets of fuzzy trace theory, a comprehensive theory of memory, judgment, and decision making that is grounded in research on how information is stored as knowledge, mentally represented, retrieved from storage, and processed. In doing so, we highlight how it is distinguished from traditional models of decision making in that gist reasoning plays a central role. The theory also distinguishes advanced intuition from primitive impulsivity. It predicts that different sorts of errors occur with respect to each component of judgment and decision making: background knowledge, representation, retrieval, and processing. Classic errors in the judgment and decision making literature, such as risky-choice framing and the conjunction fallacy, are accounted for by fuzzy trace theory and new results generated by the theory contradict traditional approaches. We also describe how developmental changes in brain and behavior offer crucial insight into adult cognitive processing. Research investigating brain and behavior in developing and special populations supports fuzzy trace theory's predictions about reliance on gist processing.

The boundaries of instance-based learning theory for explaining decisions from experience.

Science.gov (United States)

Gonzalez, Cleotilde

2013-01-01

Most demonstrations of how people make decisions in risky situations rely on decisions from description, where outcomes and their probabilities are explicitly stated. But recently, more attention has been given to decisions from experience where people discover these outcomes and probabilities through exploration. More importantly, risky behavior depends on how decisions are made (from description or experience), and although prospect theory explains decisions from description, a comprehensive model of decisions from experience is yet to be found. Instance-based learning theory (IBLT) explains how decisions are made from experience through interactions with dynamic environments (Gonzalez et al., 2003). The theory has shown robust explanations of behavior across multiple tasks and contexts, but it is becoming unclear what the theory is able to explain and what it does not. The goal of this chapter is to start addressing this problem. I will introduce IBLT and a recent cognitive model based on this theory: the IBL model of repeated binary choice; then I will discuss the phenomena that the IBL model explains and those that the model does not. The argument is for the theory's robustness but also for clarity in terms of concrete effects that the theory can or cannot account for. Copyright © 2013 Elsevier B.V. All rights reserved.

An economic theory of patient decision-making.

Science.gov (United States)

Stewart, Douglas O; DeMarco, Joseph P

2005-01-01

Patient autonomy, as exercised in the informed consent process, is a central concern in bioethics. The typical bioethicist's analysis of autonomy centers on decisional capacity--finding the line between autonomy and its absence. This approach leaves unexplored the structure of reasoning behind patient treatment decisions. To counter that approach, we present a microeconomic theory of patient decision-making regarding the acceptable level of medical treatment from the patient's perspective. We show that a rational patient's desired treatment level typically departs from the level yielding an absence of symptoms, the level we call ideal. This microeconomic theory demonstrates why patients have good reason not to pursue treatment to the point of absence of physical symptoms. We defend our view against possible objections that it is unrealistic and that it fails to adequately consider harm a patient may suffer by curtailing treatment. Our analysis is fruitful in various ways. It shows why decisions often considered unreasonable might be fully reasonable. It offers a theoretical account of how physician misinformation may adversely affect a patient's decision. It shows how billing costs influence patient decision-making. It indicates that health care professionals' beliefs about the 'unreasonable' attitudes of patients might often be wrong. It provides a better understanding of patient rationality that should help to ensure fuller information as well as increased respect for patient decision-making.

Decision-making under risk. An overview of some alternative utility theories

International Nuclear Information System (INIS)

Pauwels, N.; Van Woensel, T.

1998-09-01

Decision-makers often have to take decisions with unknown consequences that depend on various events which on their turn can take place a certain chance. Under the given circumstances, the traditional decision criterion is based on the maximisation of the expected benefits. Experimental studies have however revealed important inconsistencies between decisions taken on the basis of this decision criterion on the one hand and the observed decisions on the other hand. The report gives an overview of a number of alternative theories extending or adapting the traditional theory in view of avoiding the observed inconsistencies

Decision making with consonant belief functions: Discrepancy resulting with the probability transformation method used

Directory of Open Access Journals (Sweden)

Cinicioglu Esma Nur

2014-01-01

Full Text Available Dempster−Shafer belief function theory can address a wider class of uncertainty than the standard probability theory does, and this fact appeals the researchers in operations research society for potential application areas. However, the lack of a decision theory of belief functions gives rise to the need to use the probability transformation methods for decision making. For representation of statistical evidence, the class of consonant belief functions is used which is not closed under Dempster’s rule of combination but is closed under Walley’s rule of combination. In this research, it is shown that the outcomes obtained using both Dempster’s and Walley’s rules do result in different probability distributions when pignistic transformation is used. However, when plausibility transformation is used, they do result in the same probability distribution. This result shows that the choice of the combination rule and probability transformation method may have a significant effect on decision making since it may change the choice of the decision alternative selected. This result is illustrated via an example of missile type identification.

Prospect theory or construal level theory? Diminishing sensitivity vs. psychological distance in risky decisions

NARCIS (Netherlands)

Trautmann, S.T.; van de Kuilen, G.

2012-01-01

Attitudes toward risks are central to organizational decisions. These attitudes are commonly modeled by prospect theory. Construal level theory has been proposed as an alternative theory of risky choice, accounting for psychological distance deriving from temporal, spatial and social aspects of risk

A regret theory approach to decision curve analysis: A novel method for eliciting decision makers' preferences and decision-making

OpenAIRE

Vickers Andrew; Hozo Iztok; Tsalatsanis Athanasios; Djulbegovic Benjamin

2010-01-01

Abstract Background Decision curve analysis (DCA) has been proposed as an alternative method for evaluation of diagnostic tests, prediction models, and molecular markers. However, DCA is based on expected utility theory, which has been routinely violated by decision makers. Decision-making is governed by intuition (system 1), and analytical, deliberative process (system 2), thus, rational decision-making should reflect both formal principles of rationality and intuition about good decisions. ...

Application of preprocessing filtering on Decision Tree C4.5 and rough set theory

Science.gov (United States)

Chan, Joseph C. C.; Lin, Tsau Y.

2001-03-01

This paper compares two artificial intelligence methods: the Decision Tree C4.5 and Rough Set Theory on the stock market data. The Decision Tree C4.5 is reviewed with the Rough Set Theory. An enhanced window application is developed to facilitate the pre-processing filtering by introducing the feature (attribute) transformations, which allows users to input formulas and create new attributes. Also, the application produces three varieties of data set with delaying, averaging, and summation. The results prove the improvement of pre-processing by applying feature (attribute) transformations on Decision Tree C4.5. Moreover, the comparison between Decision Tree C4.5 and Rough Set Theory is based on the clarity, automation, accuracy, dimensionality, raw data, and speed, which is supported by the rules sets generated by both algorithms on three different sets of data.

A regret theory approach to decision curve analysis: A novel method for eliciting decision makers' preferences and decision-making

Directory of Open Access Journals (Sweden)

Vickers Andrew

2010-09-01

Full Text Available Abstract Background Decision curve analysis (DCA has been proposed as an alternative method for evaluation of diagnostic tests, prediction models, and molecular markers. However, DCA is based on expected utility theory, which has been routinely violated by decision makers. Decision-making is governed by intuition (system 1, and analytical, deliberative process (system 2, thus, rational decision-making should reflect both formal principles of rationality and intuition about good decisions. We use the cognitive emotion of regret to serve as a link between systems 1 and 2 and to reformulate DCA. Methods First, we analysed a classic decision tree describing three decision alternatives: treat, do not treat, and treat or no treat based on a predictive model. We then computed the expected regret for each of these alternatives as the difference between the utility of the action taken and the utility of the action that, in retrospect, should have been taken. For any pair of strategies, we measure the difference in net expected regret. Finally, we employ the concept of acceptable regret to identify the circumstances under which a potentially wrong strategy is tolerable to a decision-maker. Results We developed a novel dual visual analog scale to describe the relationship between regret associated with "omissions" (e.g. failure to treat vs. "commissions" (e.g. treating unnecessary and decision maker's preferences as expressed in terms of threshold probability. We then proved that the Net Expected Regret Difference, first presented in this paper, is equivalent to net benefits as described in the original DCA. Based on the concept of acceptable regret we identified the circumstances under which a decision maker tolerates a potentially wrong decision and expressed it in terms of probability of disease. Conclusions We present a novel method for eliciting decision maker's preferences and an alternative derivation of DCA based on regret theory. Our approach may

Group Decisions in Biodiversity Conservation: Implications from Game Theory

OpenAIRE

Frank, David M.; Sarkar, Sahotra

2010-01-01

Background Decision analysis and game theory [1], [2] have proved useful tools in various biodiversity conservation planning and modeling contexts [3]?[5]. This paper shows how game theory may be used to inform group decisions in biodiversity conservation scenarios by modeling conflicts between stakeholders to identify Pareto?inefficient Nash equilibria. These are cases in which each agent pursuing individual self?interest leads to a worse outcome for all, relative to other feasible outcomes....

The design of patient decision support interventions: addressing the theory-practice gap

NARCIS (Netherlands)

Elwyn, G.; Stiel, M.; Durand, M.A.; Boivin, J.

2011-01-01

BACKGROUND: Although an increasing number of decision support interventions for patients (including decision aids) are produced, few make explicit use of theory. We argue the importance of using theory to guide design. The aim of this work was to address this theory-practice gap and to examine how a

Validating the predictions of case-based decision theory

OpenAIRE

Radoc, Benjamin

2015-01-01

Real-life decision-makers typically do not know all possible outcomes arising from alternative courses of action. Instead, when people face a problem, they may rely on the recollection of their past personal experience: the situation, the action taken, and the accompanying consequence. In addition, the applicability of a past experience in decision-making may depend on how similar the current problem is to situations encountered previously. Case-based decision theory (CBDT), proposed by Itzha...

Community resilience and decision theory challenges for catastrophic events.

Science.gov (United States)

Cox, Louis Anthony

2012-11-01

Extreme and catastrophic events pose challenges for normative models of risk management decision making. They invite development of new methods and principles to complement existing normative decision and risk analysis. Because such events are rare, it is difficult to learn about them from experience. They can prompt both too little concern before the fact, and too much after. Emotionally charged and vivid outcomes promote probability neglect and distort risk perceptions. Aversion to acting on uncertain probabilities saps precautionary action; moral hazard distorts incentives to take care; imperfect learning and social adaptation (e.g., herd-following, group-think) complicate forecasting and coordination of individual behaviors and undermine prediction, preparation, and insurance of catastrophic events. Such difficulties raise substantial challenges for normative decision theories prescribing how catastrophe risks should be managed. This article summarizes challenges for catastrophic hazards with uncertain or unpredictable frequencies and severities, hard-to-envision and incompletely described decision alternatives and consequences, and individual responses that influence each other. Conceptual models and examples clarify where and why new methods are needed to complement traditional normative decision theories for individuals and groups. For example, prospective and retrospective preferences for risk management alternatives may conflict; procedures for combining individual beliefs or preferences can produce collective decisions that no one favors; and individual choices or behaviors in preparing for possible disasters may have no equilibrium. Recent ideas for building "disaster-resilient" communities can complement traditional normative decision theories, helping to meet the practical need for better ways to manage risks of extreme and catastrophic events. © 2012 Society for Risk Analysis.

Decision theory with resource-bounded agents.

Science.gov (United States)

Halpern, Joseph Y; Pass, Rafael; Seeman, Lior

2014-04-01

There have been two major lines of research aimed at capturing resource-bounded players in game theory. The first, initiated by Rubinstein (), charges an agent for doing costly computation; the second, initiated by Neyman (), does not charge for computation, but limits the computation that agents can do, typically by modeling agents as finite automata. We review recent work on applying both approaches in the context of decision theory. For the first approach, we take the objects of choice in a decision problem to be Turing machines, and charge players for the "complexity" of the Turing machine chosen (e.g., its running time). This approach can be used to explain well-known phenomena like first-impression-matters biases (i.e., people tend to put more weight on evidence they hear early on) and belief polarization (two people with different prior beliefs, hearing the same evidence, can end up with diametrically opposed conclusions) as the outcomes of quite rational decisions. For the second approach, we model people as finite automata, and provide a simple algorithm that, on a problem that captures a number of settings of interest, provably performs optimally as the number of states in the automaton increases. Copyright © 2014 Cognitive Science Society, Inc.

Using Rational Action Theory and Bourdieu's Habitus theory together to account for educational decision-making in England and Germany.

OpenAIRE

Glaesser, J.; Cooper, B.

2014-01-01

Both Rational Action Theory (RAT) and Bourdieu’s habitus theory are employed to explain educational decision-making. RAT assumes that decision-making involves cost-benefit analysis, while habitus theory sees educational pathways as shaped by dispositions reflecting familial class of origin. These theories are often seen as conflicting, but we argue that they can fruitfully be used together. Proponents of these theories often employ different methods. RAT advocates usually employ survey d...

Decision theory applied to radioactive repository construction

International Nuclear Information System (INIS)

Heilbron Filho, Paulo Fernando Lavalle; Pontedeiro, Elizabeth May

2001-01-01

The objective of this article is to present, through the presentation of an example, the applicability of the decision theory on the selection and construction of a repository for low and intermediate radioactive waste. (author)

A general theory of intertemporal decision-making and the perception of time.

Science.gov (United States)

Namboodiri, Vijay M K; Mihalas, Stefan; Marton, Tanya M; Hussain Shuler, Marshall G

2014-01-01

Animals and humans make decisions based on their expected outcomes. Since relevant outcomes are often delayed, perceiving delays and choosing between earlier vs. later rewards (intertemporal decision-making) is an essential component of animal behavior. The myriad observations made in experiments studying intertemporal decision-making and time perception have not yet been rationalized within a single theory. Here we present a theory-Training-Integrated Maximized Estimation of Reinforcement Rate (TIMERR)-that explains a wide variety of behavioral observations made in intertemporal decision-making and the perception of time. Our theory postulates that animals make intertemporal choices to optimize expected reward rates over a limited temporal window which includes a past integration interval-over which experienced reward rate is estimated-as well as the expected delay to future reward. Using this theory, we derive mathematical expressions for both the subjective value of a delayed reward and the subjective representation of the delay. A unique contribution of our work is in finding that the past integration interval directly determines the steepness of temporal discounting and the non-linearity of time perception. In so doing, our theory provides a single framework to understand both intertemporal decision-making and time perception.

Fuzzy-valued linguistic soft set theory and multi-attribute decision-making application

International Nuclear Information System (INIS)

Aiwu, Zhao; Hongjun, Guan

2016-01-01

In this work, we propose the theory of fuzzy linguistic soft set (FLSS) to represent the uncertainty and multi-angle of view when decision makers evaluate an object during decision-making. FLSS integrates fuzzy set theory, linguistic variable and soft set theory. It allows decision makers to utilize linguistic variables to evaluate an object and utilize fuzzy values to describe the corresponding grade of their support of their decisions. Meanwhile, because of the flexibility of soft set, decision makers can use more than one pair of fuzzy-linguistic evaluations to express their opinions from multiple perspectives directly, if necessary. Therefore, it is more flexible and practical than traditional fuzzy set or 2-dimension uncertainty linguistic variable. We also develop a generalized weighted aggregation operator for FLSSs to solve corresponding decision-making issues. Finally, we give a numerical example to verify the practicality and effectiveness of the proposed method.

Applications of Bayesian decision theory to intelligent tutoring systems

NARCIS (Netherlands)

Vos, Hendrik J.

1994-01-01

Some applications of Bayesian decision theory to intelligent tutoring systems are considered. How the problem of adapting the appropriate amount of instruction to the changing nature of a student's capabilities during the learning process can be situated in the general framework of Bayesian decision

Some properties of focus points in one-shot decision theory

OpenAIRE

Guo, Peijun

2011-01-01

One-shot (one-time) decision problems concern the situations where a decision is experienced only once. Such one-shot decision problems are commonly encountered in business, economics and social systems. One-shot decision theory has been initially proposed by Guo [4]. The one-shot decision procedure comprises two steps. In the first step, a decision maker identifies which state of nature should be taken into account for each alternative amongst all available states of nature. These identified...

Making Decisions about an Educational Game, Simulation or Workshop: A 'Game Theory' Perspective.

Science.gov (United States)

Cryer, Patricia

1988-01-01

Uses game theory to help practitioners make decisions about educational games, simulations, or workshops whose outcomes depend to some extent on chance. Highlights include principles for making decisions involving risk; elementary laws of probability; utility theory; and principles for making decisions involving uncertainty. (eight references)…

An EGR performance evaluation and decision-making approach based on grey theory and grey entropy analysis.

Science.gov (United States)

Zu, Xianghuan; Yang, Chuanlei; Wang, Hechun; Wang, Yinyan

2018-01-01

Exhaust gas recirculation (EGR) is one of the main methods of reducing NOX emissions and has been widely used in marine diesel engines. This paper proposes an optimized comprehensive assessment method based on multi-objective grey situation decision theory, grey relation theory and grey entropy analysis to evaluate the performance and optimize rate determination of EGR, which currently lack clear theoretical guidance. First, multi-objective grey situation decision theory is used to establish the initial decision-making model according to the main EGR parameters. The optimal compromise between diesel engine combustion and emission performance is transformed into a decision-making target weight problem. After establishing the initial model and considering the characteristics of EGR under different conditions, an optimized target weight algorithm based on grey relation theory and grey entropy analysis is applied to generate the comprehensive evaluation and decision-making model. Finally, the proposed method is successfully applied to a TBD234V12 turbocharged diesel engine, and the results clearly illustrate the feasibility of the proposed method for providing theoretical support and a reference for further EGR optimization.

Utility function under decision theory: A construction arbitration application

Science.gov (United States)

Alozn, Ahmad E.; Galadari, Abdulla

2017-08-01

While a wide range of dispute resolution mechanisms exist, practitioners favor legally binding ones such as litigation and arbitration. Since initiating a litigation or arbitration case against a business partner may dissolve the business relationship between them, predicting the arbitrator's decision becomes valuable to the arbitrating parties. This paper proposes a construction-specific utility framework for the arbitrating party through decision theory, and based on expected utility theory. The proposed framework preserves the industry practicality and most importantly, considers direct short-term factors and indirect long-term factors as well. It is suggested that the arbitrating parties' utility functions could be then used to identify equilibrium points among them when interact via game theory principles, which would serve the purpose of predicting the arbitration outcome.

Development of a program theory for shared decision-making: a realist review protocol.

Science.gov (United States)

Groot, Gary; Waldron, Tamara; Carr, Tracey; McMullen, Linda; Bandura, Lori-Ann; Neufeld, Shelley-May; Duncan, Vicky

2017-06-17

The practicality of applying evidence to healthcare systems with the aim of implementing change is an ongoing challenge for practitioners, policy makers, and academics. Shared decision- making (SDM), a method of medical decision-making that allows a balanced relationship between patients, physicians, and other key players in the medical decision process, is purported to improve patient and system outcomes. Despite the oft-mentioned benefits, there are gaps in the current literature between theory and implementation that would benefit from a realist approach given the value of this methodology to analyze complex interventions. In this protocol, we outline a study that will explore: "In which situations, how, why, and for whom does SDM between patients and health care providers contribute to improved decision making?" A seven step iterative process will be described including preliminary theory development, establishment of a search strategy, selection and appraisal of literature, data extraction, analysis and synthesis of extracted results from literature, and formation of a revised program theory with the input of patients, physicians, nurse navigators, and policy makers from a stakeholder session. The goal of the realist review will be to identify and refine a program theory for SDM through the identification of mechanisms which shape the characteristics of when, how, and why SDM will, and will not, work. PROSPERO CRD42017062609.

Decision making under time pressure, modeled in a prospect theory framework.

Science.gov (United States)

Young, Diana L; Goodie, Adam S; Hall, Daniel B; Wu, Eric

2012-07-01

The current research examines the effects of time pressure on decision behavior based on a prospect theory framework. In Experiments 1 and 2, participants estimated certainty equivalents for binary gains-only bets in the presence or absence of time pressure. In Experiment 3, participants assessed comparable bets that were framed as losses. Data were modeled to establish psychological mechanisms underlying decision behavior. In Experiments 1 and 2, time pressure led to increased risk attractiveness, but no significant differences emerged in either probability discriminability or outcome utility. In Experiment 3, time pressure reduced probability discriminability, which was coupled with severe risk-seeking behavior for both conditions in the domain of losses. No significant effects of control over outcomes were observed. Results provide qualified support for theories that suggest increased risk-seeking for gains under time pressure.

Prospect theory and the decision to move or stay.

Science.gov (United States)

Clark, William A V; Lisowski, William

2017-09-05

Migration has always involved stress and risk. More risk-averse households are less likely to move, while less risk-averse households will seek out opportunities and migrate. We investigate how the theoretical contributions of prospect theory, and specifically the endowment effect, can provide new understanding about decisions whether to migrate or not. We test the hypothesis that risk aversion extends the length of stay in the dwelling and, by extension, in the local labor and housing markets. How long people remain in place is a function, we hypothesize, of their independently self-assessed propensity to take risks, after controlling for a range of demographic and socioeconomic characteristics. We use the theoretical insights of prospect theory and the endowment effect (the notion of the "use value" differing from the "exchange value") to explain the likelihood of staying after controlling for life-course events. The results confirm the explanatory power of self-assessed risk in the decision to migrate or stay and, equally important, confirm the role of the endowment effect.

SUMMARY OF THEORIES IN CAPITAL STRUCTURE DECISIONS

Directory of Open Access Journals (Sweden)

Herczeg Adrienn

2014-07-01

In Hungary the capital structure of enterprises changed significantly since 1990, but it is true, that their decisions about the capital can not fit with neither theoretical appeal totally. There is no universal theory of the debt-equity choice, and no reason to expect one.

Expected utility versus expected regret theory versions of decision curve analysis do generate different results when treatment effects are taken into account.

Science.gov (United States)

Hozo, Iztok; Tsalatsanis, Athanasios; Djulbegovic, Benjamin

2018-02-01

Decision curve analysis (DCA) is a widely used method for evaluating diagnostic tests and predictive models. It was developed based on expected utility theory (EUT) and has been reformulated using expected regret theory (ERG). Under certain circumstances, these 2 formulations yield different results. Here we describe these situations and explain the variation. We compare the derivations of the EUT- and ERG-based formulations of DCA for a typical medical decision problem: "treat none," "treat all," or "use model" to guide treatment. We illustrate the differences between the 2 formulations when applied to the following clinical question: at which probability of death we should refer a terminally ill patient to hospice? Both DCA formulations yielded identical but mirrored results when treatment effects are ignored; they generated significantly different results otherwise. Treatment effect has a significant effect on the results derived by EUT DCA and less so on ERG DCA. The elicitation of specific values for disutilities affected the results even more significantly in the context of EUT DCA, whereas no such elicitation was required within the ERG framework. EUT and ERG DCA generate different results when treatment effects are taken into account. The magnitude of the difference depends on the effect of treatment and the disutilities associated with disease and treatment effects. This is important to realize as the current practice guidelines are uniformly based on EUT; the same recommendations can significantly differ if they are derived based on ERG framework. © 2016 The Authors. Journal of Evaluation in Clinical Practice Published by John Wiley & Sons Ltd.

A general theory of intertemporal decision-making and the perception of time

Directory of Open Access Journals (Sweden)

Vijay Mohan eK Namboodiri

2014-02-01

Full Text Available Animals and humans make decisions based on their expected outcomes. Since relevant outcomes are often delayed, perceiving delays and choosing between earlier versus later rewards (intertemporal decision-making is an essential component of animal behavior. The myriad observations made in experiments studying intertemporal decision-making and time perception have not yet been rationalized within a single theory. Here we present a theory—Training-Integrated Maximized Estimation of Reinforcement Rate (TIMERR—that explains a wide variety of behavioral observations made in intertemporal decision-making and the perception of time. Our theory postulates that animals make intertemporal choices to optimize expected reward rates over a limited temporal window which includes a past integration interval—over which experienced reward rate is estimated—as well as the expected delay to future reward. Using this theory, we derive mathematical expressions for both the subjective value of a delayed reward and the subjective representation of the delay. A unique contribution of our work is in finding that the past integration interval directly determines the steepness of temporal discounting and the nonlinearity of time perception. In so doing, our theory provides a single framework to understand both intertemporal decision-making and time perception.

Applications of decision theory to computer-based adaptive instructional systems

NARCIS (Netherlands)

Vos, Hendrik J.

1988-01-01

This paper considers applications of decision theory to the problem of instructional decision-making in computer-based adaptive instructional systems, using the Minnesota Adaptive Instructional System (MAIS) as an example. The first section indicates how the problem of selecting the appropriate

A regret theory approach to decision curve analysis: a novel method for eliciting decision makers' preferences and decision-making.

Science.gov (United States)

Tsalatsanis, Athanasios; Hozo, Iztok; Vickers, Andrew; Djulbegovic, Benjamin

2010-09-16

Decision curve analysis (DCA) has been proposed as an alternative method for evaluation of diagnostic tests, prediction models, and molecular markers. However, DCA is based on expected utility theory, which has been routinely violated by decision makers. Decision-making is governed by intuition (system 1), and analytical, deliberative process (system 2), thus, rational decision-making should reflect both formal principles of rationality and intuition about good decisions. We use the cognitive emotion of regret to serve as a link between systems 1 and 2 and to reformulate DCA. First, we analysed a classic decision tree describing three decision alternatives: treat, do not treat, and treat or no treat based on a predictive model. We then computed the expected regret for each of these alternatives as the difference between the utility of the action taken and the utility of the action that, in retrospect, should have been taken. For any pair of strategies, we measure the difference in net expected regret. Finally, we employ the concept of acceptable regret to identify the circumstances under which a potentially wrong strategy is tolerable to a decision-maker. We developed a novel dual visual analog scale to describe the relationship between regret associated with "omissions" (e.g. failure to treat) vs. "commissions" (e.g. treating unnecessary) and decision maker's preferences as expressed in terms of threshold probability. We then proved that the Net Expected Regret Difference, first presented in this paper, is equivalent to net benefits as described in the original DCA. Based on the concept of acceptable regret we identified the circumstances under which a decision maker tolerates a potentially wrong decision and expressed it in terms of probability of disease. We present a novel method for eliciting decision maker's preferences and an alternative derivation of DCA based on regret theory. Our approach may be intuitively more appealing to a decision-maker, particularly

Decision making under time pressure, modeled in a prospect theory framework

Science.gov (United States)

Young, Diana L.; Goodie, Adam S.; Hall, Daniel B.; Wu, Eric

2012-01-01

The current research examines the effects of time pressure on decision behavior based on a prospect theory framework. In Experiments 1 and 2, participants estimated certainty equivalents for binary gains-only bets in the presence or absence of time pressure. In Experiment 3, participants assessed comparable bets that were framed as losses. Data were modeled to establish psychological mechanisms underlying decision behavior. In Experiments 1 and 2, time pressure led to increased risk attractiveness, but no significant differences emerged in either probability discriminability or outcome utility. In Experiment 3, time pressure reduced probability discriminability, which was coupled with severe risk-seeking behavior for both conditions in the domain of losses. No significant effects of control over outcomes were observed. Results provide qualified support for theories that suggest increased risk-seeking for gains under time pressure. PMID:22711977

Decision-making model of generation technology under uncertainty based on real option theory

International Nuclear Information System (INIS)

Ming, Zeng; Ping, Zhang; Shunkun, Yu; Ge, Zhang

2016-01-01

Highlights: • A decision-making model of generation technology investment is proposed. • The irreversible investment concept and real option theory is introduced. • Practical data was used to prove the validity of the model. • Impact of electricity and fuel price fluctuation on investment was analyzed. - Abstract: The introduction of market competition and the increased uncertainty factors makes the generators have to decide not only on whether to invest generation capacity or not but also on what kind of generation technology to choose. In this paper, a decision-making model of generation technology investment is proposed. The irreversible investment concept and real option theory is introduced as the fundamental of the model. In order to explain the decision-making process of generator’s investment, the decision-making optimization model was built considering two generation technologies, i.e., the heat-only system and the combined heat and power generation. Also, we discussed the theory deducing process, which explained how to eliminate the overrated economic potential caused by risk hazard, based on economic evaluation of both generation technologies. Finally, practical data from electricity market of Inner Mongolia was used to prove the validity of the model and the impact of uncertainties of electricity and fuel price fluctuation on investment was analyzed according to the simulated results.

Continuous-time Markov decision processes theory and applications

CERN Document Server

Guo, Xianping

2009-01-01

This volume provides the first book entirely devoted to recent developments on the theory and applications of continuous-time Markov decision processes (MDPs). The MDPs presented here include most of the cases that arise in applications.

Clinical decision-making and therapeutic approaches in osteopathy - a qualitative grounded theory study.

Science.gov (United States)

Thomson, Oliver P; Petty, Nicola J; Moore, Ann P

2014-02-01

There is limited understanding of how osteopaths make decisions in relation to clinical practice. The aim of this research was to construct an explanatory theory of the clinical decision-making and therapeutic approaches of experienced osteopaths in the UK. Twelve UK registered osteopaths participated in this constructivist grounded theory qualitative study. Purposive and theoretical sampling was used to select participants. Data was collected using semi-structured interviews which were audio-recorded and transcribed. As the study approached theoretical sufficiency, participants were observed and video-recorded during a patient appointment, which was followed by a video-prompted interview. Constant comparative analysis was used to analyse and code data. Data analysis resulted in the construction of three qualitatively different therapeutic approaches which characterised participants and their clinical practice, termed; Treater, Communicator and Educator. Participants' therapeutic approach influenced their approach to clinical decision-making, the level of patient involvement, their interaction with patients, and therapeutic goals. Participants' overall conception of practice lay on a continuum ranging from technical rationality to professional artistry, and contributed to their therapeutic approach. A range of factors were identified which influenced participants' conception of practice. The findings indicate that there is variation in osteopaths' therapeutic approaches to practice and clinical decision-making, which are influenced by their overall conception of practice. This study provides the first explanatory theory of the clinical decision-making and therapeutic approaches of osteopaths. Copyright © 2013 Elsevier Ltd. All rights reserved.

Decision theory on the quality evaluation of medical images

International Nuclear Information System (INIS)

Lessa, Patricia Silva

2001-10-01

The problem of quality has been a constant issue in every organization.One is always seeking to produce more, to do it at a lower cost, and to do it with better quality. However, in this country, there is no radiographic film quality control system for radiographic services. The tittle that actually gets done is essentially ad hoc and superficial. The implications of this gap, along with some other shortcomings that exist in process as a whole (the state of the x-ray equipment, the adequate to use in order to obtain a radiography, the quality of the film, the processing of the film, the brightness and homogeneity of the viewing boxes, the ability of the radiologist), have a very negative impact on the quality of the medical image, and, as result, to the quality of the medical diagnosis and therapy. It frequently happens that many radiographs have to be repeated, which leads to an increase of the patient's exposure to radiation, as well as of the cost of the procedure for the patient. Low quality radiographs that are not repeated greatly increase the probability of a wrong diagnosis, and consequently, of inadequate therapeutical procedures, thus producing increased incidence of bad outcomes and higher costs. The paradigm proposed in order to establish a system for the measurement of the image's quality is Decision Theory. The problem of the assessment of the image is studied by proposing a Decision Theory approach. The review of the literature reveals a great concern with the quality of the image, along with an absence of an adequate paradigm and several essentially empirical procedures. Image parameters are developed in order to formalize the problem in terms of Decision Theory, and various aspects of image digitalisation are exposed. Finally, a solution is presented, including a protocol for quality control. (author)

A theory of Bayesian decision making

OpenAIRE

Karni, Edi

2009-01-01

This paper presents a complete, choice-based, axiomatic Bayesian decision theory. It introduces a new choice set consisting of information-contingent plans for choosing actions and bets and subjective expected utility model with effect-dependent utility functions and action-dependent subjective probabilities which, in conjunction with the updating of the probabilities using Bayes’ rule, gives rise to a unique prior and a set of action-dependent posterior probabilities representing the decisio...

Grey situation group decision-making method based on prospect theory.

Science.gov (United States)

Zhang, Na; Fang, Zhigeng; Liu, Xiaqing

2014-01-01

This paper puts forward a grey situation group decision-making method on the basis of prospect theory, in view of the grey situation group decision-making problems that decisions are often made by multiple decision experts and those experts have risk preferences. The method takes the positive and negative ideal situation distance as reference points, defines positive and negative prospect value function, and introduces decision experts' risk preference into grey situation decision-making to make the final decision be more in line with decision experts' psychological behavior. Based on TOPSIS method, this paper determines the weight of each decision expert, sets up comprehensive prospect value matrix for decision experts' evaluation, and finally determines the optimal situation. At last, this paper verifies the effectiveness and feasibility of the method by means of a specific example.

Bayesian inference and decision theory - A framework for decision making in natural resource management

Science.gov (United States)

Dorazio, R.M.; Johnson, F.A.

2003-01-01

Bayesian inference and decision theory may be used in the solution of relatively complex problems of natural resource management, owing to recent advances in statistical theory and computing. In particular, Markov chain Monte Carlo algorithms provide a computational framework for fitting models of adequate complexity and for evaluating the expected consequences of alternative management actions. We illustrate these features using an example based on management of waterfowl habitat.

Theories of Health Care Decision Making at the End of Life: A Meta-Ethnography.

Science.gov (United States)

Kim, Kyounghae; Heinze, Katherine; Xu, Jiayun; Kurtz, Melissa; Park, Hyunjeong; Foradori, Megan; Nolan, Marie T

2017-08-01

The aim of this meta-ethnography is to appraise the types and uses of theories relative to end-of-life decision making and to develop a conceptual framework to describe end-of-life decision making among patients with advanced cancers, heart failure, and amyotrophic lateral sclerosis (ALS) and their caregivers or providers. We used PubMed, Embase, and Cumulative Index to Nursing and Allied Health Literature (CINAHL) databases to extract English-language articles published between January 2002 and April 2015. Forty-three articles were included. The most common theories included decision-making models ( n = 14) followed by family-centered ( n = 11) and behavioral change models ( n = 7). A conceptual framework was developed using themes including context of decision making, communication and negotiation of decision making, characteristics of decision makers, goals of decision making, options and alternatives, and outcomes. Future research should enhance and apply these theories to guide research to develop patient-centered decision-making programs that facilitate informed and shared decision making at the end of life among patients with advanced illness and their caregivers.

Decision theory, the context for risk and reliability analysis

International Nuclear Information System (INIS)

Kaplan, S.

1985-01-01

According to this model of the decision process then, the optimum decision is that option having the largest expected utility. This is the fundamental model of a decision situation. It is necessary to remark that in order for the model to represent a real-life decision situation, it must include all the options present in that situation, including, for example, the option of not deciding--which is itself a decision, although usually not the optimum one. Similarly, it should include the option of delaying the decision while the authors gather further information. Both of these options have probabilities, outcomes, impacts, and utilities like any option and should be included explicitly in the decision diagram. The reason for doing a quantitative risk or reliability analysis is always that, somewhere underlying there is a decision to be made. The decision analysis therefore always forms the context for the risk or reliability analysis, and this context shapes the form and language of that analysis. Therefore, they give in this section a brief review of the well-known decision theory diagram

When people don't realize their career decisions : towards a theory of career inaction

OpenAIRE

Verbruggen, Marijke; Vos, de, Ans

2016-01-01

Abstract: Career decisions are at the core of the career literature. Most theories on career decisions - and accordingly, most empirical studies - have focused on the decision-making process and on factors influencing it. Some theoretical work has been done on the phase afterwards, i.e. after the career decision is made. However, these theories generally focus on the career transition process, implicitly assuming that people always go through with the objective changes they desired. Career in...

Non-Bayesian decision theory beliefs and desires as reasons for action

CERN Document Server

Peterson, Martin

2008-01-01

This book aims to present an account of rational choice from a non-Bayesian point of view. It provides the first non-Bayesian account of normative decision theory and includes a formal account of the framing of decision problems.

Decision making by hybrid probabilistic: Possibilistic utility theory

Directory of Open Access Journals (Sweden)

Pap Endre

2009-01-01

Full Text Available It is presented an approach to decision theory based upon nonprobabilistic uncertainty. There is an axiomatization of the hybrid probabilistic possibilistic mixtures based on a pair of triangular conorm and triangular norm satisfying restricted distributivity law, and the corresponding non-additive Smeasure. This is characterized by the families of operations involved in generalized mixtures, based upon a previous result on the characterization of the pair of continuous t-norm and t-conorm such that the former is restrictedly distributive over the latter. The obtained family of mixtures combines probabilistic and idempotent (possibilistic mixtures via a threshold.

Rigorously testing multialternative decision field theory against random utility models.

Science.gov (United States)

Berkowitsch, Nicolas A J; Scheibehenne, Benjamin; Rieskamp, Jörg

2014-06-01

Cognitive models of decision making aim to explain the process underlying observed choices. Here, we test a sequential sampling model of decision making, multialternative decision field theory (MDFT; Roe, Busemeyer, & Townsend, 2001), on empirical grounds and compare it against 2 established random utility models of choice: the probit and the logit model. Using a within-subject experimental design, participants in 2 studies repeatedly choose among sets of options (consumer products) described on several attributes. The results of Study 1 showed that all models predicted participants' choices equally well. In Study 2, in which the choice sets were explicitly designed to distinguish the models, MDFT had an advantage in predicting the observed choices. Study 2 further revealed the occurrence of multiple context effects within single participants, indicating an interdependent evaluation of choice options and correlations between different context effects. In sum, the results indicate that sequential sampling models can provide relevant insights into the cognitive process underlying preferential choices and thus can lead to better choice predictions. PsycINFO Database Record (c) 2014 APA, all rights reserved.

A hierarchical instrumental decision theory of nicotine dependence.

Science.gov (United States)

Hogarth, Lee; Troisi, Joseph R

2015-01-01

It is important to characterize the learning processes governing tobacco-seeking in order to understand how best to treat this behavior. Most drug learning theories have adopted a Pavlovian framework wherein the conditioned response is the main motivational process. We favor instead a hierarchical instrumental decision account, wherein expectations about the instrumental contingency between voluntary tobacco-seeking and the receipt of nicotine reward determines the probability of executing this behavior. To support this view, we review titration and nicotine discrimination research showing that internal signals for deprivation/satiation modulate expectations about the current incentive value of smoking, thereby modulating the propensity of this behavior. We also review research on cue-reactivity which has shown that external smoking cues modulate expectations about the probability of the tobacco-seeking response being effective, thereby modulating the propensity of this behavior. Economic decision theory is then considered to elucidate how expectations about the value and probability of response-nicotine contingency are integrated to form an overall utility estimate for that option for comparison with qualitatively different, nonsubstitute reinforcers, to determine response selection. As an applied test for this hierarchical instrumental decision framework, we consider how well it accounts for individual liability to smoking uptake and perseveration, pharmacotherapy, cue-extinction therapies, and plain packaging. We conclude that the hierarchical instrumental account is successful in reconciling this broad range of phenomenon precisely because it accepts that multiple diverse sources of internal and external information must be integrated to shape the decision to smoke.

Models and theories of prescribing decisions: A review and suggested a new model.

Science.gov (United States)

Murshid, Mohsen Ali; Mohaidin, Zurina

2017-01-01

To date, research on the prescribing decisions of physician lacks sound theoretical foundations. In fact, drug prescribing by doctors is a complex phenomenon influenced by various factors. Most of the existing studies in the area of drug prescription explain the process of decision-making by physicians via the exploratory approach rather than theoretical. Therefore, this review is an attempt to suggest a value conceptual model that explains the theoretical linkages existing between marketing efforts, patient and pharmacist and physician decision to prescribe the drugs. The paper follows an inclusive review approach and applies the previous theoretical models of prescribing behaviour to identify the relational factors. More specifically, the report identifies and uses several valuable perspectives such as the 'persuasion theory - elaboration likelihood model', the stimuli-response marketing model', the 'agency theory', the theory of planned behaviour,' and 'social power theory,' in developing an innovative conceptual paradigm. Based on the combination of existing methods and previous models, this paper suggests a new conceptual model of the physician decision-making process. This unique model has the potential for use in further research.

A theory-based decision aid for patients with cancer: results of feasibility and acceptability testing of DecisionKEYS for cancer.

Science.gov (United States)

Hollen, Patricia J; Gralla, Richard J; Jones, Randy A; Thomas, Christopher Y; Brenin, David R; Weiss, Geoffrey R; Schroen, Anneke T; Petroni, Gina R

2013-03-01

Appropriate utilization of treatment is a goal for all patients undergoing cancer treatment. Proper treatment maximizes benefit and limits exposure to unnecessary measures. This report describes findings of the feasibility and acceptability of implementing a short, clinic-based decision aid and presents an in-depth clinical profile of the participants. This descriptive study used a prospective, quantitative approach to obtain the feasibility and acceptability of a decision aid (DecisionKEYS for Balancing Choices) for use in clinical settings. It combined results of trials of patients with three different common malignancies. All groups used the same decision aid series. Participants included 80 patients with solid tumors (22 with newly diagnosed breast cancer, 19 with advanced prostate cancer, and 39 with advanced lung cancer) and their 80 supporters as well as their physicians and nurses, for a total of 160 participants and 10 health professionals. The decision aid was highly acceptable to patient and supporter participants in all diagnostic groups. It was feasible for use in clinic settings; the overall value was rated highly. Of six physicians, all found the interactive format with the help of the nurse as feasible and acceptable. Nurses also rated the decision aid favorably. This intervention provides the opportunity to enhance decision making about cancer treatment and warrants further study including larger and more diverse groups. Strengths of the study included a theoretical grounding, feasibility testing of a practical clinic-based intervention, and summative evaluation of acceptability of the intervention by patient and supporter pairs. Further research also is needed to test the effectiveness of the decision aid in diverse clinical settings and to determine if this intervention can decrease overall costs.

Applying voting theory in natural resource management: a case of multiple-criteria group decision support.

Science.gov (United States)

Laukkanen, Sanna; Kangas, Annika; Kangas, Jyrki

2002-02-01

Voting theory has a lot in common with utility theory, and especially with group decision-making. An expected-utility-maximising strategy exists in voting situations, as well as in decision-making situations. Therefore, it is natural to utilise the achievements of voting theory also in group decision-making. Most voting systems are based on a single criterion or holistic preference information on decision alternatives. However, a voting scheme called multicriteria approval is specially developed for decision-making situations with multiple criteria. This study considers the voting theory from the group decision support point of view and compares it with some other methods applied to similar purposes in natural resource management. A case study is presented, where the approval voting approach is introduced to natural resources planning and tested in a forestry group decision-making process. Applying multicriteria approval method was found to be a potential approach for handling some challenges typical for forestry group decision support. These challenges include (i) utilising ordinal information in the evaluation of decision alternatives, (ii) being readily understandable for and treating equally all the stakeholders in possession of different levels of knowledge on the subject considered, (iii) fast and cheap acquisition of preference information from several stakeholders, and (iv) dealing with multiple criteria.

Vers une théorie décisionnelle de la traduction Toward a Decision-driven Translation Theory

Directory of Open Access Journals (Sweden)

Christine Durieux

2009-05-01

Full Text Available Until now, research on translation was within the framework of a formal theory paradigm. An extension of structuralism, linguistic theories of translation claim complete objectivity. In opposition to that hyperpositivism, interpretive theories open widely to constructivism. The translator acts as an intermediary in the communication chain and, to that end, activates an inference engine in order to build the meaning of the text to be translated. However, if the translating process may be defined as a sequence of decisions, decision-making is not the result of a purely rational reasoning relying on strict inference rules but the outcome of a mechanism ruled by bounded rationality. The decision-making process is governed by selective attention and controlled by emotions, hence situating the translating process between reason and emotion.

Facilitating Group Decision-Making: Facilitator's Subjective Theories on Group Coordination

Directory of Open Access Journals (Sweden)

Michaela Kolbe

2008-10-01

Full Text Available A key feature of group facilitation is motivating and coordinating people to perform their joint work. This paper focuses on group coordination which is a prerequisite to group effectiveness, especially in complex tasks. Decision-making in groups is a complex task that consequently needs to be coordinated by explicit rather than implicit coordination mechanisms. Based on the embedded definition that explicit coordination does not just happen but is purposely executed by individuals, we argue that individual coordination intentions and mechanisms should be taken into account. Thus far, the subjective perspective of coordination has been neglected in coordination theory, which is understandable given the difficulties in defining and measuring subjective aspects of group facilitation. We therefore conducted focused interviews with eight experts who either worked as senior managers or as experienced group facilitators and analysed their approaches to group coordination using methods of content analysis. Results show that these experts possess sophisticated mental representations of their coordination behaviour. These subjective coordination theories can be organised in terms of coordination schemes in which coordination-releasing situations are facilitated by special coordination mechanisms that, in turn, lead to the perception of specific consequences. We discuss the importance of these subjective coordination theories for effectively facilitating group decision-making and minimising process losses. URN: urn:nbn:de:0114-fqs0901287

Theory of mind deficits partly mediate impaired social decision-making in schizophrenia.

Science.gov (United States)

Yang, Liuqing; Li, Peifu; Mao, Haiying; Wang, Huiling; Shu, Chang; Bliksted, Vibeke; Zhou, Yuan

2017-05-05

Using paradigms from game theory, researchers have reported abnormal decision-making in social context in patients with schizophrenia. However, less is known about the underpinnings of the impairment. This study aimed to test whether theory of mind (ToM) deficits and/or neurocognitive dysfunctions mediate impaired social decision-making in patients with schizophrenia. We compared thirty-five patients with schizophrenia to thirty-eight matched healthy controls with regard to social decision-making using the mini Ultimatum Game (mini UG), a paradigm from game theory. Additionally, we assessed ToM using the Theory of Mind Picture Stories Task, a mental state attribution task, and assessed neurocognition using the Brief Assessment of Cognition in Schizophrenia. Mediation analyses were performed on the data. In contrast to the behavioral pattern of healthy controls in the mini UG, the patients with schizophrenia significantly accepted more disadvantageous offers and rejected more advantageous offers, and showed reduced sensitivity to the fairness-related context changes in the mini UG. Impaired ToM and neurocognition were also found in the patients. Mediation analyses indicated that ToM but not neurocognition partially mediated the group differences on the disadvantageous and advantageous offers in the mini UG. Patients with schizophrenia exhibited impaired social decision-making. This impairment can be partly explained by their ToM deficits rather than neurocognitive deficits. However, the exact nature of the ToM deficits that mediate impaired social decision-making needs to be identified in future.

Beyond statistical inference: a decision theory for science.

Science.gov (United States)

Killeen, Peter R

2006-08-01

Traditional null hypothesis significance testing does not yield the probability of the null or its alternative and, therefore, cannot logically ground scientific decisions. The decision theory proposed here calculates the expected utility of an effect on the basis of (1) the probability of replicating it and (2) a utility function on its size. It takes significance tests--which place all value on the replicability of an effect and none on its magnitude--as a special case, one in which the cost of a false positive is revealed to be an order of magnitude greater than the value of a true positive. More realistic utility functions credit both replicability and effect size, integrating them for a single index of merit. The analysis incorporates opportunity cost and is consistent with alternate measures of effect size, such as r2 and information transmission, and with Bayesian model selection criteria. An alternate formulation is functionally equivalent to the formal theory, transparent, and easy to compute.

Application of Bayesian statistical decision theory to the optimization of generating set maintenance

International Nuclear Information System (INIS)

Procaccia, H.; Cordier, R.; Muller, S.

1994-07-01

Statistical decision theory could be a alternative for the optimization of preventive maintenance periodicity. In effect, this theory concerns the situation in which a decision maker has to make a choice between a set of reasonable decisions, and where the loss associated to a given decision depends on a probabilistic risk, called state of nature. In the case of maintenance optimization, the decisions to be analyzed are different periodicities proposed by the experts, given the observed feedback experience, the states of nature are the associated failure probabilities, and the losses are the expectations of the induced cost of maintenance and of consequences of the failures. As failure probabilities concern rare events, at the ultimate state of RCM analysis (failure of sub-component), and as expected foreseeable behaviour of equipment has to be evaluated by experts, Bayesian approach is successfully used to compute states of nature. In Bayesian decision theory, a prior distribution for failure probabilities is modeled from expert knowledge, and is combined with few stochastic information provided by feedback experience, giving a posterior distribution of failure probabilities. The optimized decision is the decision that minimizes the expected loss over the posterior distribution. This methodology has been applied to inspection and maintenance optimization of cylinders of diesel generator engines of 900 MW nuclear plants. In these plants, auxiliary electric power is supplied by 2 redundant diesel generators which are tested every 2 weeks during about 1 hour. Until now, during yearly refueling of each plant, one endoscopic inspection of diesel cylinders is performed, and every 5 operating years, all cylinders are replaced. RCM has shown that cylinder failures could be critical. So Bayesian decision theory has been applied, taking into account expert opinions, and possibility of aging when maintenance periodicity is extended. (authors). 8 refs., 5 figs., 1 tab

An Intuitionistic Fuzzy Stochastic Decision-Making Method Based on Case-Based Reasoning and Prospect Theory

Directory of Open Access Journals (Sweden)

Peng Li

2017-01-01

Full Text Available According to the case-based reasoning method and prospect theory, this paper mainly focuses on finding a way to obtain decision-makers’ preferences and the criterion weights for stochastic multicriteria decision-making problems and classify alternatives. Firstly, we construct a new score function for an intuitionistic fuzzy number (IFN considering the decision-making environment. Then, we aggregate the decision-making information in different natural states according to the prospect theory and test decision-making matrices. A mathematical programming model based on a case-based reasoning method is presented to obtain the criterion weights. Moreover, in the original decision-making problem, we integrate all the intuitionistic fuzzy decision-making matrices into an expectation matrix using the expected utility theory and classify or rank the alternatives by the case-based reasoning method. Finally, two illustrative examples are provided to illustrate the implementation process and applicability of the developed method.

Group decisions in biodiversity conservation: implications from game theory.

Science.gov (United States)

Frank, David M; Sarkar, Sahotra

2010-05-27

Decision analysis and game theory have proved useful tools in various biodiversity conservation planning and modeling contexts. This paper shows how game theory may be used to inform group decisions in biodiversity conservation scenarios by modeling conflicts between stakeholders to identify Pareto-inefficient Nash equilibria. These are cases in which each agent pursuing individual self-interest leads to a worse outcome for all, relative to other feasible outcomes. Three case studies from biodiversity conservation contexts showing this feature are modeled to demonstrate how game-theoretical representation can inform group decision-making. The mathematical theory of games is used to model three biodiversity conservation scenarios with Pareto-inefficient Nash equilibria: (i) a two-agent case involving wild dogs in South Africa; (ii) a three-agent raptor and grouse conservation scenario from the United Kingdom; and (iii) an n-agent fish and coral conservation scenario from the Philippines. In each case there is reason to believe that traditional mechanism-design solutions that appeal to material incentives may be inadequate, and the game-theoretical analysis recommends a resumption of further deliberation between agents and the initiation of trust--and confidence--building measures. Game theory can and should be used as a normative tool in biodiversity conservation contexts: identifying scenarios with Pareto-inefficient Nash equilibria enables constructive action in order to achieve (closer to) optimal conservation outcomes, whether by policy solutions based on mechanism design or otherwise. However, there is mounting evidence that formal mechanism-design solutions may backfire in certain cases. Such scenarios demand a return to group deliberation and the creation of reciprocal relationships of trust.

Group decisions in biodiversity conservation: implications from game theory.

Directory of Open Access Journals (Sweden)

David M Frank

Full Text Available BACKGROUND: Decision analysis and game theory have proved useful tools in various biodiversity conservation planning and modeling contexts. This paper shows how game theory may be used to inform group decisions in biodiversity conservation scenarios by modeling conflicts between stakeholders to identify Pareto-inefficient Nash equilibria. These are cases in which each agent pursuing individual self-interest leads to a worse outcome for all, relative to other feasible outcomes. Three case studies from biodiversity conservation contexts showing this feature are modeled to demonstrate how game-theoretical representation can inform group decision-making. METHODOLOGY AND PRINCIPAL FINDINGS: The mathematical theory of games is used to model three biodiversity conservation scenarios with Pareto-inefficient Nash equilibria: (i a two-agent case involving wild dogs in South Africa; (ii a three-agent raptor and grouse conservation scenario from the United Kingdom; and (iii an n-agent fish and coral conservation scenario from the Philippines. In each case there is reason to believe that traditional mechanism-design solutions that appeal to material incentives may be inadequate, and the game-theoretical analysis recommends a resumption of further deliberation between agents and the initiation of trust--and confidence--building measures. CONCLUSIONS AND SIGNIFICANCE: Game theory can and should be used as a normative tool in biodiversity conservation contexts: identifying scenarios with Pareto-inefficient Nash equilibria enables constructive action in order to achieve (closer to optimal conservation outcomes, whether by policy solutions based on mechanism design or otherwise. However, there is mounting evidence that formal mechanism-design solutions may backfire in certain cases. Such scenarios demand a return to group deliberation and the creation of reciprocal relationships of trust.

An integrated theory of attention and decision making in visual signal detection.

Science.gov (United States)

Smith, Philip L; Ratcliff, Roger

2009-04-01

The simplest attentional task, detecting a cued stimulus in an otherwise empty visual field, produces complex patterns of performance. Attentional cues interact with backward masks and with spatial uncertainty, and there is a dissociation in the effects of these variables on accuracy and on response time. A computational theory of performance in this task is described. The theory links visual encoding, masking, spatial attention, visual short-term memory (VSTM), and perceptual decision making in an integrated dynamic framework. The theory assumes that decisions are made by a diffusion process driven by a neurally plausible, shunting VSTM. The VSTM trace encodes the transient outputs of early visual filters in a durable form that is preserved for the time needed to make a decision. Attention increases the efficiency of VSTM encoding, either by increasing the rate of trace formation or by reducing the delay before trace formation begins. The theory provides a detailed, quantitative account of attentional effects in spatial cuing tasks at the level of response accuracy and the response time distributions. (c) 2009 APA, all rights reserved

The Relevance of Theories of the Policy Process to Educational Decision-Making.

Science.gov (United States)

Ryan, R. J.

1985-01-01

Two case studies of educational decision making are used to test the utility of some current theories of the policy-formation process; a framework for the application of these theories is proposed; and the merits of applying existing theories before seeking new paradigms are stressed. (MSE)

Mind-ception: Investigating the relationship between theory of mind and decision making

OpenAIRE

Ahamed, Hassan; Kurczek, Jake

2016-01-01

Ahamed, H., & Kurczek, J. (2016, April). Mind-ception: Investigating the relationship between theory of mind and decision making. Poster Presentation at the 31st Annual LVAIC Undergraduate Psychology Conference. Bethlehem, PA. •  Much of our decision making (DM) requires either direct or indirect considerations of others’ thoughts (McCubbins, et al., 2012). •  Theory of Mind (ToM – the capacity to infer the thoughts/intentions of others) is an abi...

Using fuzzy-trace theory to understand and improve health judgments, decisions, and behaviors: A literature review.

Science.gov (United States)

Blalock, Susan J; Reyna, Valerie F

2016-08-01

Fuzzy-trace theory is a dual-process model of memory, reasoning, judgment, and decision making that contrasts with traditional expectancy-value approaches. We review the literature applying fuzzy-trace theory to health with 3 aims: evaluating whether the theory's basic distinctions have been validated empirically in the domain of health; determining whether these distinctions are useful in assessing, explaining, and predicting health-related psychological processes; and determining whether the theory can be used to improve health judgments, decisions, or behaviors, especially compared to other approaches. We conducted a literature review using PubMed, PsycINFO, and Web of Science to identify empirical peer-reviewed papers that applied fuzzy-trace theory, or central constructs of the theory, to investigate health judgments, decisions, or behaviors. Seventy nine studies (updated total is 94 studies; see Supplemental materials) were identified, over half published since 2012, spanning a wide variety of conditions and populations. Study findings supported the prediction that verbatim and gist representations are distinct constructs that can be retrieved independently using different cues. Although gist-based reasoning was usually associated with improved judgment and decision making, 4 sources of bias that can impair gist reasoning were identified. Finally, promising findings were reported from intervention studies that used fuzzy-trace theory to improve decision making and decrease unhealthy risk taking. Despite large gaps in the literature, most studies supported all 3 aims. By focusing on basic psychological processes that underlie judgment and decision making, fuzzy-trace theory provides insights into how individuals make decisions involving health risks and suggests innovative intervention approaches to improve health outcomes. (PsycINFO Database Record (c) 2016 APA, all rights reserved).

Small- and large-stakes risk aversion: implications of concavity calabration for decision theory

NARCIS (Netherlands)

Cox, J.C.; Sadiraj, V.

2006-01-01

A growing literature reports the conclusions that: (a) expected utility theory does not provide a plausible theory of risk aversion for both small-stakes and large-stakes gambles; and (b) this decision theory should be replaced with an alternative theory characterized by loss aversion. This paper

A decision model for E and P petroleum projects using real options and preference theory

Energy Technology Data Exchange (ETDEWEB)

Lima, Gabriel A.C. [Universidade Estadual de Campinas, SP (Brazil). Inst. de Geociencias. Lab. de Analise Geoconomica (LAGE); Suslick, Saul B. [Universidade Estadual de Campinas, SP (Brazil). Inst. de Geociencias. Centro de Estudo do Petroleo; Nepomuceno Filho, Francisco [PETROBRAS, Rio de Janeiro, RJ (Brazil)

2004-07-01

The results from Discounted Cash Flow (DCF) are limited as a tool for decision-making in the petroleum industry because they do not properly take into account three important features of the modern investments: uncertainty, irreversibility, timing and corporation's risk-aversion. Recent developments in real options and preference theories have allowed decision-makers to employ these two approaches separately in the process of valuation and decision-making of risky projects. This paper presents a model for valuation and decision-making integrating discounted cash flow, real options and reference theory. This model seems to be suitable to answer to the following questions: what is the current value of an oil project? what is the optimal working interest in this project venture?; what is criteria to select projects considering investment irreversibility, uncertainty and timing to implement decisions? This model is applied to valuation and decision-making of a project to produce oil from a deep-water reservoir and its results are compared to those of the traditional approach. NPV model suggest that, as the project value is above its investment cost, the corporation should invest immediately and take 100% working interest in the project. Contrarily, the integrated model suggest the corporation should invest as long as project current value is as large as 1.85 times investment cost and should take only 44.38% working interest, whereas partners fund and acquire the remaining 55,62% of the project. In general, results indicate that NPV tend to pay more attention on return and does not account properly for risk. Then, as the uncertainty or volatile of strategic variables increases, the two models give more divergent results. (author)

A Grounded Theory Study of Aircraft Maintenance Technician Decision-Making

Science.gov (United States)

Norcross, Robert

Aircraft maintenance technician decision-making and actions have resulted in aircraft system errors causing aircraft incidents and accidents. Aircraft accident investigators and researchers examined the factors that influence aircraft maintenance technician errors and categorized the types of errors in an attempt to prevent similar occurrences. New aircraft technology introduced to improve aviation safety and efficiency incur failures that have no information contained in the aircraft maintenance manuals. According to the Federal Aviation Administration, aircraft maintenance technicians must use only approved aircraft maintenance documents to repair, modify, and service aircraft. This qualitative research used a grounded theory approach to explore the decision-making processes and actions taken by aircraft maintenance technicians when confronted with an aircraft problem not contained in the aircraft maintenance manuals. The target population for the research was Federal Aviation Administration licensed aircraft and power plant mechanics from across the United States. Nonprobability purposeful sampling was used to obtain aircraft maintenance technicians with the experience sought in the study problem. The sample population recruitment yielded 19 participants for eight focus group sessions to obtain opinions, perceptions, and experiences related to the study problem. All data collected was entered into the Atlas ti qualitative analysis software. The emergence of Aircraft Maintenance Technician decision-making themes regarding Aircraft Maintenance Manual content, Aircraft Maintenance Technician experience, and legal implications of not following Aircraft Maintenance Manuals surfaced. Conclusions from this study suggest Aircraft Maintenance Technician decision-making were influenced by experience, gaps in the Aircraft Maintenance Manuals, reliance on others, realizing the impact of decisions concerning aircraft airworthiness, management pressures, and legal concerns

Decision theory and the evaluation of risks and benefits of clinical trials.

Science.gov (United States)

Bernabe, Rosemarie D C; van Thiel, Ghislaine J M W; Raaijmakers, Jan A M; van Delden, Johannes J M

2012-12-01

Research ethics committees (RECs) are tasked to assess the risks and the benefits of a clinical trial. In previous studies, it was shown that RECs find this task difficult, if not impossible, to do. The current approaches to benefit-risk assessment (i.e. Component Analysis and the Net Risk Test) confound the various risk-benefit tasks, and as such, make balancing impossible. In this article, we show that decision theory, specifically through the expected utility theory and multiattribute utility theory, enable for an explicit and ethically weighted risk-benefit evaluation. This makes a balanced ethical justification possible, and thus a more rationally defensible decision making. Copyright © 2012 Elsevier Ltd. All rights reserved.

Theory-informed design of values clarification methods: a cognitive psychological perspective on patient health-related decision making.

Science.gov (United States)

Pieterse, Arwen H; de Vries, Marieke; Kunneman, Marleen; Stiggelbout, Anne M; Feldman-Stewart, Deb

2013-01-01

Healthcare decisions, particularly those involving weighing benefits and harms that may significantly affect quality and/or length of life, should reflect patients' preferences. To support patients in making choices, patient decision aids and values clarification methods (VCM) in particular have been developed. VCM intend to help patients to determine the aspects of the choices that are important to their selection of a preferred option. Several types of VCM exist. However, they are often designed without clear reference to theory, which makes it difficult for their development to be systematic and internally coherent. Our goal was to provide theory-informed recommendations for the design of VCM. Process theories of decision making specify components of decision processes, thus, identify particular processes that VCM could aim to facilitate. We conducted a review of the MEDLINE and PsycINFO databases and of references to theories included in retrieved papers, to identify process theories of decision making. We selected a theory if (a) it fulfilled criteria for a process theory; (b) provided a coherent description of the whole process of decision making; and (c) empirical evidence supports at least some of its postulates. Four theories met our criteria: Image Theory, Differentiation and Consolidation theory, Parallel Constraint Satisfaction theory, and Fuzzy-trace Theory. Based on these, we propose that VCM should: help optimize mental representations; encourage considering all potentially appropriate options; delay selection of an initially favoured option; facilitate the retrieval of relevant values from memory; facilitate the comparison of options and their attributes; and offer time to decide. In conclusion, our theory-based design recommendations are explicit and transparent, providing an opportunity to test each in a systematic manner. Copyright © 2012 Elsevier Ltd. All rights reserved.

Technical Note: Application of Decision Theory Based Criteria for ...

African Journals Online (AJOL)

Technical Note: Application of Decision Theory Based Criteria for Structural Appraisal of a Building during Construction. ... Nigerian Journal of Technology ... reliability of concrete in a structure during construction, a case study of laboratory block for College of Continuing Education, University of Port Harcourt, Rivers State.

The conscious mind and its emergent properties; an analysis based on decision theory.

Science.gov (United States)

Morris, James A

2011-08-01

The process of conscious and unconscious decision making is analyzed using decision theory. An essential part of an optimum decision strategy is the assessment of values and costs associated with correct and incorrect decisions. In the case of unconscious decisions this involves an automatic process akin to computation using numerical values. But for conscious decisions the conscious mind must experience the outcome of the decision as pleasure or pain. It is suggested that the rules of behavior are programmed in our genes but modified by experience of the society in which we are reared. Our unconscious then uses the rules to reward or punish our conscious mind for the decisions it makes. This is relevant to concepts of altruism and religion in society. It is consistent with the observation that we prefer beauty to utility. The decision theory equations also explain the paradox that a single index of happiness can be applied in society. The symptoms of mental illness can be due to appropriate or inappropriate action by the unconscious. The former indicates a psychological conflict between conscious and unconscious decision making. Inappropriate action indicates that a pathological process has switched on genetic networks that should be switched off. Copyright © 2011 Elsevier Ltd. All rights reserved.

A game theory perspective on environmental assessment: What games are played and what does this tell us about decision making rationality and legitimacy?

Energy Technology Data Exchange (ETDEWEB)

Bond, Alan [School of Environmental Sciences, University of East Anglia (United Kingdom); Research Unit for Environmental Sciences and Management, North-West University (South Africa); Pope, Jenny [Integral Sustainability (Australia); Research Unit for Environmental Sciences and Management, North-West University (South Africa); Morrison-Saunders, Angus [Murdoch University (Australia); Research Unit for Environmental Sciences and Management, North-West University (South Africa); Retief, Francois [Research Unit for Environmental Sciences and Management, North-West University (South Africa)

2016-02-15

Game theory provides a useful theoretical framework to examine the decision process operating in the context of environmental assessment, and to examine the rationality and legitimacy of decision-making subject to Environmental Assessment (EA). The research uses a case study of the Environmental Impact Assessment and Sustainability Appraisal processes undertaken in England. To these are applied an analytical framework, based on the concept of decision windows to identify the decisions to be assessed. The conditions for legitimacy are defined, based on game theory, in relation to the timing of decision information, the behaviour type (competitive, reciprocal, equity) exhibited by the decision maker, and the level of public engagement; as, together, these control the type of rationality which can be brought to bear on the decision. Instrumental rationality is based on self-interest of individuals, whereas deliberative rationality seeks broader consensus and is more likely to underpin legitimate decisions. The results indicate that the Sustainability Appraisal process, conducted at plan level, is better than EIA, conducted at project level, but still fails to provide conditions that facilitate legitimacy. Game theory also suggests that Sustainability Appraisal is likely to deliver ‘least worst’ outcomes rather than best outcomes when the goals of the assessment process are considered; this may explain the propensity of such ‘least worst’ decisions in practise. On the basis of what can be learned from applying this game theory perspective, it is suggested that environmental assessment processes need to be redesigned and better integrated into decision making in order to guarantee the legitimacy of the decisions made. - Highlights: • Decision legitimacy is defined in terms of game theory. • Game theory is applied to EIA and SA decision windows. • Game theory suggests least worst outcomes prevail. • SA is more likely to be perceived legitimate than EIA.

A game theory perspective on environmental assessment: What games are played and what does this tell us about decision making rationality and legitimacy?

International Nuclear Information System (INIS)

Bond, Alan; Pope, Jenny; Morrison-Saunders, Angus; Retief, Francois

2016-01-01

Game theory provides a useful theoretical framework to examine the decision process operating in the context of environmental assessment, and to examine the rationality and legitimacy of decision-making subject to Environmental Assessment (EA). The research uses a case study of the Environmental Impact Assessment and Sustainability Appraisal processes undertaken in England. To these are applied an analytical framework, based on the concept of decision windows to identify the decisions to be assessed. The conditions for legitimacy are defined, based on game theory, in relation to the timing of decision information, the behaviour type (competitive, reciprocal, equity) exhibited by the decision maker, and the level of public engagement; as, together, these control the type of rationality which can be brought to bear on the decision. Instrumental rationality is based on self-interest of individuals, whereas deliberative rationality seeks broader consensus and is more likely to underpin legitimate decisions. The results indicate that the Sustainability Appraisal process, conducted at plan level, is better than EIA, conducted at project level, but still fails to provide conditions that facilitate legitimacy. Game theory also suggests that Sustainability Appraisal is likely to deliver ‘least worst’ outcomes rather than best outcomes when the goals of the assessment process are considered; this may explain the propensity of such ‘least worst’ decisions in practise. On the basis of what can be learned from applying this game theory perspective, it is suggested that environmental assessment processes need to be redesigned and better integrated into decision making in order to guarantee the legitimacy of the decisions made. - Highlights: • Decision legitimacy is defined in terms of game theory. • Game theory is applied to EIA and SA decision windows. • Game theory suggests least worst outcomes prevail. • SA is more likely to be perceived legitimate than EIA.

An empirical test of the decision to lie component of the Activation-Decision-Construction-Action Theory (ADCAT).

Science.gov (United States)

Masip, Jaume; Blandón-Gitlin, Iris; de la Riva, Clara; Herrero, Carmen

2016-09-01

Meta-analyses reveal that behavioral differences between liars and truth tellers are small. To facilitate lie detection, researchers are currently developing interviewing approaches to increase these differences. Some of these approaches assume that lying is cognitively more difficult than truth telling; however, they are not based on specific cognitive theories of lie production, which are rare. Here we examined one existing theory, Walczyk et al.'s (2014) Activation-Decision-Construction-Action Theory (ADCAT). We tested the Decision component. According to ADCAT, people decide whether to lie or tell the truth as if they were using a specific mathematical formula to calculate the motivation to lie from (a) the probability of a number of outcomes derived from lying vs. telling the truth, and (b) the costs/benefits associated with each outcome. In this study, participants read several hypothetical scenarios and indicated whether they would lie or tell the truth in each scenario (Questionnaire 1). Next, they answered several questions about the consequences of lying vs. telling the truth in each scenario, and rated the probability and valence of each consequence (Questionnaire 2). Significant associations were found between the participants' dichotomous decision to lie/tell the truth in Questionnaire 1 and their motivation to lie scores calculated from the Questionnaire 2 data. However, interestingly, whereas the expected consequences of truth telling were associated with the decision to lie vs. tell the truth, the expected consequences of lying were not. Suggestions are made to refine ADCAT, which can be a useful theoretical framework to guide deception research. Copyright © 2016 Elsevier B.V. All rights reserved.

Doing what's right: A grounded theory of ethical decision-making in occupational therapy.

Science.gov (United States)

VanderKaay, Sandra; Letts, Lori; Jung, Bonny; Moll, Sandra E

2018-04-20

Ethical decision-making is an important aspect of reasoning in occupational therapy practice. However, the process of ethical decision-making within the broader context of reasoning is yet to be clearly explicated. The purpose of this study was to advance a theoretical understanding of the process by which occupational therapists make ethical decisions in day-to-day practice. A constructivist grounded theory approach was adopted, incorporating in-depth semi-structured interviews with 18 occupational therapists from a range of practice settings and years of experience. Initially, participants nominated as key informants who were able to reflect on their decision-making processes were recruited. Theoretical sampling informed subsequent stages of data collection. Participants were asked to describe their process of ethical decision-making using scenarios from clinical practice. Interview transcripts were analyzed using a systematic process of initial then focused coding, and theoretical categorization to construct a theory regarding the process of ethical decision-making. An ethical decision-making prism was developed to capture three main processes: Considering the Fundamental Checklist, Consulting Others, and Doing What's Right. Ethical decision-making appeared to be an inductive and dialectical process with the occupational therapist at its core. Study findings advance our understanding of ethical decision-making in day-to-day clinical practice.

Portfolio theory and the alternative decision rule of cost-effectiveness analysis: theoretical and practical considerations.

Science.gov (United States)

Sendi, Pedram; Al, Maiwenn J; Gafni, Amiram; Birch, Stephen

2004-05-01

Bridges and Terris (Soc. Sci. Med. (2004)) critique our paper on the alternative decision rule of economic evaluation in the presence of uncertainty and constrained resources within the context of a portfolio of health care programs (Sendi et al. Soc. Sci. Med. 57 (2003) 2207). They argue that by not adopting a formal portfolio theory approach we overlook the optimal solution. We show that these arguments stem from a fundamental misunderstanding of the alternative decision rule of economic evaluation. In particular, the portfolio theory approach advocated by Bridges and Terris is based on the same theoretical assumptions that the alternative decision rule set out to relax. Moreover, Bridges and Terris acknowledge that the proposed portfolio theory approach may not identify the optimal solution to resource allocation problems. Hence, it provides neither theoretical nor practical improvements to the proposed alternative decision rule.

Models and theories of prescribing decisions: A review and suggested a new model

Science.gov (United States)

Mohaidin, Zurina

2017-01-01

To date, research on the prescribing decisions of physician lacks sound theoretical foundations. In fact, drug prescribing by doctors is a complex phenomenon influenced by various factors. Most of the existing studies in the area of drug prescription explain the process of decision-making by physicians via the exploratory approach rather than theoretical. Therefore, this review is an attempt to suggest a value conceptual model that explains the theoretical linkages existing between marketing efforts, patient and pharmacist and physician decision to prescribe the drugs. The paper follows an inclusive review approach and applies the previous theoretical models of prescribing behaviour to identify the relational factors. More specifically, the report identifies and uses several valuable perspectives such as the ‘persuasion theory - elaboration likelihood model’, the stimuli–response marketing model’, the ‘agency theory’, the theory of planned behaviour,’ and ‘social power theory,’ in developing an innovative conceptual paradigm. Based on the combination of existing methods and previous models, this paper suggests a new conceptual model of the physician decision-making process. This unique model has the potential for use in further research. PMID:28690701

Models and theories of prescribing decisions: A review and suggested a new model

Directory of Open Access Journals (Sweden)

Ali Murshid M

2017-06-01

Full Text Available To date, research on the prescribing decisions of physician lacks sound theoretical foundations. In fact, drug prescribing by doctors is a complex phenomenon influenced by various factors. Most of the existing studies in the area of drug prescription explain the process of decision-making by physicians via the exploratory approach rather than theoretical. Therefore, this review is an attempt to suggest a value conceptual model that explains the theoretical linkages existing between marketing efforts, patient and pharmacist and physician decision to prescribe the drugs. The paper follows an inclusive review approach and applies the previous theoretical models of prescribing behaviour to identify the relational factors. More specifically, the report identifies and uses several valuable perspectives such as the ‘persuasion theory - elaboration likelihood model’, the stimuli–response marketing model’, the ‘agency theory’, the theory of planned behaviour,’ and ‘social power theory,’ in developing an innovative conceptual paradigm. Based on the combination of existing methods and previous models, this paper suggests a new conceptual model of the physician decision-making process. This unique model has the potential for use in further research.

Quantum Uncertainty and Decision-Making in Game Theory

Science.gov (United States)

Asano, M.; Ohya, M.; Tanaka, Y.; Khrennikov, A.; Basieva, I.

2011-01-01

Recently a few authors pointed to a possibility to apply the mathematical formalism of quantum mechanics to cognitive psychology, in particular, to games of the Prisoners Dilemma (PD) type.6_18 In this paper, we discuss the problem of rationality in game theory and point out that the quantum uncertainty is similar to the uncertainty of knowledge, which a player feels subjectively in his decision-making.

Statistics and Probability Theory In Pursuit of Engineering Decision Support

CERN Document Server

Faber, Michael Havbro

2012-01-01

This book provides the reader with the basic skills and tools of statistics and probability in the context of engineering modeling and analysis. The emphasis is on the application and the reasoning behind the application of these skills and tools for the purpose of enhancing  decision making in engineering. The purpose of the book is to ensure that the reader will acquire the required theoretical basis and technical skills such as to feel comfortable with the theory of basic statistics and probability. Moreover, in this book, as opposed to many standard books on the same subject, the perspective is to focus on the use of the theory for the purpose of engineering model building and decision making.  This work is suitable for readers with little or no prior knowledge on the subject of statistics and probability.

Preference reversal in quantum decision theory

Science.gov (United States)

Yukalov, Vyacheslav I.; Sornette, Didier

2015-01-01

We consider the psychological effect of preference reversal and show that it finds a natural explanation in the frame of quantum decision theory. When people choose between lotteries with non-negative payoffs, they prefer a more certain lottery because of uncertainty aversion. But when people evaluate lottery prices, e.g., for selling to others the right to play them, they do this more rationally, being less subject to behavioral biases. This difference can be explained by the presence of the attraction factors entering the expression of quantum probabilities. Only the existence of attraction factors can explain why, considering two lotteries with close utility factors, a decision maker prefers one of them when choosing, but evaluates higher the other one when pricing. We derive a general quantitative criterion for the preference reversal to occur that relates the utilities of the two lotteries to the attraction factors under choosing vs. pricing and test successfully its application on experiments by Tversky et al. We also show that the planning paradox can be treated as a kind of preference reversal. PMID:26500592

The Influence of Emotion on Fairness-Related Decision Making: A Critical Review of Theories and Evidence

Directory of Open Access Journals (Sweden)

Ya Zheng

2017-09-01

Full Text Available Fairness-related decision making is an important issue in the field of decision making. Traditional theories emphasize the roles of inequity aversion and reciprocity, whereas recent research increasingly shows that emotion plays a critical role in this type of decision making. In this review, we summarize the influences of three types of emotions (i.e., the integral emotion experienced at the time of decision making, the incidental emotion aroused by a task-unrelated dispositional or situational source, and the interaction of emotion and cognition on fairness-related decision making. Specifically, we first introduce three dominant theories that describe how emotion may influence fairness-related decision making (i.e., the wounded pride/spite model, affect infusion model, and dual-process model. Next, we collect behavioral and neural evidence for and against these theories. Finally, we propose that future research on fairness-related decision making should focus on inducing incidental social emotion, avoiding irrelevant emotion when regulating, exploring the individual differences in emotional dispositions, and strengthening the ecological validity of the paradigm.

The Influence of Emotion on Fairness-Related Decision Making: A Critical Review of Theories and Evidence

Science.gov (United States)

Zheng, Ya; Yang, Zhong; Jin, Chunlan; Qi, Yue; Liu, Xun

2017-01-01

Fairness-related decision making is an important issue in the field of decision making. Traditional theories emphasize the roles of inequity aversion and reciprocity, whereas recent research increasingly shows that emotion plays a critical role in this type of decision making. In this review, we summarize the influences of three types of emotions (i.e., the integral emotion experienced at the time of decision making, the incidental emotion aroused by a task-unrelated dispositional or situational source, and the interaction of emotion and cognition) on fairness-related decision making. Specifically, we first introduce three dominant theories that describe how emotion may influence fairness-related decision making (i.e., the wounded pride/spite model, affect infusion model, and dual-process model). Next, we collect behavioral and neural evidence for and against these theories. Finally, we propose that future research on fairness-related decision making should focus on inducing incidental social emotion, avoiding irrelevant emotion when regulating, exploring the individual differences in emotional dispositions, and strengthening the ecological validity of the paradigm. PMID:28974937

The Influence of Emotion on Fairness-Related Decision Making: A Critical Review of Theories and Evidence.

Science.gov (United States)

Zheng, Ya; Yang, Zhong; Jin, Chunlan; Qi, Yue; Liu, Xun

2017-01-01

Fairness-related decision making is an important issue in the field of decision making. Traditional theories emphasize the roles of inequity aversion and reciprocity, whereas recent research increasingly shows that emotion plays a critical role in this type of decision making. In this review, we summarize the influences of three types of emotions (i.e., the integral emotion experienced at the time of decision making, the incidental emotion aroused by a task-unrelated dispositional or situational source, and the interaction of emotion and cognition) on fairness-related decision making. Specifically, we first introduce three dominant theories that describe how emotion may influence fairness-related decision making (i.e., the wounded pride/spite model, affect infusion model, and dual-process model). Next, we collect behavioral and neural evidence for and against these theories. Finally, we propose that future research on fairness-related decision making should focus on inducing incidental social emotion, avoiding irrelevant emotion when regulating, exploring the individual differences in emotional dispositions, and strengthening the ecological validity of the paradigm.

Decision-making regarding organ donation in Korean adults: A grounded-theory study.

Science.gov (United States)

Yeun, Eun Ja; Kwon, Young Mi; Kim, Jung A

2015-06-01

The aim of this study was to identify the hidden patterns of behavior leading toward the decision to donate organs. Thirteen registrants at the Association for Organ Sharing in Korea were recruited. Data were collected using in-depth interview and the interview transcripts were analyzed using Glaserian grounded-theory methodology. The main problem of participants was "body attachment" and the core category (management process) was determined to be "pursuing life." The theme consisted of four phases, which were: "hesitating," "investigating," "releasing," and "re-discovering. " Therefore, to increase organ donations, it is important to find a strategy that will create positive attitudes about organ donation through education and public relations. These results explain and provide a deeper understanding of the main problem that Korean people have about organ donation and their management of decision-making processes. These findings can help care providers to facilitate the decision-making process and respond to public needs while taking into account the sociocultural context within which decisions are made. © 2014 Wiley Publishing Asia Pty Ltd.

Consensual decision-making model based on game theory for LNG processes

International Nuclear Information System (INIS)

Castillo, Luis; Dorao, Carlos A.

2012-01-01

Highlights: ► A Decision Making (DM) approach for LNG projects based on game theory is presented. ► DM framework was tested with two different cases, using analytical models and a simple LNG process. ► The problems were solved by using a Genetic Algorithm (GA) binary coding and Nash-GA. ► Integrated models from the design and optimization of the process could result in more realistic outcome. ► The major challenge in such a framework is related to the uncertainties in the market models. - Abstract: Decision-Making (DM) in LNG projects is a quite complex process due to the number of actors, approval phases, large investments and capital return in the long time. Furthermore, due to the very high investment of a LNG project, a detailed and efficient DM process is required in order to minimize risks. In this work a Decision-Making (DM) approach for LNG projects is presented. The approach is based on a consensus algorithm to address the consensus output over a common value using cost functions within a framework based on game theory. The DM framework was tested with two different cases. The first case was used for evaluating the performance of the framework with analytical models, while the second case corresponds to a simple LNG process. The problems were solved by using a Genetic Algorithm (GA) binary coding and Nash-GA. The results of the DM framework in the LNG project indicate that considering an integrated DM model and including the markets role from the design and optimization of the process more realistic outcome could be obtained. However, the major challenge in such a framework is related to the uncertainties in the market models.

The Use of Game Theory for Making Rational Decisions in Business Negations: A Conceptual Model

Directory of Open Access Journals (Sweden)

Kestutis Peleckis

2016-02-01

Full Text Available Objective: The objective of this paper is a comparative analysis of the world literature on game theory and its applicability for rational decision-making in negotiations and creation of a model supporting strategic decisions in negotiations. Research Design & Methods: Systematic, comparative, logical analysis and synthesis of the scientific literature. In order to create an algorithm of negotiations statements on theory of graphs, game theory and theory of heuristic algorithm were applied. Findings: The article proposes an algorithm which combines the game theory approach with heuristic algorithms in order to reflect the specifics of negotiations better. Such an algorithm can be used to support strategic decisions in negotiations and is useful for better understanding of the strategic management of negotiating processes. Implications & Recommendations: The proposed mathematical algorithm for the strategy formulation of international business negotiations can be used in electronic business negotiations, both as a standalone tool, or as partially requiring support by the negotiator. Contribution & Value Added: The game theory methods support rational solutions in business negotiations, as they enable to analyse the interacting forces. This is particularly relevant in international business negotiations, where participants from different cultures can be faced with numerous uncertainties.

Combination of uncertainty theories and decision-aiding methods for natural risk management in a context of imperfect information

Science.gov (United States)

Tacnet, Jean-Marc; Dupouy, Guillaume; Carladous, Simon; Dezert, Jean; Batton-Hubert, Mireille

2017-04-01

In mountain areas, natural phenomena such as snow avalanches, debris-flows and rock-falls, put people and objects at risk with sometimes dramatic consequences. Risk is classically considered as a combination of hazard, the combination of the intensity and frequency of the phenomenon, and vulnerability which corresponds to the consequences of the phenomenon on exposed people and material assets. Risk management consists in identifying the risk level as well as choosing the best strategies for risk prevention, i.e. mitigation. In the context of natural phenomena in mountainous areas, technical and scientific knowledge is often lacking. Risk management decisions are therefore based on imperfect information. This information comes from more or less reliable sources ranging from historical data, expert assessments, numerical simulations etc. Finally, risk management decisions are the result of complex knowledge management and reasoning processes. Tracing the information and propagating information quality from data acquisition to decisions are therefore important steps in the decision-making process. One major goal today is therefore to assist decision-making while considering the availability, quality and reliability of information content and sources. A global integrated framework is proposed to improve the risk management process in a context of information imperfection provided by more or less reliable sources: uncertainty as well as imprecision, inconsistency and incompleteness are considered. Several methods are used and associated in an original way: sequential decision context description, development of specific multi-criteria decision-making methods, imperfection propagation in numerical modeling and information fusion. This framework not only assists in decision-making but also traces the process and evaluates the impact of information quality on decision-making. We focus and present two main developments. The first one relates to uncertainty and imprecision

An application of prospect theory to a SHM-based decision problem

Science.gov (United States)

Bolognani, Denise; Verzobio, Andrea; Tonelli, Daniel; Cappello, Carlo; Glisic, Branko; Zonta, Daniele

2017-04-01

Decision making investigates choices that have uncertain consequences and that cannot be completely predicted. Rational behavior may be described by the so-called expected utility theory (EUT), whose aim is to help choosing among several solutions to maximize the expectation of the consequences. However, Kahneman and Tversky developed an alternative model, called prospect theory (PT), showing that the basic axioms of EUT are violated in several instances. In respect of EUT, PT takes into account irrational behaviors and heuristic biases. It suggests an alternative approach, in which probabilities are replaced by decision weights, which are strictly related to the decision maker's preferences and may change for different individuals. In particular, people underestimate the utility of uncertain scenarios compared to outcomes obtained with certainty, and show inconsistent preferences when the same choice is presented in different forms. The goal of this paper is precisely to analyze a real case study involving a decision problem regarding the Streicker Bridge, a pedestrian bridge on Princeton University campus. By modelling the manager of the bridge with the EUT first, and with PT later, we want to verify the differences between the two approaches and to investigate how the two models are sensitive to unpacking probabilities, which represent a common cognitive bias in irrational behaviors.

Info-gap decision theory decisions under severe uncertainty

CERN Document Server

Ben-Haim, Yakov

2006-01-01

Everyone makes decisions, but not everyone is a decision analyst. A decision analyst uses quantitative models and computational methods to formulate decision algorithms, assess decision performance, identify and evaluate options, determine trade-offs and risks, evaluate strategies for investigation, and so on. This book is written for decision analysts. The term ""decision analyst"" covers an extremely broad range of practitioners. Virtually all engineers involved in design (of buildings, machines, processes, etc.) or analysis (of safety, reliability, feasibility, etc.) are decision analysts,

Momentary fitting in a fluid environment: A grounded theory of triage nurse decision making.

Science.gov (United States)

Reay, Gudrun; Rankin, James A; Then, Karen L

2016-05-01

Triage nurses control access to the Emergency Department (ED) and make decisions about patient acuity, patient priority, and placement of the patient in the ED. Understanding the processes and strategies that triage nurses use to make decisions is therefore vital for patient safety and the operation of the ED. The aim of the current study was to generate a substantive grounded theory (GT) of decision making by emergency triage Registered Nurses (RNs). Data collection consisted of seven observations of the triage environment at three tertiary care hospitals where RNs conducted triage and twelve interviews with triage RNs. The data were analyzed by constant comparison in accordance with the classical GT method. In the resultant theory, Momentary Fitting in a Fluid Environment, triage is conceptualized as a process consisting of four categories, determining acuity, anticipating needs, managing space, and creating space. The findings indicate that triage RNs continually strive to achieve fit, while simultaneously considering the individual patient and the ED as a whole entity. Triage RNs require appropriately designed triage environments and computer technology that enable them to secure real time knowledge of the ED to maintain situation awareness. Copyright © 2015 Elsevier Ltd. All rights reserved.

Nuclear weapons decision-making; an application of organization theory to the mini-nuke case

International Nuclear Information System (INIS)

Kangas, J.L.

1985-01-01

This dissertation addresses the problem of constructing and developing normative theory responsive to the need for improving the quality of decision-making in the nuclear weapons policy-making. Against the background of a critical evaluation of various paradigms in the literature (systems analysis and opposed-systems designed, the bureaucratic politics model, and the cybernetic theory of decision) an attempt is made to design an alternative analytic framework based on the writings of numerous organization theorists such as Herbert Simon and Kenneth Arrow. The framework is applied to the case of mini-nukes, i.e., proposals in the mid-1970s to develop and deploy tens of thousands of very low-yield (sub-kiloton), miniaturized fission weapons in NATO. Heuristic case study identifies the type of study undertaken in the dissertation in contrast to the more familiar paradigmatic studies identified, for example, with the Harvard Weapons Project. Application of the analytic framework developed in the dissertation of the mini-nuke case resulted in an empirical understanding of why decision making concerning tactical nuclear weapons has been such a complex task and why force modernization issues in particular have been so controversial and lacking in policy resolution

The Price Is Right, but Are the Bids? An Investigation of Rational Decision Theory.

OpenAIRE

Berk, Jonathan B; Hughson, Eric; Vandezande, Kirk

1996-01-01

The television game show The Price Is Right is used as a laboratory to conduct a preference-free test of rational decision theory in an environment with substantial economic incentives. It is found that contestants' strategies are transparently suboptimal. In response to this evidence, simple rules of thumb are developed that are shown to explain observed bidding patterns better than rational decision theory. Further, learning during the show reduces the frequency of strategic errors. This is...

The Effect of Conflict Theory Based Decision-Making Skill Training Psycho-Educational Group Experience on Decision Making Styles of Adolescents

Science.gov (United States)

Colakkadioglu, Oguzhan; Gucray, S. Sonay

2012-01-01

In this study, the effect of conflict theory based decision making skill training group applications on decision making styles of adolescents was investigated. A total of 36 students, including 18 students in experimental group and 18 students in control group, participated in the research. When assigning students to experimental group or control…

Do the right thing: the assumption of optimality in lay decision theory and causal judgment.

Science.gov (United States)

Johnson, Samuel G B; Rips, Lance J

2015-03-01

Human decision-making is often characterized as irrational and suboptimal. Here we ask whether people nonetheless assume optimal choices from other decision-makers: Are people intuitive classical economists? In seven experiments, we show that an agent's perceived optimality in choice affects attributions of responsibility and causation for the outcomes of their actions. We use this paradigm to examine several issues in lay decision theory, including how responsibility judgments depend on the efficacy of the agent's actual and counterfactual choices (Experiments 1-3), individual differences in responsibility assignment strategies (Experiment 4), and how people conceptualize decisions involving trade-offs among multiple goals (Experiments 5-6). We also find similar results using everyday decision problems (Experiment 7). Taken together, these experiments show that attributions of responsibility depend not only on what decision-makers do, but also on the quality of the options they choose not to take. Copyright © 2015 Elsevier Inc. All rights reserved.

A tri-reference point theory of decision making under risk.

Science.gov (United States)

Wang, X T; Johnson, Joseph G

2012-11-01

The tri-reference point (TRP) theory takes into account minimum requirements (MR), the status quo (SQ), and goals (G) in decision making under risk. The 3 reference points demarcate risky outcomes and risk perception into 4 functional regions: success (expected value of x ≥ G), gain (SQ G > SQ. We present TRP assumptions and value functions and a mathematical formalization of the theory. We conducted empirical tests of crucial TRP predictions using both explicit and implicit reference points. We show that decision makers consider both G and MR and give greater weight to MR than G, indicating failure aversion (i.e., the disutility of a failure is greater than the utility of a success in the same task) in addition to loss aversion (i.e., the disutility of a loss is greater than the utility of the same amount of gain). Captured by a double-S shaped value function with 3 inflection points, risk preferences switched between risk seeking and risk aversion when the distribution of a gamble straddled a different reference point. The existence of MR (not G) significantly shifted choice preference toward risk aversion even when the outcome distribution of a gamble was well above the MR. Single reference point based models such as prospect theory cannot consistently account for these findings. The TRP theory provides simple guidelines for evaluating risky choices for individuals and organizational management. (PsycINFO Database Record (c) 2012 APA, all rights reserved).

Decision Making in Manufacturing Environment Using Graph Theory and Fuzzy Multiple Attribute Decision Making Methods Volume 2

CERN Document Server

Rao, R Venkata

2013-01-01

Decision Making in Manufacturing Environment Using Graph Theory and Fuzzy Multiple Attribute Decision Making Methods presents the concepts and details of applications of MADM methods. A range of methods are covered including Analytic Hierarchy Process (AHP), Technique for Order Preference by Similarity to Ideal Solution (TOPSIS), VIšekriterijumsko KOmpromisno Rangiranje (VIKOR), Data Envelopment Analysis (DEA), Preference Ranking METHod for Enrichment Evaluations (PROMETHEE), ELimination Et Choix Traduisant la Realité (ELECTRE), COmplex PRoportional ASsessment (COPRAS), Grey Relational Analysis (GRA), UTility Additive (UTA), and Ordered Weighted Averaging (OWA). The existing MADM methods are improved upon and three novel multiple attribute decision making methods for solving the decision making problems of the manufacturing environment are proposed. The concept of integrated weights is introduced in the proposed subjective and objective integrated weights (SOIW) method and the weighted Euclidean distance ba...

Decision making in a multidisciplinary cancer team: does team discussion result in better quality decisions?

Science.gov (United States)

Kee, Frank; Owen, Tracy; Leathem, Ruth

2004-01-01

To establish whether treatment recommendations made by clinicians concur with the best outcomes predicted from their prognostic estimates and whether team discussion improves the quality or outcome of their decision making, the authors studied real-time decision making by a lung cancer team. Clinicians completed pre- and postdiscussion questionnaires for 50 newly diagnosed patients. For each patient/doctor pairing, a decision model determined the expected patient outcomes from the clinician's prognostic estimates. The difference between the expected utility of the recommended treatment and the maximum utility derived from the clinician's predictions of the outcomes (the net utility loss) following all potential treatment modalities was calculated as an indicator of quality of the decision. The proportion of treatment decisions changed by the multidisciplinary team discussion was also calculated. Insofar as the change in net utility loss brought about by multidisciplinary team discussion was not significantly different from zero, team discussion did not improve the quality of decision making overall. However, given the modest power of the study, these findings must be interpreted with caution. In only 23 of 87 instances (26%) in which an individual specialist's initial treatment preference differed from the final group judgment did the specialist finally concur with the group treatment choice after discussion. This study does not support the theory that team discussion improves decision making by closing a knowledge gap.

Decision Making Models in the Financial Market: A Study in the Light of Prospect Theory and Limited Rationality

Directory of Open Access Journals (Sweden)

Alex Diego Souza Queiroz

2016-09-01

Full Text Available The objective of this study was to determine whether the decision-making models present in Prospect Theory and the theory of limited rationality could help managers of financial institutions identify and control the emotions and rational limitations involved in the credit granting process in the financial market. To this end, a study was carried out with 17 bank managers as experimental group and 31 other managers from different areas as control group. Adopting a quantitative approach to research, questionnaires were sent electronically to a number of bank branches. Five scenarios were presented, seeking to identify the influence of behavioral factors on decisions in situations of risk. In addition, emotional triggers were included in some questions in order to verify the influence of this component on responses. Results were treated with SPSS software, using descriptive analysis of data and the statistical test Chi-square (χ². Results observed for the five scenarios indicated that emotions and limited rationality in complex environments tend to influence managers in their decision-making process. The study evidence suggests differences in decision-making in accordance with how the problem is presented.

Decision-making in Swiss home-like childbirth: A grounded theory study.

Science.gov (United States)

Meyer, Yvonne; Frank, Franziska; Schläppy Muntwyler, Franziska; Fleming, Valerie; Pehlke-Milde, Jessica

2017-12-01

Decision-making in midwifery, including a claim for shared decision-making between midwives and women, is of major significance for the health of mother and child. Midwives have little information about how to share decision-making responsibilities with women, especially when complications arise during birth. To increase understanding of decision-making in complex home-like birth settings by exploring midwives' and women's perspectives and to develop a dynamic model integrating participatory processes for making shared decisions. The study, based on grounded theory methodology, analysed 20 interviews of midwives and 20 women who had experienced complications in home-like births. The central phenomenon that arose from the data was "defining/redefining decision as a joint commitment to healthy childbirth". The sub-indicators that make up this phenomenon were safety, responsibility, mutual and personal commitments. These sub-indicators were also identified to influence temporal conditions of decision-making and to apply different strategies for shared decision-making. Women adopted strategies such as delegating a decision, making the midwife's decision her own, challenging a decision or taking a decision driven by the dynamics of childbirth. Midwives employed strategies such as remaining indecisive, approving a woman's decision, making an informed decision or taking the necessary decision. To respond to recommendations for shared responsibility for care, midwives need to strengthen their shared decision-making skills. The visual model of decision-making in childbirth derived from the data provides a framework for transferring clinical reasoning into practice. Copyright © 2017 Australian College of Midwives. Published by Elsevier Ltd. All rights reserved.

Prospect Theory and the Risks Involved in Decision-Making: Content Analysis in ProQuest Articles

Directory of Open Access Journals (Sweden)

Sady Darcy da Silva-Junior

2016-04-01

Full Text Available In this study, the objective is to perform content analysis on articles of a reliable database, dealing with the prospect theory and the risks involved in the decision making process, evaluating some criteria for the theoretical and methodological approaches that allow a joint analysis and comparative. Therefore, a search in ProQuest database was performed which resulted in 15 articles that were submitted to content analysis process, based on the evaluation of nine factors identified by researchers. Among the results highlight the critical attitude to the prospect theory, in contrast to the assertion of his representative capacity of real situations and application in various situations.

Rational decisions

CERN Document Server

Binmore, Ken

2008-01-01

It is widely held that Bayesian decision theory is the final word on how a rational person should make decisions. However, Leonard Savage--the inventor of Bayesian decision theory--argued that it would be ridiculous to use his theory outside the kind of small world in which it is always possible to ""look before you leap."" If taken seriously, this view makes Bayesian decision theory inappropriate for the large worlds of scientific discovery and macroeconomic enterprise. When is it correct to use Bayesian decision theory--and when does it need to be modified? Using a minimum of mathematics,

Decision-making theories and their usefulness to the midwifery profession both in terms of midwifery practice and the education of midwives.

Science.gov (United States)

Jefford, Elaine; Fahy, Kathleen; Sundin, Deborah

2011-06-01

What are the strengths and limitations of existing Decision-Making Theories as a basis for guiding best practice clinical decision-making within a framework of midwifery philosophy? Each theory is compared in relation with how well they provide a teachable framework for midwifery clinical reasoning that is consistent with midwifery philosophy. Hypothetico-Deductive Theory, from which medical clinical reasoning is based; intuitive decision-making; Dual Processing Theory; The International Confederation of Midwives Clinical Decision-Making Framework; Australian Nursing and Midwifery Council Midwifery Practice Decisions Flowchart and Midwifery Practice. Best practice midwifery clinical Decision-Making Theory needs to give guidance about: (i) effective use of cognitive reasoning processes; (ii) how to include contextual and emotional factors; (iii) how to include the interests of the baby as an integral part of the woman; (iv) decision-making in partnership with woman; and (v) how to recognize/respond to clinical situations outside the midwife's legal/personal scope of practice. No existing Decision-Making Theory meets the needs of midwifery. Medical clinical reasoning has a good contribution to make in terms of cognitive reasoning processes. Two limitations of medical clinical reasoning are its reductionistic focus and privileging of reason to the exclusion of emotional and contextual factors. Hypothetico-deductive clinical reasoning is a necessary but insufficient condition for best practice clinical decision-making in midwifery. © 2011 Blackwell Publishing Asia Pty Ltd.

Using the Reliability Theory for Assessing the Decision Confidence Probability for Comparative Life Cycle Assessments.

Science.gov (United States)

Wei, Wei; Larrey-Lassalle, Pyrène; Faure, Thierry; Dumoulin, Nicolas; Roux, Philippe; Mathias, Jean-Denis

2016-03-01

Comparative decision making process is widely used to identify which option (system, product, service, etc.) has smaller environmental footprints and for providing recommendations that help stakeholders take future decisions. However, the uncertainty problem complicates the comparison and the decision making. Probability-based decision support in LCA is a way to help stakeholders in their decision-making process. It calculates the decision confidence probability which expresses the probability of a option to have a smaller environmental impact than the one of another option. Here we apply the reliability theory to approximate the decision confidence probability. We compare the traditional Monte Carlo method with a reliability method called FORM method. The Monte Carlo method needs high computational time to calculate the decision confidence probability. The FORM method enables us to approximate the decision confidence probability with fewer simulations than the Monte Carlo method by approximating the response surface. Moreover, the FORM method calculates the associated importance factors that correspond to a sensitivity analysis in relation to the probability. The importance factors allow stakeholders to determine which factors influence their decision. Our results clearly show that the reliability method provides additional useful information to stakeholders as well as it reduces the computational time.

On the consistency of risk acceptance criteria with normative theories for decision-making

Energy Technology Data Exchange (ETDEWEB)

Abrahamsen, E.B. [University of Stavanger, 4036 Stavanger (Norway)], E-mail: eirik.abrahamsen@uis.no; Aven, T. [University of Stavanger, 4036 Stavanger (Norway)

2008-12-15

In evaluation of safety in projects it is common to use risk acceptance criteria to support decision-making. In this paper, we discuss to what extent the risk acceptance criteria is in accordance with the normative theoretical framework of the expected utility theory and the rank-dependent utility theory. We show that the use of risk acceptance criteria may violate the independence axiom of the expected utility theory and the comonotonic independence axiom of the rank-dependent utility theory. Hence the use of risk acceptance criteria is not in general consistent with these theories. The level of inconsistency is highest for the expected utility theory.

On the consistency of risk acceptance criteria with normative theories for decision-making

International Nuclear Information System (INIS)

Abrahamsen, E.B.; Aven, T.

2008-01-01

In evaluation of safety in projects it is common to use risk acceptance criteria to support decision-making. In this paper, we discuss to what extent the risk acceptance criteria is in accordance with the normative theoretical framework of the expected utility theory and the rank-dependent utility theory. We show that the use of risk acceptance criteria may violate the independence axiom of the expected utility theory and the comonotonic independence axiom of the rank-dependent utility theory. Hence the use of risk acceptance criteria is not in general consistent with these theories. The level of inconsistency is highest for the expected utility theory

Risk perception and communication in vaccination decisions: a fuzzy-trace theory approach.

Science.gov (United States)

Reyna, Valerie F

2012-05-28

The tenets of fuzzy-trace theory, along with prior research on risk perception and risk communication, are used to develop a process model of vaccination decisions in the era of Web 2.0. The theory characterizes these decisions in terms of background knowledge, dual mental representations (verbatim and gist), retrieval of values, and application of values to representations in context. Lack of knowledge interferes with the ability to extract the essential meaning, or gist, of vaccination messages. Prevention decisions have, by definition, a status quo option of "feeling okay." Psychological evidence from other prevention decisions, such as cancer screening, indicates that many people initially mentally represent their decision options in terms of simple, categorical gist: a choice between (a) a feeling-okay option (e.g., the unvaccinated status quo) versus (b) taking up preventive behavior that can have two potential categorical outcomes: feeling okay or not feeling okay. Hence, applying the same theoretical rules as used to explain framing effects and the Allais paradox, the decision to get a flu shot, for example, boils down to feeling okay (not sick) versus feeling okay (not sick) or not feeling okay (sick, side effects, or death). Because feeling okay is superior to not feeling okay (a retrieved value), this impoverished gist supports choosing not to have the flu vaccine. Anti-vaccination sources provide more coherent accounts of the gist of vaccination than official sources, filling a need to understand rare adverse outcomes. Copyright © 2011 Elsevier Ltd. All rights reserved.

How Reasoning, Judgment, and Decision Making are Colored by Gist-based Intuition: A Fuzzy-Trace Theory Approach.

Science.gov (United States)

Corbin, Jonathan C; Reyna, Valerie F; Weldon, Rebecca B; Brainerd, Charles J

2015-12-01

Fuzzy-trace theory distinguishes verbatim (literal, exact) from gist (meaningful) representations, predicting that reliance on gist increases with experience and expertise. Thus, many judgment-and-decision-making biases increase with development, such that cognition is colored by context in ways that violate logical coherence and probability theories. Nevertheless, this increase in gist-based intuition is adaptive: Gist is stable, less sensitive to interference, and easier to manipulate. Moreover, gist captures the functionally significant essence of information, supporting healthier and more robust decision processes. We describe how fuzzy-trace theory accounts for judgment-and-decision making phenomena, predicting the paradoxical arc of these processes with the development of experience and expertise. We present data linking gist memory processes to gist processing in decision making and provide illustrations of gist reliance in medicine, public health, and intelligence analysis.

[Prediction of regional soil quality based on mutual information theory integrated with decision tree algorithm].

Science.gov (United States)

Lin, Fen-Fang; Wang, Ke; Yang, Ning; Yan, Shi-Guang; Zheng, Xin-Yu

2012-02-01

In this paper, some main factors such as soil type, land use pattern, lithology type, topography, road, and industry type that affect soil quality were used to precisely obtain the spatial distribution characteristics of regional soil quality, mutual information theory was adopted to select the main environmental factors, and decision tree algorithm See 5.0 was applied to predict the grade of regional soil quality. The main factors affecting regional soil quality were soil type, land use, lithology type, distance to town, distance to water area, altitude, distance to road, and distance to industrial land. The prediction accuracy of the decision tree model with the variables selected by mutual information was obviously higher than that of the model with all variables, and, for the former model, whether of decision tree or of decision rule, its prediction accuracy was all higher than 80%. Based on the continuous and categorical data, the method of mutual information theory integrated with decision tree could not only reduce the number of input parameters for decision tree algorithm, but also predict and assess regional soil quality effectively.

Item response theory analysis of the Lichtenberg Financial Decision Screening Scale.

Science.gov (United States)

Teresi, Jeanne A; Ocepek-Welikson, Katja; Lichtenberg, Peter A

2017-01-01

The focus of these analyses was to examine the psychometric properties of the Lichtenberg Financial Decision Screening Scale (LFDSS). The purpose of the screen was to evaluate the decisional abilities and vulnerability to exploitation of older adults. Adults aged 60 and over were interviewed by social, legal, financial, or health services professionals who underwent in-person training on the administration and scoring of the scale. Professionals provided a rating of the decision-making abilities of the older adult. The analytic sample included 213 individuals with an average age of 76.9 (SD = 10.1). The majority (57%) were female. Data were analyzed using item response theory (IRT) methodology. The results supported the unidimensionality of the item set. Several IRT models were tested. Ten ordinal and binary items evidenced a slightly higher reliability estimate (0.85) than other versions and better coverage in terms of the range of reliable measurement across the continuum of financial incapacity.

The effect of the emotive decisions in prospect theory.

Science.gov (United States)

Bonavia, Tomas

2014-12-29

The main purpose of this paper was to show that the certainty and reflection effects of prospect theory do not occur when stimuli have an affective value. To this end, 160 participants were asked to reply to a series of problems originally designed by Kahneman and Tversky (1979), but modified according to the contributions of Rottenstreich and Hsee (2001). The sample was divided into four experimental conditions, two in a gain situation and two in a loss situation. In both cases, affect-rich and affect-poor stimuli were applied in sure and probable alternatives. The findings showed that, in agreement with our hypotheses, the affective value of the stimuli altered the outcome predicted by prospect theory, showing response patterns contrary to certainty and reflection effects (p ≤ .01 and p ≤ .05 respectively). Therefore, this research supports the influence of the emotions in the decision-making process, and should be extended to other aspects of prospect theory.

Decision-making: Theory and practice

OpenAIRE

SM Turpin; MA Marais

2004-01-01

This paper compares a number of theoretical models of decision-making with the way in which senior managers make decisions in practice. Six prominent decision-makers were interviewed about their own decision-making style, as well as their use of decision support technology. Significant variation was found in personal decision-making styles. However, some central themes emerged, such as the importance of sensitivity to the decision-making context, attention to the presentation of information, ...

Framing effects and risk-sensitive decision making.

Science.gov (United States)

Mishra, Sandeep; Gregson, Margaux; Lalumière, Martin L

2012-02-01

Prospect theory suggests that people are risk-averse when facing gains, but risk-prone when facing losses, a pattern known as the framing effect. Although framing effects have been widely demonstrated, few studies have investigated framing effects under conditions of need. Risk-sensitivity theory predicts that decision makers should prefer high-risk options in situations of high need, when lower risk options are unlikely to meet those needs. In two experiments, we examined (1) whether framing effects occurred in behavioural tasks involving risky decision making from description and decision making from experience, (2) whether participants' risky decision making conformed to the predictions of risk-sensitivity theory, and (3) whether decision framing interacted with conditions of need to influence decision making under risk. The results suggest that under all circumstances, risky decision making conformed to the predictions of risk-sensitivity theory. Framing effects were at least partially demonstrable under all experimental conditions. Finally, negative frames interacted with situations of high need to produce particularly elevated levels of risky choice. Together, the results suggest that risk-sensitivity theory can augment prospect theory to explain choice under conditions of need. ©2011 The British Psychological Society.

Hesitant Fuzzy Thermodynamic Method for Emergency Decision Making Based on Prospect Theory.

Science.gov (United States)

Ren, Peijia; Xu, Zeshui; Hao, Zhinan

2017-09-01

Due to the timeliness of emergency response and much unknown information in emergency situations, this paper proposes a method to deal with the emergency decision making, which can comprehensively reflect the emergency decision making process. By utilizing the hesitant fuzzy elements to represent the fuzziness of the objects and the hesitant thought of the experts, this paper introduces the negative exponential function into the prospect theory so as to portray the psychological behaviors of the experts, which transforms the hesitant fuzzy decision matrix into the hesitant fuzzy prospect decision matrix (HFPDM) according to the expectation-levels. Then, this paper applies the energy and the entropy in thermodynamics to take the quantity and the quality of the decision values into account, and defines the thermodynamic decision making parameters based on the HFPDM. Accordingly, a whole procedure for emergency decision making is conducted. What is more, some experiments are designed to demonstrate and improve the validation of the emergency decision making procedure. Last but not the least, this paper makes a case study about the emergency decision making in the firing and exploding at Port Group in Tianjin Binhai New Area, which manifests the effectiveness and practicability of the proposed method.

Public Affairs Decision Making in the U.S. Air Force: An Application of Multiattribute Utility Theory.

Science.gov (United States)

David, Prabu; Pierson, Michael M.

1998-01-01

Contributes to scholarship on public relations decision making and public relations theory. Examines decision making by United States Air Force public affairs personnel. Finds that only 48% of the decisions fit the public relations excellence criteria of accommodation and long-term relationship building. Finds also a negative correlation between…

Games and decisions introduction and critical survey

CERN Document Server

Luce, R Duncan

1989-01-01

""The best book available for non-mathematicians."" - Contemporary Psychology.This book represents the earliest clear, detailed, precise exposition of the central ideas and results of game theory and related decision-making models - unencumbered by technical mathematical details. It offers a comprehensive, time-tested conceptual introduction, with a social science orientation, to a complex of ideas related to game theory including decision theory, modern utility theory, the theory of statistical decisions, and the theory of social welfare functions. The first three chapters provide a general i

Rational decision perspectives on alcohol consumption by youth. Revising the theory of planned behavior.

Science.gov (United States)

Kuther, Tara L

2002-01-01

Cognitive and developmental approaches have made great strides in describing and predicting alcohol consumption by youth. The present review examines several theories of decision making with regard to alcohol consumption, including subjective expected utility (SEU) theory, the theories of reasoned action and planned behavior, and alcohol-related outcome expectancy theory. In addition, the developmental literature on the contribution of parents and peers to adolescent alcohol consumption is reviewed. A model is proposed, which integrates the theory of planned behavior and alcohol-related outcome expectancy theory with modifications based on findings from the developmental literature. Implications for further research are discussed.

Decision-making under risk. An overview of some alternative utility theories; Beslissingen onder risico. Een overzicht van enkele alternatieve nutstheorieen

Energy Technology Data Exchange (ETDEWEB)

Pauwels, N.; Van Woensel, T

1998-09-01

Decision-makers often have to take decisions with unknown consequences that depend on various events which on their turn can take place a certain chance. Under the given circumstances, the traditional decision criterion is based on the maximisation of the expected benefits. Experimental studies have however revealed important inconsistencies between decisions taken on the basis of this decision criterion on the one hand and the observed decisions on the other hand. The report gives an overview of a number of alternative theories extending or adapting the traditional theory in view of avoiding the observed inconsistencies.

Decision-making: Theory and practice

Directory of Open Access Journals (Sweden)

SM Turpin

2004-12-01

Full Text Available This paper compares a number of theoretical models of decision-making with the way in which senior managers make decisions in practice. Six prominent decision-makers were interviewed about their own decision-making style, as well as their use of decision support technology. Significant variation was found in personal decision-making styles. However, some central themes emerged, such as the importance of sensitivity to the decision-making context, attention to the presentation of information, and the use of intuition. In terms of the use of decision support technology, the use of self-help tools, such as office software, was clearly favoured.

Actor-network-theory perspective on a forestry decision support system design

NARCIS (Netherlands)

Boerboom, L.G.J.; Ferritti, V.

2014-01-01

Use of decision support systems (DSS) has thus far been framed as a social process of adoption or technical process of usability. We analyze the development of a DSS as a process of institutionalization of new as well as drift of existing practices. We write an Actor-Network-Theory (ANT) account,

Hybrid Multicriteria Group Decision Making Method for Information System Project Selection Based on Intuitionistic Fuzzy Theory

Directory of Open Access Journals (Sweden)

Jian Guo

2013-01-01

Full Text Available Information system (IS project selection is of critical importance to every organization in dynamic competing environment. The aim of this paper is to develop a hybrid multicriteria group decision making approach based on intuitionistic fuzzy theory for IS project selection. The decision makers’ assessment information can be expressed in the form of real numbers, interval-valued numbers, linguistic variables, and intuitionistic fuzzy numbers (IFNs. All these evaluation pieces of information can be transformed to the form of IFNs. Intuitionistic fuzzy weighted averaging (IFWA operator is utilized to aggregate individual opinions of decision makers into a group opinion. Intuitionistic fuzzy entropy is used to obtain the entropy weights of the criteria. TOPSIS method combined with intuitionistic fuzzy set is proposed to select appropriate IS project in group decision making environment. Finally, a numerical example for information system projects selection is given to illustrate application of hybrid multi-criteria group decision making (MCGDM method based on intuitionistic fuzzy theory and TOPSIS method.

A decision theory perspective on why women do or do not decide to have cancer screening: systematic review.

Science.gov (United States)

Ackerson, Kelly; Preston, Stephanie D

2009-06-01

This paper is a report of a review in which decision theory from economics and psychology was applied to understand why some women with access to care do not seek cancer screening. Mammography and cervical smear testing are effective modes of cancer screening, yet many women choose not to be screened. Nurses need to understand the reasons behind women's choices to improve adherence. Research papers published between January 1994 and November 2008 were identified using the Cumulative Index to Nursing and Allied Health Literature, MEDLINE and PsycINFO data bases. The search was performed using the following terms: cervical cancer screening, breast cancer screening, decision, choice, adherence and framing. Forty-seven papers were identified and reviewed for relevance to the search criteria. Nineteen papers met the search criteria. For each paper, reasons for obtaining or not obtaining cancer screening were recorded, and organized into four relevant decision theory principles: emotions, Prospect Theory, optimism bias and framing. All women have fears and uncertainty, but the sources of their fears differ, producing two main decision scenarios. Non-adherence results when women fear medical examinations, providers, tests and procedures, do not have/seek knowledge about risk and frame their current health as the status quo. Adherence is achieved when women fear cancer, but trust care providers, seek knowledge, understand risk and frame routine care as the status quo. Nurses need to address proactively women's perceptions and knowledge about screening by openly and uniformly discussing the importance and benefits.

Top-Management Decision Making and Strategies : An Approach to a Theory of Leadership-Initiated Strategies(General Contribution)

OpenAIRE

藤田, 東久夫; Tokuo, FUJITA; 株式会社サトー; Sato Corporation

2006-01-01

The article clarifies the relationship between top-management decisions and strategies. Whereas prior theoretical treatments of top-management strategies are both logical and managerial, the author recognizes the ad hoc nature of top-management decisions, which rely upon intuition and inspiration, and proposes a theory of strategies that emerge through top-management leadership. This theory of leadership-initiated strategies sees a balance between leadership and management functions as essent...

A Mental Value Perspective in Risk Decision Theory

Directory of Open Access Journals (Sweden)

Alexandru Trifu

2006-09-01

Full Text Available This work is based on Prospect theory, which was developed by D. Kahneman and A. Tversky in 1979. This is one the most quoted and best-documented point of view in economic psychology. First of all, it replaces, once again, the notion of utility with value. But value is defined in terms of gains and losses and this, according with an irrational human tendency to be less willing to gamble with profits than with losses. So, we discover the great importance of these assumptions in the field of risk decision-making, especially for firms’ activity in the marketplace.

A Mental Value Perspective in Risk Decision Theory

Directory of Open Access Journals (Sweden)

Roxana Davidescu

2006-07-01

Full Text Available This work is based on Prospect theory, which was developed by D. Kahneman and A. Tversky in 1979. This is one the most quoted and best-documented point of view in economic psychology. First of all, it replaces, once again, the notion of utility with value. But value is defined in terms of gains and losses and this, according with an irrational human tendency to be less willing to gamble with profits than with losses. So, we discover the great importance of these assumptions in the field of risk decision-making, especially for firms’ activity in the marketplace.

Quantum decision-maker theory and simulation

Science.gov (United States)

Zak, Michail; Meyers, Ronald E.; Deacon, Keith S.

2000-07-01

A quantum device simulating the human decision making process is introduced. It consists of quantum recurrent nets generating stochastic processes which represent the motor dynamics, and of classical neural nets describing the evolution of probabilities of these processes which represent the mental dynamics. The autonomy of the decision making process is achieved by a feedback from the mental to motor dynamics which changes the stochastic matrix based upon the probability distribution. This feedback replaces unavailable external information by an internal knowledge- base stored in the mental model in the form of probability distributions. As a result, the coupled motor-mental dynamics is described by a nonlinear version of Markov chains which can decrease entropy without an external source of information. Applications to common sense based decisions as well as to evolutionary games are discussed. An example exhibiting self-organization is computed using quantum computer simulation. Force on force and mutual aircraft engagements using the quantum decision maker dynamics are considered.

Motivation, working memory, and decision making: a cognitive-motivational theory of personality vulnerability to alcoholism.

Science.gov (United States)

Finn, Peter R

2002-09-01

This article presents a cognitive-motivational theory (CMT) of the mechanisms associated with three basic dimensions of personality vulnerability to alcoholism, impulsivity/novelty seeking, harm avoidance, and excitement seeking. CMT describes the interrelationships between activity in basic motivational systems and attentional, decision-making and working memory processes as the mechanisms associated with variation in each personality trait. Impulsivity/novelty seeking reflects activity in both appetitive and inhibitory motivational systems, greater attention to reward cues, and increased emotional reactivity to reward and frustration. Harm avoidance reflects individual differences in fearfulness and activity in specific inhibitory systems. Excitement seeking reflects the need to engage in appetitive behaviors in less predictable environments to experience positive affect. CMT also describes the impact of working memory and the specific motivational processes underlying each trait dimension on the dynamics of decision making from the perspective of decision field theory.

Location Decisions of U.S. Polluting Plants. Theory, Empirical Evidence, and Consequences

International Nuclear Information System (INIS)

Shadbegian, R.; Wolverton, A.

2010-01-01

Economists have long been interested in explaining the spatial distribution of economic activity, focusing on what factors motivate profit-maximizing firms when they choose to open a new plant or expand an existing facility. We begin our paper with a general discussion of the theory of plant location, including the role of taxes and agglomeration economies. However, our paper focuses on the theory, evidence, and implications of the role of environmental regulations in plant location decisions. On its face, environmental regulation would not necessarily be expected to alter location decisions, since we would expect Federal regulation to affect all locations in the United States essentially equally. It turns out, however, that this is not always the case as some geographic areas are subject to greater stringency. Another source of variation is differences across states in the way they implement and enforce compliance with Federal regulation. In light of these spatial differences in the costs of complying with environmental regulations, we discuss three main questions in this survey: Do environmental regulations affect the location decisions of polluting plants? Do states compete for polluting plants through differences in environmental regulation? And, do firms locate polluting plants disproportionately near poor and minority neighborhoods?.

Location Decisions of U.S. Polluting Plants. Theory, Empirical Evidence, and Consequences

Energy Technology Data Exchange (ETDEWEB)

Shadbegian, R.; Wolverton, A.

2010-06-15

Economists have long been interested in explaining the spatial distribution of economic activity, focusing on what factors motivate profit-maximizing firms when they choose to open a new plant or expand an existing facility. We begin our paper with a general discussion of the theory of plant location, including the role of taxes and agglomeration economies. However, our paper focuses on the theory, evidence, and implications of the role of environmental regulations in plant location decisions. On its face, environmental regulation would not necessarily be expected to alter location decisions, since we would expect Federal regulation to affect all locations in the United States essentially equally. It turns out, however, that this is not always the case as some geographic areas are subject to greater stringency. Another source of variation is differences across states in the way they implement and enforce compliance with Federal regulation. In light of these spatial differences in the costs of complying with environmental regulations, we discuss three main questions in this survey: Do environmental regulations affect the location decisions of polluting plants? Do states compete for polluting plants through differences in environmental regulation? And, do firms locate polluting plants disproportionately near poor and minority neighborhoods?.

The Influence of Emotion on Fairness-Related Decision Making: A Critical Review of Theories and Evidence

OpenAIRE

Ya Zheng; Zhong Yang; Zhong Yang; Chunlan Jin; Yue Qi; Yue Qi; Xun Liu; Xun Liu

2017-01-01

Fairness-related decision making is an important issue in the field of decision making. Traditional theories emphasize the roles of inequity aversion and reciprocity, whereas recent research increasingly shows that emotion plays a critical role in this type of decision making. In this review, we summarize the influences of three types of emotions (i.e., the integral emotion experienced at the time of decision making, the incidental emotion aroused by a task-unrelated dispositional or situatio...

Factors Affecting Christian Parents' School Choice Decision Processes: A Grounded Theory Study

Science.gov (United States)

Prichard, Tami G.; Swezey, James A.

2016-01-01

This study identifies factors affecting the decision processes for school choice by Christian parents. Grounded theory design incorporated interview transcripts, field notes, and a reflective journal to analyze themes. Comparative analysis, including open, axial, and selective coding, was used to reduce the coded statements to five code families:…

The window of opportunity: decision theory and the timing of prognostic tests for newborn infants.

Science.gov (United States)

Wilkinson, Dominic

2009-11-01

In many forms of severe acute brain injury there is an early phase when prognosis is uncertain, followed later by physiological recovery and the possibility of more certain predictions of future impairment. There may be a window of opportunity for withdrawal of life support early, but if decisions are delayed there is the risk that the patient will survive with severe impairment. In this paper I focus on the example of neonatal encephalopathy and the question of the timing of prognostic tests and decisions to continue or to withdraw life-sustaining treatment. Should testing be performed early or later; and how should parents decide what to do given the conflicting values at stake? I apply decision theory to the problem, using sensitivity analysis to assess how different features of the tests or different values would affect a decision to perform early or late prognostic testing. I draw some general conclusions from this model for decisions about the timing of testing in neonatal encephalopathy. Finally I consider possible solutions to the problem posed by the window of opportunity. Decision theory highlights the costs of uncertainty. This may prompt further research into improving prognostic tests. But it may also prompt us to reconsider our current attitudes towards the palliative care of newborn infants predicted to be severely impaired.

Decision making using AHP (Analytic Hierarchy Process) and fuzzy set theory in waste management

International Nuclear Information System (INIS)

Chung, J.Y.; Lee, K.J.; Kim, C.D.

1995-01-01

The major problem is how to consider the differences in opinions, when many experts are involved in decision making process. This paper provides a simple general methodology to treat the differences in various opinions. The authors determined the grade of membership through the process of magnitude estimation derived from pairwise comparisons and AHP developed by Saaty. They used fuzzy set theory to consider the differences in opinions and obtain the priorities for each alternative. An example, which can be applied to radioactive waste management, also was presented. The result shows a good agreement with the results of averaging methods

Theory of mind and decision-making processes are impaired in Parkinson's disease.

Science.gov (United States)

Xi, Chunhua; Zhu, Youling; Mu, Yanfang; Chen, Bing; Dong, Bin; Cheng, Huaidong; Hu, Panpan; Zhu, Chunyan; Wang, Kai

2015-02-15

Prefrontal cortex plays a vital role in the theory of mind (ToM) and decision making, as shown in functional brain imaging and lesion studies. Considering the primary neuropathology of Parkinson's disease (PD) involving the frontal lobe system, patients with PD are expected to exhibit deficits in ToM and social decision making. The aim of this study was to investigate affective ToM and decision making in patients with PD and healthy controls (HC) in a task assessing affective ToM (Reading the Mind in the Eyes, RME) and two decision-making tasks (Iowa Gambling Task, IGT; Game of Dice Task, GDT). Consistent with previous findings, patients with PD were impaired in the affective ToM task, and when making decisions under ambiguity and in risk situations. The score of emotion recognition in the RME task was negatively correlated with the severity of the disease and positively correlated with the total number of advantageous cards chosen in the IGT. However, the final capital in the GDT was correlated with memory impairment. The present study implies that affective ToM and decision making under ambiguity may share similar neural mechanisms, while decision making under ambiguity and decision making under risk may involve processing within different neural networks. Copyright © 2014 Elsevier B.V. All rights reserved.

Decision-making: Theory and Practice

CSIR Research Space (South Africa)

Turpin, SM

2004-01-01

Full Text Available of decision support technology. Much variation was found in people’s personal decision-making styles. However, some central themes emerged, such as the importance of sensitivity to the decision-making context, attention to the presentation of information...

The application of financial options theory to electric utility decision making in integrated resource planning and maintenance shutdowns

International Nuclear Information System (INIS)

Felder, F.

1995-01-01

Increased competition in wholesale power generation will allow electric utilities to use financial models to improve their decision making. This competition will result in the creation of electricity spot, futures, and forward markets, which will provide necessary information for utility executives to used advance financial tools, such as random walk models and options theory. These models will allow executives to place a value on risk. Once this value is known, executives can determine how best to manage that risk, whether by entering into financial transactions, adjusting their operational and planning decisions, or both

Metaphysical Modality, Modality of Predicate and the Theory of "Decisive Necessity”

Directory of Open Access Journals (Sweden)

L. Nabavi

2010-01-01

Full Text Available Aristotle in the Organon (1949: 9,30 a ,15-19 explicitly states that in a categorical syllogism when the minor premise is absolute (without modality operator and the major is necessary, the conclusion will be necessary too. This Aristotle's view has been the source of many conflicts and disputes in the history of logic. The famous logicians and historians of logic in the twentieth century as "Nicholas Rescher" and "Becker" believe that Aristotle's view is justifiable and defensible (at least compared to the first figure only if, the modality of major premise is considered as the property of predicate (modality de re. Today, we know very well that the modality of predicate is closely linked to Metaphysical and philosophical Modality. “Shihab al-Din al- Suhrawardi” in the theory of "Decisive (Battateh Necessity” by accepting this base, explicitly states that, in the beginning, the modality must be mentioned as a part of the predicate and then the modality of relation or copula is summarized and reduced to necessity. The modern formalization of the most important part of this theory is as follows: ("x (àAx É à Bx º ("x □ (àAx É à BxThis paper discusses the historical overview of the metaphysical modality firstly and then shows that the theory of "Decisive Necessity” is true and justified in a model of modal logic with equivalent accessibility relation and homogeneous possible world view (fixed domain.

Salience Theory of Judicial Decisions

OpenAIRE

Pedro Bordalo; Nicola Gennaioli; Andrei Shleifer

2015-01-01

We present a model of judicial decision making in which the judge overweights the salient facts of the case. The context of the judicial decision, which is comparative by nature, shapes which aspects of the case stand out and draw the judge’s attention. By focusing judicial attention on such salient aspects of the case, legally irrelevant information can affect judicial decisions. Our model accounts for a range of recent experimental evidence that bears on the psychology of judicial decisions...

Application of decision-making theory to the regulation of muscular work rate during self-paced competitive endurance activity.

Science.gov (United States)

Renfree, Andrew; Martin, Louise; Micklewright, Dominic; St Clair Gibson, Alan

2014-02-01

Successful participation in competitive endurance activities requires continual regulation of muscular work rate in order to maximise physiological performance capacities, meaning that individuals must make numerous decisions with regards to the muscular work rate selected at any point in time. Decisions relating to the setting of appropriate goals and the overall strategic approach to be utilised are made prior to the commencement of an event, whereas tactical decisions are made during the event itself. This review examines current theories of decision-making in an attempt to explain the manner in which regulation of muscular work is achieved during athletic activity. We describe rational and heuristic theories, and relate these to current models of regulatory processes during self-paced exercise in an attempt to explain observations made in both laboratory and competitive environments. Additionally, we use rational and heuristic theories in an attempt to explain the influence of the presence of direct competitors on the quality of the decisions made during these activities. We hypothesise that although both rational and heuristic models can plausibly explain many observed behaviours in competitive endurance activities, the complexity of the environment in which such activities occur would imply that effective rational decision-making is unlikely. However, at present, many proposed models of the regulatory process share similarities with rational models. We suggest enhanced understanding of the decision-making process during self-paced activities is crucial in order to improve the ability to understand regulation of performance and performance outcomes during athletic activity.

Haemodialysis patients and end-of-life decisions: a theory of personal preservation.

Science.gov (United States)

Calvin, Amy Olivier

2004-06-01

Lack of knowledge about the end-of-life treatment preferences of patients undergoing haemodialysis is problematic in the acute care setting as, often, patients are unable to communicate their treatment wishes effectively and have not previously documented their desires in the form of advance directives. Existing theoretical models offer an incomplete explanation of end-of-life treatment decisions in haemodialysis patients. This paper reports a study exploring decisions about end-of-life treatment (e.g. cardiopulmonary resuscitation, mechanical ventilation) in people with kidney failure undergoing haemodialysis. Grounded theory was used. Theoretical sampling led to selection of 20 haemodialysis patients (11 men and nine women with a mean age of 56) who attended three dialysis outpatient centres in central Texas. They were interviewed about end-of-life treatment plans and the use of advance directives (i.e. living wills and durable powers of attorney for health care). Interviews, transcripts and field notes from the first 12 patients were analysed by making constant comparisons. The remaining eight interviews were used for validation purposes. Data collection and analysis spanned the years 1997-2000. When prompted to think about and discuss end-of-life treatments, haemodialysis patients chose to focus on living rather than dying. A substantive theory of 'personal preservation' was developed. This consists of three phases: knowing the odds for survival, defining individuality (beating the odds, discovering meaning, being optimistic and having faith in a higher force) and personal preservation (being responsible and taking chances). The theory of personal preservation furthers understanding of illness behaviour and the process by which patients make decisions about end-of-life treatments. It can be used to sensitize health care professionals to patients' desires and to enhance patient-professional communication.

Expert Knowledge Influences Decision-Making for Couples Receiving Positive Prenatal Chromosomal Microarray Testing Results.

Science.gov (United States)

Rubel, M A; Werner-Lin, A; Barg, F K; Bernhardt, B A

2017-09-01

To assess how participants receiving abnormal prenatal genetic testing results seek information and understand the implications of results, 27 US female patients and 12 of their male partners receiving positive prenatal microarray testing results completed semi-structured phone interviews. These interviews documented participant experiences with chromosomal microarray testing, understanding of and emotional response to receiving results, factors affecting decision-making about testing and pregnancy termination, and psychosocial needs throughout the testing process. Interview data were analyzed using a modified grounded theory approach. In the absence of certainty about the implications of results, understanding of results is shaped by biomedical expert knowledge (BEK) and cultural expert knowledge (CEK). When there is a dearth of BEK, as in the case of receiving results of uncertain significance, participants rely on CEK, including religious/spiritual beliefs, "gut instinct," embodied knowledge, and social network informants. CEK is a powerful platform to guide understanding of prenatal genetic testing results. The utility of culturally situated expert knowledge during testing uncertainty emphasizes that decision-making occurs within discourses beyond the biomedical domain. These forms of "knowing" may be integrated into clinical consideration of efficacious patient assessment and counseling.

How Different Insights from a Variety of Theories Might Help Ethical Decision-Making in Educational Counselling

Science.gov (United States)

Tveit, Anne Dorthe; Sunde, Annikken Louise

2016-01-01

The purpose of this paper is to explore how different insights from a variety of theories might help ethical decision making in educational counselling and highlight the need for reflection. A framework for ethical decision making based on basic features of counselling, namely the interlocutors' practice or "acts", is proposed. There are…

A competitive interaction theory of attentional selection and decision making in brief, multielement displays.

Science.gov (United States)

Smith, Philip L; Sewell, David K

2013-07-01

We generalize the integrated system model of Smith and Ratcliff (2009) to obtain a new theory of attentional selection in brief, multielement visual displays. The theory proposes that attentional selection occurs via competitive interactions among detectors that signal the presence of task-relevant features at particular display locations. The outcome of the competition, together with attention, determines which stimuli are selected into visual short-term memory (VSTM). Decisions about the contents of VSTM are made by a diffusion-process decision stage. The selection process is modeled by coupled systems of shunting equations, which perform gated where-on-what pathway VSTM selection. The theory provides a computational account of key findings from attention tasks with near-threshold stimuli. These are (a) the success of the MAX model of visual search and spatial cuing, (b) the distractor homogeneity effect, (c) the double-target detection deficit, (d) redundancy costs in the post-stimulus probe task, (e) the joint item and information capacity limits of VSTM, and (f) the object-based nature of attentional selection. We argue that these phenomena are all manifestations of an underlying competitive VSTM selection process, which arise as a natural consequence of our theory. PsycINFO Database Record (c) 2013 APA, all rights reserved.

Theoretical Developments in Decision Field Theory: Comment on Tsetsos, Usher, and Chater (2010)

Science.gov (United States)

Hotaling, Jared M.; Busemeyer, Jerome R.; Li, Jiyun

2010-01-01

Tsetsos, Usher, and Chater (2010) presented several criticisms of decision field theory (DFT) involving its distance function, instability under externally controlled stopping times, and lack of robustness to various multialternative choice scenarios. Here, we counter those claims with a specification of a distance function based on the…

Factors Involved in Juveniles' Decisions about Crime.

Science.gov (United States)

Cimler, Edward; Beach, Lee Roy

1981-01-01

Investigated whether delinquency is the result of a rational decision. The Subjective Expected Utility (SEU) model from decision theory was used with male juvenile offenders (N=45) as the model of the decision process. Results showed that the SEU model predicted 62.7 percent of the subjects' decisions. (Author/RC)

Decision theory for discrimination-aware classification

KAUST Repository

Kamiran, Faisal

2012-12-01

Social discrimination (e.g., against females) arising from data mining techniques is a growing concern worldwide. In recent years, several methods have been proposed for making classifiers learned over discriminatory data discriminationaware. However, these methods suffer from two major shortcomings: (1) They require either modifying the discriminatory data or tweaking a specific classification algorithm and (2) They are not flexible w.r.t. discrimination control and multiple sensitive attribute handling. In this paper, we present two solutions for discrimination-aware classification that neither require data modification nor classifier tweaking. Our first and second solutions exploit, respectively, the reject option of probabilistic classifier(s) and the disagreement region of general classifier ensembles to reduce discrimination. We relate both solutions with decision theory for better understanding of the process. Our experiments using real-world datasets demonstrate that our solutions outperform existing state-ofthe-art methods, especially at low discrimination which is a significant advantage. The superior performance coupled with flexible control over discrimination and easy applicability to multiple sensitive attributes makes our solutions an important step forward in practical discrimination-aware classification. © 2012 IEEE.

A CONCEPTUAL FRAMEWORK EXAMINING THE ANTECEDENTS OF CAREER DECISIVENESS USING MOTIVATION SYSTEMS THEORY

Directory of Open Access Journals (Sweden)

Srabasti CHATTERJEE

2013-10-01

Full Text Available An extensive body of vocational research has been dedicated to the topic of career-decision making behavior. Work is integral to human functioning, and all psychologists need to understand the role of work in people’s lives. Understanding factors influencing work choices and helping individuals effectively make career decisions is the focus of vocational psychologists. The external changes, such as shifts in the economy and labour force, as well as initiatives within the field are challenging the assumptions within vocational psychology. Under such circumstances, it becomes more important to study career decisiveness and more importantly examine the process of career planning which eventually leads to career decisiveness. So there is a need to assess attitudes, expectations, and emotions about one’s career in the form of Career Future Inventory to measure career choice or career decisiveness. Career decisiveness (CD has been an instrumental tool for vocational psychologists and a phenomenon of interest to parents, faculty, school counsellors, and others who advise young adults on their career choices. The current study shall investigate the antecedents and consequences of career decisiveness using the Motivational Systems Theory (MST. The major rational of applying MST is to understand career choice has its impetus both on the individual and contextual factors.

Modeling OPEC behavior: theories of risk aversion for oil producer decisions

International Nuclear Information System (INIS)

Reynolds, D.B.

1999-01-01

Theories of OPEC such as price leadership, cartel, or game theoretic models suggest an incentive for OPEC members to expand their production capacity well above current levels in order to maximize revenues. Yet individual OPEC members consistently explore for and develop oil fields at a level well below their potential. The cause of low oil exploration and development efforts among OPEC members, and even some non-OPEC members, may have to do with risk aversion. This paper describes an alternative theory for OPEC behavior based on risk aversion using a two piece non-Neumann-Morgenstern utility function similar to Fishburn and Koehenberger (1979, Decision Science 10, 503-518), and Friedman and Savage (1948, Journal of political Economy 56). The model shows possible low oil production behavior. (author)

Including Indigenous Minorities in Decision-Making

DEFF Research Database (Denmark)

Pristed Nielsen, Helene

Based on theories of public sphere participation and deliberative democracy, this book presents empirical results from a study of experiences with including Aboriginal and Maori groups in political decision-making in respectively Western Australia and New Zealand......Based on theories of public sphere participation and deliberative democracy, this book presents empirical results from a study of experiences with including Aboriginal and Maori groups in political decision-making in respectively Western Australia and New Zealand...

Drivers’ decision-making when attempting to cross an intersection results from choice between affordances

Directory of Open Access Journals (Sweden)

Geoffrey eMARTI

2015-01-01

Full Text Available In theory, a safe approach to an intersection implies that the driver can simultaneously manage two scenarios: they either cross or they must give way to an oncoming vehicle. In this article we formalize the critical time for safe crossing (CTcross and the critical time for safe stopping (CTstop to represent crossing and stopping possibilities, respectively. We describe these critical times in terms of affordances and empirically test their respective contribution to the driver’s decision-making process. Using a driving simulator, three groups of participants drove cars with identical acceleration capabilities and different braking capabilities. They were asked to try to cross an intersection where there was an oncoming vehicle, if they deemed the maneuver to be safe. If not, they could decide to stop or, as a last resort, make an emergency exit. The intersections were identical among groups.Results showed that although the crossing possibilities (CTcross were the same for all groups, there were between-group differences in crossing frequency. This suggests that stopping possibilities (CTstop play a role in the driver’s decision-making process, in addition to the crossing possibilities. These results can be accounted for by a behavioral model of decision making, and provide support for the hypothesis of choice between affordances.

Reasoning in explanation-based decision making.

Science.gov (United States)

Pennington, N; Hastie, R

1993-01-01

A general theory of explanation-based decision making is outlined and the multiple roles of inference processes in the theory are indicated. A typology of formal and informal inference forms, originally proposed by Collins (1978a, 1978b), is introduced as an appropriate framework to represent inferences that occur in the overarching explanation-based process. Results from the analysis of verbal reports of decision processes are presented to demonstrate the centrality and systematic character of reasoning in a representative legal decision-making task.

An Integrated Decision-Making Model for Transformer Condition Assessment Using Game Theory and Modified Evidence Combination Extended by D Numbers

Directory of Open Access Journals (Sweden)

Lingjie Sun

2016-08-01

Full Text Available The power transformer is one of the most critical and expensive components for the stable operation of the power system. Hence, how to obtain the health condition of transformer is of great importance for power utilities. Multi-attribute decision-making (MADM, due to its ability of solving multi-source information problems, has become a quite effective tool to evaluate the health condition of transformers. Currently, the analytic hierarchy process (AHP and Dempster–Shafer theory are two popular methods to solve MADM problems; however, these techniques rarely consider one-sidedness of the single weighting method and the exclusiveness hypothesis of the Dempster–Shafer theory. To overcome these limitations, this paper introduces a novel decision-making model, which integrates the merits of fuzzy set theory, game theory and modified evidence combination extended by D numbers, to evaluate the health condition of transformers. A four-level framework, which includes three factors and seventeen sub-factors, is put forward to facilitate the evaluation model. The model points out the following: First, the fuzzy set theory is employed to obtain the original basic probability assignments for all indices. Second, the subjective and objective weights of indices, which are calculated by fuzzy AHP and entropy weight, respectively, are integrated to generate the comprehensive weights based on game theory. Finally, based on the above two steps, the modified evidence combination extended by D numbers, which avoids the limitation of the exclusiveness hypothesis in the application of Dempster–Shafer theory, is proposed to obtain the final assessment results of transformers. Case studies are given to demonstrate the proposed modeling process. The results show the effectiveness and engineering practicability of the model in transformer condition assessment.

The neural substrate and functional integration of uncertainty in decision making: an information theory approach.

Science.gov (United States)

Goñi, Joaquín; Aznárez-Sanado, Maite; Arrondo, Gonzalo; Fernández-Seara, María; Loayza, Francis R; Heukamp, Franz H; Pastor, María A

2011-03-09

Decision making can be regarded as the outcome of cognitive processes leading to the selection of a course of action among several alternatives. Borrowing a central measurement from information theory, Shannon entropy, we quantified the uncertainties produced by decisions of participants within an economic decision task under different configurations of reward probability and time. These descriptors were used to obtain blood oxygen level-dependent (BOLD) signal correlates of uncertainty and two clusters codifying the Shannon entropy of task configurations were identified: a large cluster including parts of the right middle cingulate cortex (MCC) and left and right pre-supplementary motor areas (pre-SMA) and a small cluster at the left anterior thalamus. Subsequent functional connectivity analyses using the psycho-physiological interactions model identified areas involved in the functional integration of uncertainty. Results indicate that clusters mostly located at frontal and temporal cortices experienced an increased connectivity with the right MCC and left and right pre-SMA as the uncertainty was higher. Furthermore, pre-SMA was also functionally connected to a rich set of areas, most of them associative areas located at occipital and parietal lobes. This study provides a map of the human brain segregation and integration (i.e., neural substrate and functional connectivity respectively) of the uncertainty associated to an economic decision making paradigm.

The Empirical content of theories in judgment and decision making: Shortcomings and remedies

Directory of Open Access Journals (Sweden)

Andreas Glockner

2011-12-01

Full Text Available According to Karl Popper, we can tell good theories from poor ones by assessing their empirical content (empirischer Gehalt, which basically reflects how much information they convey concerning the world. ``The empirical content of a statement increases with its degree of falsifiability: the more a statement forbids, the more it says about the world of experience.'' Two criteria to evaluate the empirical content of a theory are their level of universality (Allgemeinheit and their degree of precision (Bestimmtheit. The former specifies how many situations it can be applied to. The latter refers to the specificity in prediction, that is, how many subclasses of realizations it allows. We conduct an analysis of the empirical content of theories in Judgment and Decision Making (JDM and identify the challenges in theory formulation for different classes of models. Elaborating on classic Popperian ideas, we suggest some guidelines for publication of theoretical work.

An unprecedented multi attribute decision making using graph theory matrix approach

Directory of Open Access Journals (Sweden)

N.K. Geetha

2018-02-01

Full Text Available A frame work for investigating the best combination of functioning parameters on a variable compression ratio diesel engine is proposed in the present study using a multi attribute optimization methodology, Graph Theory Matrix Approach. The functioning parameters, attributes, sub attributes and functioning variables of sub attributes are chosen based on expert’s opinion and literature review. The directed graphs are developed for attributes and sub attributes. The ‘Parameter Index’ was calculated for all trials to choose the best trial. The experimental results are verified with the theoretical data. Functioning parameters with combination of compression ratio of 17, fuel injection pressure of 20 N/mm2 and fuel injection pressure of 21°bTDC was found to be best. The proposed method allows the decision maker to systematically and logically find the best combination of functioning parameters.

Analysing and exemplifying forensic conclusion criteria in terms of Bayesian decision theory.

Science.gov (United States)

Biedermann, A; Bozza, S; Taroni, F

2018-03-01

There is ongoing discussion in forensic science and the law about the nature of the conclusions reached based on scientific evidence, and on how such conclusions - and conclusion criteria - may be justified by rational argument. Examples, among others, are encountered in fields such as fingermarks (e.g., 'this fingermark comes from Mr. A's left thumb'), handwriting examinations (e.g., 'the questioned signature is that of Mr. A'), kinship analyses (e.g., 'Mr. A is the father of child C') or anthropology (e.g., 'these are human remains'). Considerable developments using formal methods of reasoning based on, for example (Bayesian) decision theory, are available in literature, but currently such reference principles are not explicitly used in operational forensic reporting and ensuing decision-making. Moreover, applied examples, illustrating the principles, are scarce. A potential consequence of this in practical proceedings, and hence a cause of concern, is that underlying ingredients of decision criteria (such as losses quantifying the undesirability of adverse decision consequences), are not properly dealt with. There is merit, thus, in pursuing the study and discussion of practical examples, demonstrating that formal decision-theoretic principles are not merely conceptual considerations. Actually, these principles can be shown to underpin practical decision-making procedures and existing legal decision criteria, though often not explicitly apparent as such. In this paper, we will present such examples and discuss their properties from a Bayesian decision-theoretic perspective. We will argue that these are essential concepts for an informed discourse on decision-making across forensic disciplines and the development of a coherent view on this topic. We will also emphasize that these principles are of normative nature in the sense that they provide standards against which actual judgment and decision-making may be compared. Most importantly, these standards are

Theories of truth as assessment criteria in judgment and decision making

Directory of Open Access Journals (Sweden)

Philip T. Dunwoody

2009-03-01

Full Text Available Hammond (1996 argued that much of the research in the field of judgment and decision making (JDM can be categorized as focused on either coherence or correspondence (CandC and that, in order to understand the findings of the field, one needs to understand the differences between these two criteria. extit{Hammond's claim} is that conclusions about the competence of judgments and decisions will depend upon the selection of coherence or correspondence as the criterion (Hammond, 2008. First, I provide an overview of the terms coherence and correspondence (CandC as philosophical theories of truth and relate them to the field of JDM. Second, I provide an example of Hammond's claim by examining literature on base rate neglect. Third, I examine Hammond's claim as it applies to the broader field of JDM. Fourth, I critique Hammond's claim and suggest that refinements to the CandC distinction are needed. Specifically, the CandC distinction 1 is more accurately applied to criteria than to researchers, 2 should be refined to include two important types of coherence (inter and intrapersonal coherence and 3 neglects the third philosophical theory of truth, pragmatism. Pragmatism, as a class of criteria in JDM, is defined as goal attainment. In order to provide the most complete assessment of human judgment possible, and understand different findings in the field of JDM, all three criteria should be considered.

Social contract theory and just decision making: lessons from genetic testing for the BRCA mutations.

Science.gov (United States)

Williams-Jones, Bryn; Burgess, Michael M

2004-06-01

Decisions about funding health services are crucial to controlling costs in health care insurance plans, yet they encounter serious challenges from intellectual property protection--e.g., patents--of health care services. Using Myriad Genetics' commercial genetic susceptibility test for hereditary breast cancer (BRCA testing) in the context of the Canadian health insurance system as a case study, this paper applies concepts from social contract theory to help develop more just and rational approaches to health care decision making. Specifically, Daniel's and Sabin's "accountability for reasonableness" is compared to broader notions of public consultation, demonstrating that expert assessments in specific decisions must be transparent and accountable and supplemented by public consultation.

Complex decision-making: initial results of an empirical study

OpenAIRE

Pier Luigi Baldi

2011-01-01

A brief survey of key literature on emotions and decision-making introduces an empirical study of a group of university students exploring the effects of decision-making complexity on error risk. The results clearly show that decision-making under stress in the experimental group produces significantly more errors than in the stress-free control group.

Role of affect in decision making.

Science.gov (United States)

Bandyopadhyay, Debarati; Pammi, V S Chandrasekhar; Srinivasan, Narayanan

2013-01-01

Emotion plays a major role in influencing our everyday cognitive and behavioral functions, including decision making. We introduce different ways in which emotions are characterized in terms of the way they influence or elicited by decision making. This chapter discusses different theories that have been proposed to explain the role of emotions in judgment and decision making. We also discuss incidental emotional influences, both long-duration influences like mood and short-duration influences by emotional context present prior to or during decision making. We present and discuss results from a study with emotional pictures presented prior to decision making and how that influences both decision processes and postdecision experience as a function of uncertainty. We conclude with a summary of the work on emotions and decision making in the context of decision-making theories and our work on incidental emotions. Copyright © 2013 Elsevier B.V. All rights reserved.

Complex decision-making: initial results of an empirical study

Directory of Open Access Journals (Sweden)

Pier Luigi Baldi

2011-09-01

Full Text Available A brief survey of key literature on emotions and decision-making introduces an empirical study of a group of university students exploring the effects of decision-making complexity on error risk. The results clearly show that decision-making under stress in the experimental group produces significantly more errors than in the stress-free control group.

Management of redundancy in flight control systems using optimal decision theory

Science.gov (United States)

1981-01-01

The problem of using redundancy that exists between dissimilar systems in aircraft flight control is addressed. That is, using the redundancy that exists between a rate gyro and an accelerometer--devices that have dissimilar outputs which are related only through the dynamics of the aircraft motion. Management of this type of redundancy requires advanced logic so that the system can monitor failure status and can reconfigure itself in the event of one or more failures. An optimal decision theory was tutorially developed for the management of sensor redundancy and the theory is applied to two aircraft examples. The first example is the space shuttle and the second is a highly maneuvering high performance aircraft--the F8-C. The examples illustrate the redundancy management design process and the performance of the algorithms presented in failure detection and control law reconfiguration.

Combining statistical inference and decisions in ecology

Science.gov (United States)

Williams, Perry J.; Hooten, Mevin B.

2016-01-01

Statistical decision theory (SDT) is a sub-field of decision theory that formally incorporates statistical investigation into a decision-theoretic framework to account for uncertainties in a decision problem. SDT provides a unifying analysis of three types of information: statistical results from a data set, knowledge of the consequences of potential choices (i.e., loss), and prior beliefs about a system. SDT links the theoretical development of a large body of statistical methods including point estimation, hypothesis testing, and confidence interval estimation. The theory and application of SDT have mainly been developed and published in the fields of mathematics, statistics, operations research, and other decision sciences, but have had limited exposure in ecology. Thus, we provide an introduction to SDT for ecologists and describe its utility for linking the conventionally separate tasks of statistical investigation and decision making in a single framework. We describe the basic framework of both Bayesian and frequentist SDT, its traditional use in statistics, and discuss its application to decision problems that occur in ecology. We demonstrate SDT with two types of decisions: Bayesian point estimation, and an applied management problem of selecting a prescribed fire rotation for managing a grassland bird species. Central to SDT, and decision theory in general, are loss functions. Thus, we also provide basic guidance and references for constructing loss functions for an SDT problem.

The neural substrate and functional integration of uncertainty in decision making: an information theory approach.

Directory of Open Access Journals (Sweden)

Joaquín Goñi

Full Text Available Decision making can be regarded as the outcome of cognitive processes leading to the selection of a course of action among several alternatives. Borrowing a central measurement from information theory, Shannon entropy, we quantified the uncertainties produced by decisions of participants within an economic decision task under different configurations of reward probability and time. These descriptors were used to obtain blood oxygen level-dependent (BOLD signal correlates of uncertainty and two clusters codifying the Shannon entropy of task configurations were identified: a large cluster including parts of the right middle cingulate cortex (MCC and left and right pre-supplementary motor areas (pre-SMA and a small cluster at the left anterior thalamus. Subsequent functional connectivity analyses using the psycho-physiological interactions model identified areas involved in the functional integration of uncertainty. Results indicate that clusters mostly located at frontal and temporal cortices experienced an increased connectivity with the right MCC and left and right pre-SMA as the uncertainty was higher. Furthermore, pre-SMA was also functionally connected to a rich set of areas, most of them associative areas located at occipital and parietal lobes. This study provides a map of the human brain segregation and integration (i.e., neural substrate and functional connectivity respectively of the uncertainty associated to an economic decision making paradigm.

Elementary decision theory

CERN Document Server

Chernoff, Herman

1988-01-01

This well-respected introduction to statistics and statistical theory covers data processing, probability and random variables, utility and descriptive statistics, computation of Bayes strategies, models, testing hypotheses, and much more. 1959 edition.

Application of Game Theory in Describing Efficacy of Decision Making in Sportsman’s Tactical Performance in Team Sports

Directory of Open Access Journals (Sweden)

Joško Sindik

2008-06-01

Full Text Available A mathematical method of decision-making in which a competitive or cooperative situation is analyzed to determine the optimal course of action for an interested “player” is often called game theory. Game theory has very broad application in different sciences. Team sports tactical performance is considered from the aspects of data processing theory and the phenomenon of selective attention, as well as from the game theory. Team sports tactical performance is an asymmetric, sequential (of imperfect information, non-zero-sum game. In decision making, predictability in team sports is in fact bargaining, and the player has to use a mixed strategy for choosing option with highest expected utility. Player could choose a trembling hand equilibrium, to eliminate imperfect equilibrium. Strategic dominance conceipt can explain that a player could choose strategy which dominates between other possible strategies, and/or could be led by “team reasoning”, too. In this article, the level of predictability of the most frequent tactical performance of one player in a team sport game is considered, reflecting outcomes both for the same team’s tactical performance (co-players in one player’s team, as well as for the opponent team’s tactical performance. Four different possible situations during team sport competition could lead to considering utilities of one player’s specific decisions.

Bureaucrats Versus the Ballot Box in Foreign Policy Decision Making: An Experimental Analysis of the Bureaucratic Politics Model and the Poliheuristic Theory

Science.gov (United States)

Christensen, Eben J.; Redd, Steven B.

2004-01-01

The bureaucratic politics model and the poliheuristic theory are used to examine how political advice presented in various contexts influences choice. Organizational advisers who offer endogenous political advice are compared with situations in which the decision maker is offered advice by a separate, or exogenous, political adviser. Results show…

Decision making and imperfection

CERN Document Server

Karny, Miroslav; Wolpert, David

2013-01-01

Decision making (DM) is ubiquitous in both natural and artificial systems. The decisions made often differ from those recommended by the axiomatically well-grounded normative Bayesian decision theory, in a large part due to limited cognitive and computational resources of decision makers (either artificial units or humans). This state of a airs is often described by saying that decision makers are imperfect and exhibit bounded rationality. The neglected influence of emotional state and personality traits is an additional reason why normative theory fails to model human DM process.   The book is a joint effort of the top researchers from different disciplines to identify sources of imperfection and ways how to decrease discrepancies between the prescriptive theory and real-life DM. The contributions consider:   ·          how a crowd of imperfect decision makers outperforms experts' decisions;   ·          how to decrease decision makers' imperfection by reducing knowledge available;   ...

Decision making process and factors contributing to research participation among general practitioners: A grounded theory study.

Science.gov (United States)

Tong, Seng Fah; Ng, Chirk Jenn; Lee, Verna Kar Mun; Lee, Ping Yein; Ismail, Irmi Zarina; Khoo, Ee Ming; Tahir, Noor Azizah; Idris, Iliza; Ismail, Mastura; Abdullah, Adina

2018-01-01

The participation of general practitioners (GPs) in primary care research is variable and often poor. We aimed to develop a substantive and empirical theoretical framework to explain GPs' decision-making process to participate in research. We used the grounded theory approach to construct a substantive theory to explain the decision-making process of GPs to participate in research activities. Five in-depth interviews and four focus group discussions were conducted among 21 GPs. Purposeful sampling followed by theoretical sampling were used to attempt saturation of the core category. Data were collected using semi-structured open-ended questions. Interviews were recorded, transcribed verbatim and checked prior to analysis. Open line-by-line coding followed by focus coding were used to arrive at a substantive theory. Memoing was used to help bring concepts to higher abstract levels. The GPs' decision to participate in research was attributed to their inner drive and appreciation for primary care research and their confidence in managing their social and research environments. The drive and appreciation for research motivated the GPs to undergo research training to enhance their research knowledge, skills and confidence. However, the critical step in the GPs' decision to participate in research was their ability to align their research agenda with priorities in their social environment, which included personal life goals, clinical practice and organisational culture. Perceived support for research, such as funding and technical expertise, facilitated the GPs' participation in research. In addition, prior experiences participating in research also influenced the GPs' confidence in taking part in future research. The key to GPs deciding to participate in research is whether the research agenda aligns with the priorities in their social environment. Therefore, research training is important, but should be included in further measures and should comply with GPs' social

An entropic barriers diffusion theory of decision-making in multiple alternative tasks.

Directory of Open Access Journals (Sweden)

Diego Fernandez Slezak

2018-03-01

Full Text Available We present a theory of decision-making in the presence of multiple choices that departs from traditional approaches by explicitly incorporating entropic barriers in a stochastic search process. We analyze response time data from an on-line repository of 15 million blitz chess games, and show that our model fits not just the mean and variance, but the entire response time distribution (over several response-time orders of magnitude at every stage of the game. We apply the model to show that (a higher cognitive expertise corresponds to the exploration of more complex solution spaces, and (b reaction times of users at an on-line buying website can be similarly explained. Our model can be seen as a synergy between diffusion models used to model simple two-choice decision-making and planning agents in complex problem solving.

Applying Bayesian decision theory to assess reprocessing economic and social cost-benefits

International Nuclear Information System (INIS)

Heising, C.D.

1978-01-01

Bayesian decision theory, combined with conventional systems analysis techniques into the discipline called decision analysis, has been applied in this work to assess economic and social cost-benefits associated with reprocessing nuclear fuel. Particular attention in this paper is given to the models which have been developed to place numerical estimates in dollar terms on the three categories of social risks that have been identified with reprocessing. These categories include: (1) health, environment, and safety, (2) diversion of fissile material, including sabotage, terrorist acts, and subnational diversion, and (3) nuclear proliferation, defined to be a diversion at the national level to obtain weapons capability. The emphasis is placed on the third category, as proliferation risk has not been treated elsewhere in a quantitative fashion; most arguments have in the main been qualitative conjectures put forth by political scientists

LOGICAL-MATHEMATICAL ANALYTICS THE EXISTENTIAL NATURE OF DECISION-MAKING

Directory of Open Access Journals (Sweden)

Andrei Sergeevich Emelyanov

2015-12-01

Full Text Available This article is devoted to an extensive and rather modern scientific area – Decision-making theory. The author uses logical-mathematical bases of Decision-making theory to make an explication of the existential features of the choice, which is based on four main martingales: trend, time, men and phobia. The last four constituents “have power” above human-being and impress the situation of decision-making. The impression on such situation allow to minimize a risk, to predict results and to create a strategy with positive result.

Human-centric decision-making models for social sciences

CERN Document Server

Pedrycz, Witold

2014-01-01

The volume delivers a wealth of effective methods to deal with various types of uncertainty inherently existing in human-centric decision problems. It elaborates on  comprehensive decision frameworks to handle different decision scenarios, which help use effectively the explicit and tacit knowledge and intuition, model perceptions and preferences in a more human-oriented style. The book presents original approaches and delivers new results on fundamentals and applications related to human-centered decision making approaches to business, economics and social systems. Individual chapters cover multi-criteria (multiattribute) decision making, decision making with prospect theory, decision making with incomplete probabilistic information, granular models of decision making and decision making realized with the use of non-additive measures. New emerging decision theories being presented as along with a wide spectrum of ongoing research make the book valuable to all interested in the field of advanced decision-mak...

Spiking Phineas Gage: a neurocomputational theory of cognitive-affective integration in decision making.

Science.gov (United States)

Wagar, Brandon M; Thagard, Paul

2004-01-01

The authors present a neurological theory of how cognitive information and emotional information are integrated in the nucleus accumbens during effective decision making. They describe how the nucleus accumbens acts as a gateway to integrate cognitive information from the ventromedial prefrontal cortex and the hippocampus with emotional information from the amygdala. The authors have modeled this integration by a network of spiking artificial neurons organized into separate areas and used this computational model to simulate 2 kinds of cognitive-affective integration. The model simulates successful performance by people with normal cognitive-affective integration. The model also simulates the historical case of Phineas Gage as well as subsequent patients whose ability to make decisions became impeded by damage to the ventromedial prefrontal cortex.

Gauge theories as string theories: the first results

International Nuclear Information System (INIS)

Gorsky, Aleksandr S

2005-01-01

The gauge/string theory duality in curved space is discussed mainly using a non-Abelian conformal N = 4 supersymmetric gauge theory and the theory of a closed superstring in the AdS 5 x S 5 metric as an example. It is shown that in the supergravity approximation, string duality yields the characteristics of a strong-coupling gauge theory. For a special shape of the contour, a Wilson loop expression is derived in the classical superstring approximation. The role of the hidden integrability in lower-loop calculations in gauge theory and in different approximations of string theory is discussed. It is demonstrated that in the large quantum-number limit, gauge theory operators can be described in terms of the dual string picture. Examples of metrics providing the dual description of gauge theories with broken conformal symmetry are presented, and formulations of the vacuum structure of such theories in terms of gravity are discussed. (reviews of topical problems)

Modern Portfolio Theory: Some Main Results

OpenAIRE

Müller, Heinz H.

2017-01-01

This article summarizes some main results in modern portfolio theory. First, the Markowitz approach is presented. Then the capital asset pricing model is derived and its empirical testability is discussed. Afterwards Neumann-Morgenstern utility theory is applied to the portfolio problem. Finally, it is shown how optimal risk allocation in an economy may lead to portfolio insurance

Computational Complexity and Human Decision-Making.

Science.gov (United States)

Bossaerts, Peter; Murawski, Carsten

2017-12-01

The rationality principle postulates that decision-makers always choose the best action available to them. It underlies most modern theories of decision-making. The principle does not take into account the difficulty of finding the best option. Here, we propose that computational complexity theory (CCT) provides a framework for defining and quantifying the difficulty of decisions. We review evidence showing that human decision-making is affected by computational complexity. Building on this evidence, we argue that most models of decision-making, and metacognition, are intractable from a computational perspective. To be plausible, future theories of decision-making will need to take into account both the resources required for implementing the computations implied by the theory, and the resource constraints imposed on the decision-maker by biology. Copyright © 2017 Elsevier Ltd. All rights reserved.

Decision making and coping in healthcare: the Coping in Deliberation (CODE) framework.

Science.gov (United States)

Witt, Jana; Elwyn, Glyn; Wood, Fiona; Brain, Kate

2012-08-01

To develop a framework of decision making and coping in healthcare that describes the twin processes of appraisal and coping faced by patients making preference-sensitive healthcare decisions. We briefly review the literature for decision making theories and coping theories applicable to preference-sensitive decisions in healthcare settings. We describe first decision making, then coping and finally attempt to integrate these processes by building on current theory. Deliberation in healthcare may be described as a six step process, comprised of the presentation of a health threat, choice, options, preference construction, the decision itself and consolidation post-decision. Coping can be depicted in three stages, beginning with a threat, followed by primary and secondary appraisal and ultimately resulting in a coping effort. Drawing together concepts from prominent decision making theories and coping theories, we propose a multidimensional, interactive framework which integrates both processes and describes coping in deliberation. The proposed framework offers an insight into the complexity of decision making in preference-sensitive healthcare contexts from a patient perspective and may act as theoretical basis for decision support. Copyright © 2012 Elsevier Ireland Ltd. All rights reserved.

Dynamic decision making without expected utility

DEFF Research Database (Denmark)

Nielsen, Thomas Dyhre; Jaffray, Jean-Yves

2006-01-01

Non-expected utility theories, such as rank dependent utility (RDU) theory, have been proposed as alternative models to EU theory in decision making under risk. These models do not share the separability property of expected utility theory. This implies that, in a decision tree, if the reduction...... maker’s discordant goals at the different decision nodes. Relative to the computations involved in the standard expected utility evaluation of a decision problem, the main computational increase is due to the identification of non-dominated strategies by linear programming. A simulation, using the rank...

Chaotic Feedback Loops within Decision Making Groups: Towards an Integration of Chaos Theory and Cybernetics.

Science.gov (United States)

Keaten, James A.

This paper offers a model that integrates chaos theory and cybernetics, which can be used to describe the structure of decision making within small groups. The paper begins with an overview of cybernetics and chaos. Definitional characteristics of cybernetics are reviewed along with salient constructs, such as goal-seeking, feedback, feedback…

Rule-based decision making model

International Nuclear Information System (INIS)

Sirola, Miki

1998-01-01

A rule-based decision making model is designed in G2 environment. A theoretical and methodological frame for the model is composed and motivated. The rule-based decision making model is based on object-oriented modelling, knowledge engineering and decision theory. The idea of safety objective tree is utilized. Advanced rule-based methodologies are applied. A general decision making model 'decision element' is constructed. The strategy planning of the decision element is based on e.g. value theory and utility theory. A hypothetical process model is built to give input data for the decision element. The basic principle of the object model in decision making is division in tasks. Probability models are used in characterizing component availabilities. Bayes' theorem is used to recalculate the probability figures when new information is got. The model includes simple learning features to save the solution path. A decision analytic interpretation is given to the decision making process. (author)

Probabilistic Analysis in Management Decision Making

DEFF Research Database (Denmark)

Delmar, M. V.; Sørensen, John Dalsgaard

1992-01-01

The target group in this paper is people concerned with mathematical economic decision theory. It is shown how the numerically effective First Order Reliability Methods (FORM) can be used in rational management decision making, where some parameters in the applied decision basis are uncertainty...... quantities. The uncertainties are taken into account consistently and the decision analysis is based on the general decision theory in combination with reliability and optimization theory. Examples are shown where the described technique is used and some general conclusion are stated....

Testing Ecological Theories of Offender Spatial Decision Making Using a Discrete Choice Model

Science.gov (United States)

Summers, Lucia

2015-01-01

Research demonstrates that crime is spatially concentrated. However, most research relies on information about where crimes occur, without reference to where offenders reside. This study examines how the characteristics of neighborhoods and their proximity to offender home locations affect offender spatial decision making. Using a discrete choice model and data for detected incidents of theft from vehicles (TFV), we test predictions from two theoretical perspectives—crime pattern and social disorganization theories. We demonstrate that offenders favor areas that are low in social cohesion and closer to their home, or other age-related activity nodes. For adult offenders, choices also appear to be influenced by how accessible a neighborhood is via the street network. The implications for criminological theory and crime prevention are discussed. PMID:25866412

Testing Ecological Theories of Offender Spatial Decision Making Using a Discrete Choice Model.

Science.gov (United States)

Johnson, Shane D; Summers, Lucia

2015-04-01

Research demonstrates that crime is spatially concentrated. However, most research relies on information about where crimes occur, without reference to where offenders reside. This study examines how the characteristics of neighborhoods and their proximity to offender home locations affect offender spatial decision making. Using a discrete choice model and data for detected incidents of theft from vehicles (TFV) , we test predictions from two theoretical perspectives-crime pattern and social disorganization theories. We demonstrate that offenders favor areas that are low in social cohesion and closer to their home, or other age-related activity nodes. For adult offenders, choices also appear to be influenced by how accessible a neighborhood is via the street network. The implications for criminological theory and crime prevention are discussed.

Liminality and decision making for upper limb surgery in tetraplegia: a grounded theory.

Science.gov (United States)

Dunn, Jennifer A; Hay-Smith, E Jean C; Whitehead, Lisa C; Keeling, Sally

2013-07-01

To explore, from the perspective of the person with tetraplegia, the issues that influenced decision making about upper limb surgery and develop a conceptual framework describing the decision making process. Purposive and theoretical sampling of 22 people with tetraplegia, followed by interviews. Ten people had upper limb surgery and 12 had not. Verbatim transcripts were analyzed with constructivist grounded theory. Participants responded to the offer of surgery in one of three ways: yes, let me have it; no thanks; or possibly. Many influences on the decision about surgery had a temporal element, such as hope for the cure or recovery from SCI, inadequate physical or social supports while rehabilitating, life roles and goals, and the avoidance of re-hospitalization. The conceptual framework illustrated that many participants entered a liminal state within which they required a stimulus to review their decision about upper limb surgery. Decision making is a temporal process, and for some the process was a prolonged and liminal one. Therefore, multiple offers for surgery are required to allow for changing thoughts and circumstances throughout an individual's lifetime. Flexibility with regard to timing for surgery and type of rehabilitation may increase the uptake, especially for women. • Multiple offers for upper limb surgery are required throughout an individual's lifetime to account for changing thoughts and priorities. • Identification of the type of support required (informational, emotional) may assist in decreasing the time taken to make the decision about surgery. • Flexibility in surgical and rehabilitation options, especially for women, may increase the uptake of surgery.

Argumentation and Multi-Agent Decision Making

OpenAIRE

Parsons, S.; Jennings, N. R.

1998-01-01

This paper summarises our on-going work on mixed- initiative decision making which extends both classical decision theory and a symbolic theory of decision making based on argumentation to a multi-agent domain.

A meta-ethnography and theory of parental ethical decision making in the neonatal intensive care unit.

Science.gov (United States)

Rosenthal, Sara A; Nolan, Marie T

2013-07-01

To synthesize the existing qualitative literature about parent ethical decision making in the neonatal intensive care unit (NICU) and to investigate the potential impact of culture on parents' decision making experiences. PubMed, CINAHL plus, and PsychInfo using the search terms parental decision making, culture, race, decision making, and parental decisions. Qualitative research studies investigating decision making for infants in the NICU from the parents' perspective were included. Studies involving older pediatric populations were excluded. Ten primary qualitative research articles were included. The primary author read all manuscripts and tabulated themes related to parents' ethical decision making. Study findings were synthesized using meta-ethnography involving translating concepts of separate studies into one another, exploring contradictions, and organizing these concepts into new theories. Key themes included parent involvement in decision making, parental role, necessity of good information, need for communication, desire for hope and compassion conveyed by providers, decision making satisfaction, and trust in caregiving team. A preliminary theoretical framework of ethical parent decision making was modeled based on the proposed relationships between the themes. Parent preferences for their involvement in decision making, their perceptions of communication with providers, and their relationships with providers are all important factors in the experience of making decisions for their infants. Needs of parents were the same regardless the ethnic or racial diversity of study participants. © 2013 AWHONN, the Association of Women's Health, Obstetric and Neonatal Nurses.

Decision and intuition during organizational change : an evolutionary critique of dual process theory

OpenAIRE

Talat, U; Chang, K; Nguyen, B

2017-01-01

Purpose: The purpose of this paper is to review intuition in the context of organizational change. We argue that intuition as a concept requires attention and its formulation is necessary prior to its application in organizations. The paper provides a critique of Dual Process Theory and highlights shortcomings in organization theorizing of intuition.\\ud Design/methodology/approach: The paper is conceptual and provides in-depth theoretical discussions by drawing from the literature on decision...

Risky Business: An Integrated Institutional Theory for Understanding High-Risk Decision Making in Higher Education

Science.gov (United States)

Turner, Lauren A.; Angulo, A. J.

2018-01-01

Lauren A. Turner and A. J. Angulo explore how institutional theory can be applied to explain variance in higher education organizational strategies. Given strong regulatory, normative, and cultural-cognitive pressures to conform, they ask, why do some colleges engage in high-risk decision making? To answer this, they bring together classic and…

An Extension of the Theory of Reasoned Action in Ethical Decision Contexts: The Role of Normative Influence and Ethical Judgment

Science.gov (United States)

Celuch, Kevin; Dill, Andy

2011-01-01

The moral conduct of organizations is ultimately dependent on the discrete actions of individuals. The authors address the scholarly and managerial imperative of how individuals combine various cognitions in their ethical decision making. The study extends the understanding of ethical decision making by exploring relationships among Theory of…

Inconclusive quantum measurements and decisions under uncertainty

Science.gov (United States)

Yukalov, Vyacheslav; Sornette, Didier

2016-04-01

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.

Inconclusive quantum measurements and decisions under uncertainty

Directory of Open Access Journals (Sweden)

Vyacheslav I. Yukalov

2016-04-01

Full Text Available 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 withthe 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 evaluationof 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.

[Shared decision-making and communication theory: grounding the tango].

Science.gov (United States)

Kasper, Jürgen; Légaré, France; Scheibler, Fülöp; Geiger, Friedemann

2010-01-01

Shared decision-making (SDM) has the potential to overcome outdated social role models in the health care system. The concept, however, adheres to archaic epistemological assumptions as can be inferred from the rudimentary stage of the measurement methods used and from the information monopoly that the physician still holds in this concept. Advantages of an up-to-date model of knowledge for understanding and operationalising SDM are outlined. To this purpose, essential definitions of the concept are reflected in terms of epistemology. Accordingly, information emerges through a process of social construction. Likewise, interpersonal relations do not represent a static condition; rather, they develop anew with each interaction. Therefore, constructs suitable to focus on dyadic interaction processes can be used as indicators of sharing in SDM. Theories and methods of the interpersonal paradigm are advocated. Copyright © 2010. Published by Elsevier GmbH.

Knowledge, decision making, and uncertainty

International Nuclear Information System (INIS)

Fox, J.

1986-01-01

Artificial intelligence (AI) systems depend heavily upon the ability to make decisions. Decisions require knowledge, yet there is no knowledge-based theory of decision making. To the extent that AI uses a theory of decision-making it adopts components of the traditional statistical view in which choices are made by maximizing some function of the probabilities of decision options. A knowledge-based scheme for reasoning about uncertainty is proposed, which extends the traditional framework but is compatible with it

Increasing Personal Value Congruence in Computerized Decision Support Using System Feedback

Directory of Open Access Journals (Sweden)

Bryan Hosack

2014-02-01

Full Text Available The Theory of Universals in Values (TUV, a reliable and validated conceptualization of personal values used in psychology, is used to examine the effect of system feedback delivered by a Decision Support System (DSS on personal values. The results indicate that value-based decision-making behavior can be influenced by DSS feedback to address value congruence in decision-making. User behavior was shown to follow the outcomes expected by operant theory when feedback was supportive and to follow the outcomes of reactance theory when feedback was challenging. This result suggests that practitioners and Information System (IS researchers should consider user values when designing computerized decision feedback to adjust a system’s design such that the potential user backlash is avoided or congruence between organizational and personal values is achieved.

Decision theory, reinforcement learning, and the brain.

Science.gov (United States)

Dayan, Peter; Daw, Nathaniel D

2008-12-01

Decision making is a core competence for animals and humans acting and surviving in environments they only partially comprehend, gaining rewards and punishments for their troubles. Decision-theoretic concepts permeate experiments and computational models in ethology, psychology, and neuroscience. Here, we review a well-known, coherent Bayesian approach to decision making, showing how it unifies issues in Markovian decision problems, signal detection psychophysics, sequential sampling, and optimal exploration and discuss paradigmatic psychological and neural examples of each problem. We discuss computational issues concerning what subjects know about their task and how ambitious they are in seeking optimal solutions; we address algorithmic topics concerning model-based and model-free methods for making choices; and we highlight key aspects of the neural implementation of decision making.

Robustness of Multiple Objective Decision Analysis Preference Functions

Science.gov (United States)

2002-06-01

Bayesian Decision Theory and Utilitarian Ethics ,” American Economic Review Papers and Proceedings, 68: 223-228 (May 1978). Hartsough, Bruce R. “A...1983). Morrell, Darryl and Eric Driver. “ Bayesian Network Implementation of Levi’s Epistemic Utility Decision Theory ,” International Journal Of...elicitation efficiency for the decision maker. Subject Terms Decision Analysis, Utility Theory , Elicitation Error, Operations Research, Decision

The Effects Of Decision Framing Influences On Decision Performance

OpenAIRE

David Shelby Harrison; Sanela Porca

2011-01-01

This study investigates the effects of two components of decision framing [commitment and verbalization] in decision optimization, and how information quality impacts framing effects on decision performance. The theory of cognitive dissonance predicts that commitment to a decision will foster insensitivity to alternative choices. We find that such bias can be beneficial in certain decision strategies, and more powerfully influential as information quality worsens. We used an interactive compu...

Robust Bayesian decision theory applied to optimal dosage.

Science.gov (United States)

Abraham, Christophe; Daurès, Jean-Pierre

2004-04-15

We give a model for constructing an utility function u(theta,d) in a dose prescription problem. theta and d denote respectively the patient state of health and the dose. The construction of u is based on the conditional probabilities of several variables. These probabilities are described by logistic models. Obviously, u is only an approximation of the true utility function and that is why we investigate the sensitivity of the final decision with respect to the utility function. We construct a class of utility functions from u and approximate the set of all Bayes actions associated to that class. Then, we measure the sensitivity as the greatest difference between the expected utilities of two Bayes actions. Finally, we apply these results to weighing up a chemotherapy treatment of lung cancer. This application emphasizes the importance of measuring robustness through the utility of decisions rather than the decisions themselves. Copyright 2004 John Wiley & Sons, Ltd.

An Energy-Efficient Game-Theory-Based Spectrum Decision Scheme for Cognitive Radio Sensor Networks.

Science.gov (United States)

Salim, Shelly; Moh, Sangman

2016-06-30

A cognitive radio sensor network (CRSN) is a wireless sensor network in which sensor nodes are equipped with cognitive radio. In this paper, we propose an energy-efficient game-theory-based spectrum decision (EGSD) scheme for CRSNs to prolong the network lifetime. Note that energy efficiency is the most important design consideration in CRSNs because it determines the network lifetime. The central part of the EGSD scheme consists of two spectrum selection algorithms: random selection and game-theory-based selection. The EGSD scheme also includes a clustering algorithm, spectrum characterization with a Markov chain, and cluster member coordination. Our performance study shows that EGSD outperforms the existing popular framework in terms of network lifetime and coordination overhead.

Constructor theory of probability

Science.gov (United States)

2016-01-01

Unitary quantum theory, having no Born Rule, is non-probabilistic. Hence the notorious problem of reconciling it with the unpredictability and appearance of stochasticity in quantum measurements. Generalizing and improving upon the so-called ‘decision-theoretic approach’, I shall recast that problem in the recently proposed constructor theory of information—where quantum theory is represented as one of a class of superinformation theories, which are local, non-probabilistic theories conforming to certain constructor-theoretic conditions. I prove that the unpredictability of measurement outcomes (to which constructor theory gives an exact meaning) necessarily arises in superinformation theories. Then I explain how the appearance of stochasticity in (finitely many) repeated measurements can arise under superinformation theories. And I establish sufficient conditions for a superinformation theory to inform decisions (made under it) as if it were probabilistic, via a Deutsch–Wallace-type argument—thus defining a class of decision-supporting superinformation theories. This broadens the domain of applicability of that argument to cover constructor-theory compliant theories. In addition, in this version some of the argument's assumptions, previously construed as merely decision-theoretic, follow from physical properties expressed by constructor-theoretic principles. PMID:27616914

Personal practical theories, self-identity, and astronomy teachers' interactive decision making

Science.gov (United States)

Richmond, Marvin Elliot

2005-12-01

Research has suggested that beliefs play a major role in selecting and defining teaching tasks and organizing the knowledge needed to perform those tasks. Teachers, consciously or unconsciously, depend on beliefs because they work in ill-structured domains where traditional problem solving techniques and academic knowledge do not work as well. The goal of this project was to establish, if possible, a causal link between teacher beliefs and interactive decision making through empirical, qualitative research. The hypothesis was, that when faced with those sorts of situations, the participants would fall back on belief systems that did not necessarily have a rational basis. The research focused on astronomy teachers in community colleges. Since most science reform efforts are directed toward primary and secondary schools, community college science teaching remains a neglected area of study. Yet community colleges are predicted to play an increasingly important role in higher education in the near future. For many students, community college science classes may represent their last encounter with formal, academic, science programs. The three participants were interviewed and observed in the classroom over an extended period. Initial interviews were conducted with each participant to capture stated beliefs. After the extensive classroom observations, stimulated recall interviews were held with each participant viewing short, edited segments of the classroom videotapes. No direct causal link between beliefs (in the conventional sense of the word) and participant decision making is apparent from this empirical research. However, the construct of personal practical theories, which includes beliefs as one component, shows promise as a significant determining factor in interactive decision making. Themes have been developed that represent each participant's personal practical theories. The strongest theme, applicable to all participants, is based on the notion of

Treatment decision-making and the form of risk communication: results of a factorial survey

Directory of Open Access Journals (Sweden)

Holmes-Rovner Margaret

2004-11-01

Full Text Available Abstract Background Prospective users of preventive therapies often must evaluate complex information about therapeutic risks and benefits. The purpose of this study was to evaluate the effect of relative and absolute risk information on patient decision-making in scenarios typical of health information for patients. Methods Factorial experiments within a telephone survey of the Michigan adult, non-institutionalized, English-speaking population. Average interview lasted 23 minutes. Subjects and sample design: 952 randomly selected adults within a random-digit dial sample of Michigan households. Completion rate was 54.3%. Results When presented hypothetical information regarding additional risks of breast cancer from a medication to prevent a bone disease, respondents reduced their willingness to recommend a female friend take the medication compared to the baseline rate (66.8% = yes. The decrease was significantly greater with relative risk information. Additional benefit information regarding preventing heart disease from the medication increased willingness to recommend the medication to a female friend relative to the baseline scenario, but did not differ between absolute and relative risk formats. When information about both increased risk of breast cancer and reduced risk of heart disease were provided, typical respondents appeared to make rational decisions consistent with Expected Utility Theory, but the information presentation format affected choices. Those 11% – 33% making decisions contrary to the medical indications were more likely to be Hispanic, older, more educated, smokers, and to have children in the home. Conclusions In scenarios typical of health risk information, relative risk information led respondents to make non-normative decisions that were "corrected" when the frame used absolute risk information. This population sample made generally rational decisions when presented with absolute risk information, even in the

Risk Decision Making Based on Decision-theoretic Rough Set: A Three-way View Decision Model

OpenAIRE

Huaxiong Li; Xianzhong Zhou

2011-01-01

Rough set theory has witnessed great success in data mining and knowledge discovery, which provides a good support for decision making on a certain data. However, a practical decision problem always shows diversity under the same circumstance according to different personality of the decision makers. A simplex decision model can not provide a full description on such diverse decisions. In this article, a review of Pawlak rough set models and probabilistic rough set models is presented, and a ...

The neuronal substrate of risky choice: an insight into the contributions of neuroimaging to the understanding of theories on decision making under risk.

Science.gov (United States)

Vorhold, Verena

2008-04-01

This chapter provides an overview of studies in the field of neuroscience that investigate some of the processes and concepts of risk perception, risky choice, and decision making under risk. First, early studies in the field of neuroscience addressing the diminished decision-making abilities in lesion patients are presented. A classical task in this research field is described along with its neural implications. After this, the underlying model, its hypotheses, and neuronal implications are discussed. Different aspects within risky decision making, such as the influence of memory, inhibition, motivation, and personality, on risky choice and the respective underlying neuronal substrate are described. After this, studies of risky decision making in healthy subjects are reviewed. A selection of studies shows that theories focusing on cognitive aspects only have to be enriched in order to allow for additional aspects within risky decision making (e.g., emotion). Next, the classical economic approaches and the development of theories incorporating further aspects within economical decision making and the underlying neuronal substrate will be presented. Finally, research in the field of neuroeconomics, focusing on the role of social decision making and evaluative judgment within risky decision making, is reviewed.

In search of the "lost capital". A theory for valuation, investment decisions, performance measurement

OpenAIRE

Magni, Carlo Alberto

2007-01-01

This paper presents a theoretical framework for valuation, investment decisions, and performance measurement based on a nonstandard theory of residual income. It is derived from the notion of "unrecovered" capital, which is here named "lost" capital because it represents the capital foregone by the investors. Its theoretical strength and meaningfulness is shown by deriving it from four main perspectives: financial, microeconomic, axiomatic, accounting. Implications for asset valuation, cap...

Prospect Theory and Interval-Valued Hesitant Set for Safety Evacuation Model

Science.gov (United States)

Kou, Meng; Lu, Na

2018-01-01

The study applies the research results of prospect theory and multi attribute decision making theory, combined with the complexity, uncertainty and multifactor influence of the underground mine fire system and takes the decision makers’ psychological behavior of emotion and intuition into full account to establish the intuitionistic fuzzy multiple attribute decision making method that is based on the prospect theory. The model established by this method can explain the decision maker’s safety evacuation decision behavior in the complex system of underground mine fire due to the uncertainty of the environment, imperfection of the information and human psychological behavior and other factors.

Simulation Models of Human Decision-Making Processes

Directory of Open Access Journals (Sweden)

Nina RIZUN

2014-10-01

Full Text Available The main purpose of the paper is presentation of the new concept of human decision-making process modeling via using the analogy with Automatic Control Theory. From the author's point of view this concept allows to develop and improve the theory of decision-making in terms of the study and classification of specificity of the human intellectual processes in different conditions. It was proved that the main distinguishing feature between the Heuristic / Intuitive and Rational Decision-Making Models is the presence of so-called phenomenon of "enrichment" of the input information with human propensity, hobbies, tendencies, expectations, axioms and judgments, presumptions or bias and their justification. In order to obtain additional knowledge about the basic intellectual processes as well as the possibility of modeling the decision results in various parameters characterizing the decision-maker, the complex of the simulation models was developed. These models are based on the assumptions that:  basic intellectual processes of the Rational Decision-Making Model can be adequately simulated and identified by the transient processes of the proportional-integral-derivative controller; basic intellectual processes of the Bounded Rationality and Intuitive Models can be adequately simulated and identified by the transient processes of the nonlinear elements.The taxonomy of the most typical automatic control theory elements and their compliance with certain decision-making models with a point of view of decision-making process specificity and decision-maker behavior during a certain time of professional activity was obtained.

METHOD OF STRATEGIC PLANNING AND MANAGEMENT DECISION-MAKING CONSIDERING THE LIFE CYCLE THEORY

Directory of Open Access Journals (Sweden)

Tetiana Kniazieva

2017-12-01

are made. Results of the survey are to substantiate the methodology of strategic planning under conditions of external environment uncertainty with the consideration of the life cycle theory. Practical implications: the possibilities of using life-cycle models allow: 1. reasonably predicting sales and plan production program; 2. determining the basic strategies at different stages of development; 3. determining the sequence of stages of enterprise development; 4. ensuring harmonious interaction of organizational characteristics with the external environment factors that influence the process of organizational development. Increasing the sustainability of the organization’s development can be achieved by re-establishment of dynamic changes in the plan in terms of using effective methods for forecasting with the consideration of the life cycle theory. It is necessary to take into account the interconnection between all levels of life cycles: industry, technology, enterprises, product; ensuring the competitive advantage of the organization. Using the theory of optimal solutions making in uncertain conditions under the analysis of long-term projects allows transferring qualitative factors into quantitative indicators that can be used in the future to bring investment projects to the same kind and choose the best. In conditions of increased uncertainty of the external environment, it is necessary to develop the theory of enterprise management, taking into account its life cycle, as well as the life cycle of its separate elements and processes at all levels. Combination of strategic management with the life cycles theory will increase the objectivity and effectiveness of taken management decisions. The accounting of the organization life cycles in strategic planning allows choosing an effective strategy.

the influence of dwelling place and self- efficacy on career decision

African Journals Online (AJOL)

Ada

Results were discussed in context relating to theories and previous findings on career decision making. The findings ... decisions. KEY WORDS: Dwelling place, Self- efficacy, Career, Career decision, Decision making. INTRODUCTION. What children will be when they grow up ..... emotions, dispositional, optimism and work.

Transversity results and computations in symplectic field theory

International Nuclear Information System (INIS)

Fabert, Oliver

2008-01-01

Although the definition of symplectic field theory suggests that one has to count holomorphic curves in cylindrical manifolds R x V equipped with a cylindrical almost complex structure J, it is already well-known from Gromov-Witten theory that, due to the presence of multiply-covered curves, we in general cannot achieve transversality for all moduli spaces even for generic choices of J. In this thesis we treat the transversality problem of symplectic field theory in two important cases. In the first part of this thesis we are concerned with the rational symplectic field theory of Hamiltonian mapping tori, which is also called the Floer case. For this observe that in the general geometric setup for symplectic field theory, the contact manifolds can be replaced by mapping tori M φ of symplectic manifolds (M,ω M ) with symplectomorphisms φ. While the cylindrical contact homology of M φ is given by the Floer homologies of powers of φ, the other algebraic invariants of symplectic field theory for M φ provide natural generalizations of symplectic Floer homology. For symplectically aspherical M and Hamiltonian φ we study the moduli spaces of rational curves and prove a transversality result, which does not need the polyfold theory by Hofer, Wysocki and Zehnder and allows us to compute the full contact homology of M φ ≅ S 1 x M. The second part of this thesis is devoted to the branched covers of trivial cylinders over closed Reeb orbits, which are the trivial examples of punctured holomorphic curves studied in rational symplectic field theory. Since all moduli spaces of trivial curves with virtual dimension one cannot be regular, we use obstruction bundles in order to find compact perturbations making the Cauchy-Riemann operator transversal to the zero section and show that the algebraic count of elements in the resulting regular moduli spaces is zero. Once the analytical foundations of symplectic field theory are established, our result implies that the

What defines 'enough' information? How policy workers make judgements and decisions during information seeking: preliminary results from an exploratory study

Directory of Open Access Journals (Sweden)

J.M. Berryman

2006-01-01

Full Text Available Introduction. Reports findings from research in progress investigating judgment and decision making during information seeking in the workplace, in particular, the assessment of enough information. Characteristics of this judgment and the role of context in shaping it are framed against theories of human judgment and decision making. Method. Thirty-three semi-structured interviews were conducted with public sector policy workers in Australia. Two interviews were carried out, the first with individual participants and the second, a joint interview with two participants. Interviews were taped and transcribed and inductive data analysis carried out. Findings. Findings discussed in this paper focus on contextual factors that frame policy workers' judgment and decision making while information seeking, factors including ill-structured problems, shifting goals, time stress and action-feedback loops. Also revealed was the importance of developing a framework, against which the judgment of enough information can be made, and the fluid and iterative nature of these judgments. Conclusion. The contextual factors reported show similarities with those identified by naturalistic decision making researchers, suggesting this new field of decision theory has much to offer researchers into information seeking in context.

Applying Social Learning Theory of Career Decision Making to Gay, Lesbian, Bisexual, Transgender, and Questioning Young Adults

Science.gov (United States)

Datti, Paul A.

2009-01-01

Incorporating J. D. Krumboltz's (1979) social learning theory of career decision making, the author explores career development issues for gay, lesbian, bisexual, transgender, and questioning (GLBTQ) adolescents and young adults. Unique challenges for the GLBTQ population are discussed, specific recommendations for effective career counseling with…

An Energy-Efficient Game-Theory-Based Spectrum Decision Scheme for Cognitive Radio Sensor Networks

Directory of Open Access Journals (Sweden)

Shelly Salim

2016-06-01

Full Text Available A cognitive radio sensor network (CRSN is a wireless sensor network in which sensor nodes are equipped with cognitive radio. In this paper, we propose an energy-efficient game-theory-based spectrum decision (EGSD scheme for CRSNs to prolong the network lifetime. Note that energy efficiency is the most important design consideration in CRSNs because it determines the network lifetime. The central part of the EGSD scheme consists of two spectrum selection algorithms: random selection and game-theory-based selection. The EGSD scheme also includes a clustering algorithm, spectrum characterization with a Markov chain, and cluster member coordination. Our performance study shows that EGSD outperforms the existing popular framework in terms of network lifetime and coordination overhead.

Goals and plans in decision making

Directory of Open Access Journals (Sweden)

David H. Krantz

2007-06-01

Full Text Available We propose a constructed-choice model for general decision making. The model departs from utility theory and prospect theory in its treatment of multiple goals and it suggests several different ways in which context can affect choice. It is particularly instructive to apply this model to protective decisions, which are often puzzling. Among other anomalies, people insure against non-catastrophic events, underinsure against catastrophic risks, and allow extraneous factors to influence insurance purchases and other protective decisions. Neither expected-utility theory nor prospect theory can explain these anomalies satisfactorily. To apply this model to the above anomalies, we consider many different insurance-related goals, organized in a taxonomy, and we consider the effects of context on goals, resources, plans and decision rules. The paper concludes by suggesting some prescriptions for improving individual decision making with respect to protective measures.

THE EXISTENTIAL FACTORS IN THE DECISION MAKING

Directory of Open Access Journals (Sweden)

Andrei Sergeevich Emelyanov

2015-09-01

Full Text Available This article is devoted to an extensive and modern area of scientific knowledge – Decision theory. The author comprehends and analyzes critically the methodological bases of the Decision theory, he thinks, it rejects the most important thing – a human. In the article the reconstruction of historical development in the Decision theory is considered and also existential factors and feelings are discussed, which appear in human being and operate the situation of decision-making.

Decision theory on the quality evaluation of medical images; A teoria da decisao na avaliacao da qualidade da imagem medica

Energy Technology Data Exchange (ETDEWEB)

Lessa, Patricia Silva

2001-10-01

The problem of quality has been a constant issue in every organization.One is always seeking to produce more, to do it at a lower cost, and to do it with better quality. However, in this country, there is no radiographic film quality control system for radiographic services. The tittle that actually gets done is essentially ad hoc and superficial. The implications of this gap, along with some other shortcomings that exist in process as a whole (the state of the x-ray equipment, the adequate to use in order to obtain a radiography, the quality of the film, the processing of the film, the brightness and homogeneity of the viewing boxes, the ability of the radiologist), have a very negative impact on the quality of the medical image, and, as result, to the quality of the medical diagnosis and therapy. It frequently happens that many radiographs have to be repeated, which leads to an increase of the patient's exposure to radiation, as well as of the cost of the procedure for the patient. Low quality radiographs that are not repeated greatly increase the probability of a wrong diagnosis, and consequently, of inadequate therapeutical procedures, thus producing increased incidence of bad outcomes and higher costs. The paradigm proposed in order to establish a system for the measurement of the image's quality is Decision Theory. The problem of the assessment of the image is studied by proposing a Decision Theory approach. The review of the literature reveals a great concern with the quality of the image, along with an absence of an adequate paradigm and several essentially empirical procedures. Image parameters are developed in order to formalize the problem in terms of Decision Theory, and various aspects of image digitalisation are exposed. Finally, a solution is presented, including a protocol for quality control. (author)

Evaluating Ethical Responsibility in Inverse Decision Support

Directory of Open Access Journals (Sweden)

Ahmad M. Kabil

2012-01-01

Full Text Available Decision makers have considerable autonomy on how they make decisions and what type of support they receive. This situation places the DSS analyst in a different relationship with the client than his colleagues who support regular MIS applications. This paper addresses an ethical dilemma in “Inverse Decision Support,” when the analyst supports a decision maker who requires justification for a preconceived selection that does not correspond to the best option that resulted from the professional resolution of the problem. An extended application of the AHP model is proposed for evaluating the ethical responsibility in selecting a suboptimal alternative. The extended application is consistent with the Inverse Decision Theory that is used extensively in medical decision making. A survey of decision analysts is used to assess their perspective of using the proposed extended application. The results show that 80% of the respondents felt that the proposed extended application is useful in business practices. 14% of them expanded the usability of the extended application to academic teaching of the ethics theory. The extended application is considered more usable in a country with a higher Transparency International Corruption Perceptions Index (TICPI than in a country with a lower one.

Financing Decisions of Companies Listed in the Different Segments of Corporate Governance of BM&FBovespa According to Pecking Order Theory

OpenAIRE

Tani, Bruna Bagalhi; Albanez, Tatiana

2016-01-01

Among the various theories about capital structure is Pecking Order theory, which establishes a hierarchy of preferences for sources of funding due to the existence of information asymmetry. In this paper, we seek to verify if this theory applies to the financing decisions of Brazilian companies that are listed in the different segments of corporate governance of BMF&Bovespa, analyzing whether, in the 2010-2014 period, a higher level of corporate governance implies lower adherence to this...

Financing Decisions of Companies Listed in the Different Segments of Corporate Governance of BM&FBovespa According to Pecking Order Theory

OpenAIRE

Tani, Bruna Bagalhi; Albanez, Tatiana

2016-01-01

Among the various theories about capital structure is Pecking Order theory, which establishes a hierarchy of preferences for sources of funding due to the existence of information asymmetry. In this paper, we seek to verify if this theory applies to the financing decisions of Brazilian companies that are listed in the different segments of corporate governance of BMF&Bovespa, analyzing whether, in the 2010-2014 period, a higher level of corporate governance implies lower adherence to this the...

Comparison of multiple-criteria decision-making methods - results of simulation study

Directory of Open Access Journals (Sweden)

Michał Adamczak

2016-12-01

Full Text Available Background: Today, both researchers and practitioners have many methods for supporting the decision-making process. Due to the conditions in which supply chains function, the most interesting are multi-criteria methods. The use of sophisticated methods for supporting decisions requires the parameterization and execution of calculations that are often complex. So is it efficient to use sophisticated methods? Methods: The authors of the publication compared two popular multi-criteria decision-making methods: the  Weighted Sum Model (WSM and the Analytic Hierarchy Process (AHP. A simulation study reflects these two decision-making methods. Input data for this study was a set of criteria weights and the value of each in terms of each criterion. Results: The iGrafx Process for Six Sigma simulation software recreated how both multiple-criteria decision-making methods (WSM and AHP function. The result of the simulation was a numerical value defining the preference of each of the alternatives according to the WSM and AHP methods. The alternative producing a result of higher numerical value  was considered preferred, according to the selected method. In the analysis of the results, the relationship between the values of the parameters and the difference in the results presented by both methods was investigated. Statistical methods, including hypothesis testing, were used for this purpose. Conclusions: The simulation study findings prove that the results obtained with the use of two multiple-criteria decision-making methods are very similar. Differences occurred more frequently in lower-value parameters from the "value of each alternative" group and higher-value parameters from the "weight of criteria" group.

Decision-Making Styles and Vocational Maturity: An Alternative Perspective.

Science.gov (United States)

Blustein, David L.

1987-01-01

Examined the relationship between decision-making styles and vocational maturity with a focus on the current discrepancy between research and theory regarding the utility of rational decision making. Results were consistent across 177 community college students, in that a reliance upon the rational style was the only significant decision-making…

Dual processing model of medical decision-making

Science.gov (United States)

2012-01-01

Background Dual processing theory of human cognition postulates that reasoning and decision-making can be described as a function of both an intuitive, experiential, affective system (system I) and/or an analytical, deliberative (system II) processing system. To date no formal descriptive model of medical decision-making based on dual processing theory has been developed. Here we postulate such a model and apply it to a common clinical situation: whether treatment should be administered to the patient who may or may not have a disease. Methods We developed a mathematical model in which we linked a recently proposed descriptive psychological model of cognition with the threshold model of medical decision-making and show how this approach can be used to better understand decision-making at the bedside and explain the widespread variation in treatments observed in clinical practice. Results We show that physician’s beliefs about whether to treat at higher (lower) probability levels compared to the prescriptive therapeutic thresholds obtained via system II processing is moderated by system I and the ratio of benefit and harms as evaluated by both system I and II. Under some conditions, the system I decision maker’s threshold may dramatically drop below the expected utility threshold derived by system II. This can explain the overtreatment often seen in the contemporary practice. The opposite can also occur as in the situations where empirical evidence is considered unreliable, or when cognitive processes of decision-makers are biased through recent experience: the threshold will increase relative to the normative threshold value derived via system II using expected utility threshold. This inclination for the higher diagnostic certainty may, in turn, explain undertreatment that is also documented in the current medical practice. Conclusions We have developed the first dual processing model of medical decision-making that has potential to enrich the current medical

APPLICATION OF ROUGH SET THEORY TO MAINTENANCE LEVEL DECISION-MAKING FOR AERO-ENGINE MODULES BASED ON INCREMENTAL KNOWLEDGE LEARNING

Institute of Scientific and Technical Information of China (English)

陆晓华; 左洪福; 蔡景

2013-01-01

The maintenance of an aero-engine usually includes three levels ,and the maintenance cost and period greatly differ depending on the different maintenance levels .To plan a reasonable maintenance budget program , airlines would like to predict the maintenance level of aero-engine before repairing in terms of performance parame-ters ,which can provide more economic benefits .The maintenance level decision rules are mined using the histori-cal maintenance data of a civil aero-engine based on the rough set theory ,and a variety of possible models of upda-ting rules produced by newly increased maintenance cases added to the historical maintenance case database are in-vestigated by the means of incremental machine learning .The continuously updated rules can provide reasonable guidance suggestions for engineers and decision support for planning a maintenance budget program before repai-ring .The results of an example show that the decision rules become more typical and robust ,and they are more accurate to predict the maintenance level of an aero-engine module as the maintenance data increase ,which illus-trates the feasibility of the represented method .

Game theory an introduction

CERN Document Server

Barron, E N

2013-01-01

An exciting new edition of the popular introduction to game theory and its applications The thoroughly expanded Second Edition presents a unique, hands-on approach to game theory. While most books on the subject are too abstract or too basic for mathematicians, Game Theory: An Introduction, Second Edition offers a blend of theory and applications, allowing readers to use theory and software to create and analyze real-world decision-making models. With a rigorous, yet accessible, treatment of mathematics, the book focuses on results that can be used to

Decision Making Models in the Financial Market: A Study in the Light of Prospect Theory and Limited Rationality

OpenAIRE

Alex Diego Souza Queiroz; Marilia Oliveira dos Reis; Joseilton Silveira da Rocha

2016-01-01

The objective of this study was to determine whether the decision-making models present in Prospect Theory and the theory of limited rationality could help managers of financial institutions identify and control the emotions and rational limitations involved in the credit granting process in the financial market. To this end, a study was carried out with 17 bank managers as experimental group and 31 other managers from different areas as control group. Adopting a quantitative approach to rese...

Transversity results and computations in symplectic field theory

Energy Technology Data Exchange (ETDEWEB)

Fabert, Oliver

2008-02-21

Although the definition of symplectic field theory suggests that one has to count holomorphic curves in cylindrical manifolds R x V equipped with a cylindrical almost complex structure J, it is already well-known from Gromov-Witten theory that, due to the presence of multiply-covered curves, we in general cannot achieve transversality for all moduli spaces even for generic choices of J. In this thesis we treat the transversality problem of symplectic field theory in two important cases. In the first part of this thesis we are concerned with the rational symplectic field theory of Hamiltonian mapping tori, which is also called the Floer case. For this observe that in the general geometric setup for symplectic field theory, the contact manifolds can be replaced by mapping tori M{sub {phi}} of symplectic manifolds (M,{omega}{sub M}) with symplectomorphisms {phi}. While the cylindrical contact homology of M{sub {phi}} is given by the Floer homologies of powers of {phi}, the other algebraic invariants of symplectic field theory for M{sub {phi}} provide natural generalizations of symplectic Floer homology. For symplectically aspherical M and Hamiltonian {phi} we study the moduli spaces of rational curves and prove a transversality result, which does not need the polyfold theory by Hofer, Wysocki and Zehnder and allows us to compute the full contact homology of M{sub {phi}} {approx_equal} S{sup 1} x M. The second part of this thesis is devoted to the branched covers of trivial cylinders over closed Reeb orbits, which are the trivial examples of punctured holomorphic curves studied in rational symplectic field theory. Since all moduli spaces of trivial curves with virtual dimension one cannot be regular, we use obstruction bundles in order to find compact perturbations making the Cauchy-Riemann operator transversal to the zero section and show that the algebraic count of elements in the resulting regular moduli spaces is zero. Once the analytical foundations of symplectic

Operational readiness decisions at nuclear power plants. Which factors influence the decisions?

International Nuclear Information System (INIS)

Kecklund, Lena; Petterson, Sara

2007-11-01

The purpose of this project has been to propose a model for how operational readiness decisions are made and to identify important factors influencing these decisions. The project has also studied the support from the management system for decision making, and made a comparison to how decisions are made in practice. This is mainly an explorative study, but it also deals with relevant research and theories about decision making. The project consists of several parts. The first part is composed of descriptions of important notations and terms, and a summary of relevant research about decision making and its relation to the management system. The project proposes a model for the decision making process. The second part consists of analyses of reports from SKI about operational readiness decisions. The last part is a case study at a nuclear power plant. The case study describes the support from work method theories at the nuclear power plant to the decision maker. Decision makers with different roles in the safety management system were interviewed to give a description of the decision making process and of factors influencing the decisions made in practice. The case study also consists of an analysis of decisions in some real events at the nuclear power plant, as well as of making interviews in connection with these. To sum up, this report presents a model for the decision process and describes the work method theories that support the different parts in the process, how the different parts are applied in practice and circumstances that influence the decision process. The results of the project give an understanding for decision making in operational readiness decisions and the factors that influence the decision. The results are meant to be used as a basis for further studies in other nuclear power plants. The results indicate that the decision process is facilitated if there are clear criteria and work methods, if the work methods are well established and if the

Advances in fuzzy decision making theory and practice

CERN Document Server

Skalna, Iwona; Gaweł, Bartłomiej; Basiura, Beata; Duda, Jerzy; Opiła, Janusz; Pełech-Pilichowski, Tomasz

2015-01-01

This book shows how common operation management methods and algorithms can be extended to deal with vague or imprecise information in decision-making problems. It describes how to combine decision trees, clustering, multi-attribute decision-making algorithms and Monte Carlo Simulation with the mathematical description of imprecise or vague information, and how to visualize such information. Moreover, it discusses a broad spectrum of real-life management problems including forecasting the apparent consumption of steel products, planning and scheduling of production processes, project portfolio selection and economic-risk estimation. It is a concise, yet comprehensive, reference source for researchers in decision-making and decision-makers in business organizations alike.

Models of Affective Decision Making: How Do Feelings Predict Choice?

Science.gov (United States)

Charpentier, Caroline J; De Neve, Jan-Emmanuel; Li, Xinyi; Roiser, Jonathan P; Sharot, Tali

2016-06-01

Intuitively, how you feel about potential outcomes will determine your decisions. Indeed, an implicit assumption in one of the most influential theories in psychology, prospect theory, is that feelings govern choice. Surprisingly, however, very little is known about the rules by which feelings are transformed into decisions. Here, we specified a computational model that used feelings to predict choices. We found that this model predicted choice better than existing value-based models, showing a unique contribution of feelings to decisions, over and above value. Similar to the value function in prospect theory, our feeling function showed diminished sensitivity to outcomes as value increased. However, loss aversion in choice was explained by an asymmetry in how feelings about losses and gains were weighted when making a decision, not by an asymmetry in the feelings themselves. The results provide new insights into how feelings are utilized to reach a decision. © The Author(s) 2016.

Moral imagination: Facilitating prosocial decision-making through scene imagery and theory of mind.

Science.gov (United States)

Gaesser, Brendan; Keeler, Kerri; Young, Liane

2018-02-01

How we imagine and subjectively experience the future can inform how we make decisions in the present. Here, we examined a prosocial effect of imagining future episodes in motivating moral decisions about helping others in need, as well as the underlying cognitive mechanisms. Across three experiments we found that people are more willing to help others in specific situations after imagining helping them in those situations. Manipulating the spatial representation of imagined future episodes in particular was effective at increasing intentions to help others, suggesting that scene imagery plays an important role in the prosocial effect of episodic simulation. Path modeling analyses revealed that episodic simulation interacts with theory of mind in facilitating prosocial responses but can also operate independently. Moreover, we found that our manipulations of the imagined helping episode increased actual prosocial behavior, which also correlated with changes in reported willingness to help. Based on these findings, we propose a new model that begins to capture the multifaceted mechanisms by which episodic simulation contributes to prosocial decision-making, highlighting boundaries and promising future directions to explore. Implications for research in moral cognition, imagination, and patients with impairments in episodic simulation are discussed. Copyright © 2017 Elsevier B.V. All rights reserved.

Many faces of rationality: Implications of the great rationality debate for clinical decision-making.

Science.gov (United States)

Djulbegovic, Benjamin; Elqayam, Shira

2017-10-01

Given that more than 30% of healthcare costs are wasted on inappropriate care, suboptimal care is increasingly connected to the quality of medical decisions. It has been argued that personal decisions are the leading cause of death, and 80% of healthcare expenditures result from physicians' decisions. Therefore, improving healthcare necessitates improving medical decisions, ie, making decisions (more) rational. Drawing on writings from The Great Rationality Debate from the fields of philosophy, economics, and psychology, we identify core ingredients of rationality commonly encountered across various theoretical models. Rationality is typically classified under umbrella of normative (addressing the question how people "should" or "ought to" make their decisions) and descriptive theories of decision-making (which portray how people actually make their decisions). Normative theories of rational thought of relevance to medicine include epistemic theories that direct practice of evidence-based medicine and expected utility theory, which provides the basis for widely used clinical decision analyses. Descriptive theories of rationality of direct relevance to medical decision-making include bounded rationality, argumentative theory of reasoning, adaptive rationality, dual processing model of rationality, regret-based rationality, pragmatic/substantive rationality, and meta-rationality. For the first time, we provide a review of wide range of theories and models of rationality. We showed that what is "rational" behaviour under one rationality theory may be irrational under the other theory. We also showed that context is of paramount importance to rationality and that no one model of rationality can possibly fit all contexts. We suggest that in context-poor situations, such as policy decision-making, normative theories based on expected utility informed by best research evidence may provide the optimal approach to medical decision-making, whereas in the context

Some Results on the Graph Theory for Complex Neutrosophic Sets

Directory of Open Access Journals (Sweden)

Shio Gai Quek

2018-05-01

Full Text Available Fuzzy graph theory plays an important role in the study of the symmetry and asymmetry properties of fuzzy graphs. With this in mind, in this paper, we introduce new neutrosophic graphs called complex neutrosophic graphs of type 1 (abbr. CNG1. We then present a matrix representation for it and study some properties of this new concept. The concept of CNG1 is an extension of the generalized fuzzy graphs of type 1 (GFG1 and generalized single-valued neutrosophic graphs of type 1 (GSVNG1. The utility of the CNG1 introduced here are applied to a multi-attribute decision making problem related to Internet server selection.

Delaying investments in sensor technology: The rationality of dairy farmers' investment decisions illustrated within the framework of real options theory.

Science.gov (United States)

Rutten, C J; Steeneveld, W; Oude Lansink, A G J M; Hogeveen, H

2018-05-02

The adoption rate of sensors on dairy farms varies widely. Whereas some sensors are hardly adopted, others are adopted by many farmers. A potential rational explanation for the difference in adoption may be the expected future technological progress in the sensor technology and expected future improved decision support possibilities. For some sensors not much progress can be expected because the technology has already made enormous progress in recent years, whereas for sensors that have only recently been introduced on the market, much progress can be expected. The adoption of sensors may thus be partly explained by uncertainty about the investment decision, in which uncertainty lays in the future performance of the sensors and uncertainty about whether improved informed decision support will become available. The overall aim was to offer a plausible example of why a sensor may not be adopted now. To explain this, the role of uncertainty about technological progress in the investment decision was illustrated for highly adopted sensors (automated estrus detection) and hardly adopted sensors (automated body condition score). This theoretical illustration uses the real options theory, which accounts for the role of uncertainty in the timing of investment decisions. A discrete event model, simulating a farm of 100 dairy cows, was developed to estimate the net present value (NPV) of investing now and investing in 5 yr in both sensor systems. The results show that investing now in automated estrus detection resulted in a higher NPV than investing 5 yr from now, whereas for the automated body condition score postponing the investment resulted in a higher NPV compared with investing now. These results are in line with the observation that farmers postpone investments in sensors. Also, the current high adoption of automated estrus detection sensors can be explained because the NPV of investing now is higher than the NPV of investing in 5 yr. The results confirm that

A safety decision analysis for Saudi Arabian nuclear research facility

International Nuclear Information System (INIS)

Abulfaraj, W.H.; Abdul-Fattah, A.F.

1985-01-01

Establishment of a nuclear research facility should be the first step in planning for introducing the nuclear energy to Saudi Arabia. The fuzzy set decision theory is selected among different decision theories to be applied for this analysis. Four research reactors from USA are selected for the present study. The IFDA computer code, based on the fuzzy set theory is applied. Results reveal that the FNR reactor is the best alternative for the case of Saudi Arabian nuclear research facility, and MITR is the second best. 17 refs

Are patient decision aids the best way to improve clinical decision making? Report of the IPDAS Symposium.

Science.gov (United States)

Holmes-Rovner, Margaret; Nelson, Wendy L; Pignone, Michael; Elwyn, Glyn; Rovner, David R; O'Connor, Annette M; Coulter, Angela; Correa-de-Araujo, Rosaly

2007-01-01

This article reports on the International Patient Decision Aid Standards Symposium held in 2006 at the annual meeting of the Society for Medical Decision Making in Cambridge, Massachusetts. The symposium featured a debate regarding the proposition that "decision aids are the best way to improve clinical decision making.'' The formal debate addressed the theoretical problem of the appropriate gold standard for an improved decision, efficacy of decision aids, and prospects for implementation. Audience comments and questions focused on both theory and practice: the often unacknowledged roots of decision aids in expected utility theory and the practical problems of limited patient decision aid implementation in health care. The participants' vote on the proposition was approximately half for and half against.

Decision-Making Under Risk: Integrating Perspectives From Biology, Economics, and Psychology.

Science.gov (United States)

Mishra, Sandeep

2014-08-01

Decision-making under risk has been variably characterized and examined in many different disciplines. However, interdisciplinary integration has not been forthcoming. Classic theories of decision-making have not been amply revised in light of greater empirical data on actual patterns of decision-making behavior. Furthermore, the meta-theoretical framework of evolution by natural selection has been largely ignored in theories of decision-making under risk in the human behavioral sciences. In this review, I critically examine four of the most influential theories of decision-making from economics, psychology, and biology: expected utility theory, prospect theory, risk-sensitivity theory, and heuristic approaches. I focus especially on risk-sensitivity theory, which offers a framework for understanding decision-making under risk that explicitly involves evolutionary considerations. I also review robust empirical evidence for individual differences and environmental/situational factors that predict actual risky decision-making that any general theory must account for. Finally, I offer steps toward integrating various theoretical perspectives and empirical findings on risky decision-making. © 2014 by the Society for Personality and Social Psychology, Inc.

Health decision making: lynchpin of evidence-based practice.

Science.gov (United States)

Spring, Bonnie

2008-01-01

Health decision making is both the lynchpin and the least developed aspect of evidence-based practice. The evidence-based practice process requires integrating the evidence with consideration of practical resources and patient preferences and doing so via a process that is genuinely collaborative. Yet, the literature is largely silent about how to accomplish integrative, shared decision making. for evidence-based practice are discussed for 2 theories of clinician decision making (expected utility and fuzzy trace) and 2 theories of patient health decision making (transtheoretical model and reasoned action). Three suggestions are offered. First, it would be advantageous to have theory-based algorithms that weight and integrate the 3 data strands (evidence, resources, preferences) in different decisional contexts. Second, patients, not providers, make the decisions of greatest impact on public health, and those decisions are behavioral. Consequently, theory explicating how provider-patient collaboration can influence patient lifestyle decisions made miles from the provider's office is greatly needed. Third, although the preponderance of data on complex decisions supports a computational approach, such an approach to evidence-based practice is too impractical to be widely applied at present. More troublesomely, until patients come to trust decisions made computationally more than they trust their providers' intuitions, patient adherence will remain problematic. A good theory of integrative, collaborative health decision making remains needed.

Towards a Global Comprehensive Context-driven and Decision-focused Theory and Method for a New Political Economy

Directory of Open Access Journals (Sweden)

Winston P. Nagan

2014-05-01

Full Text Available There is currently significant dissatisfaction with conventional economic theory. The unreliability of conventional theory as a predictor of future economic possibilities of catastrophes emphasizes the need for a new paradigm of political economy. This paper provides a capsule of some of the important limitations and consequences of the “old” paradigm. It proposes the necessary elements of a new paradigm and it seeks to locate the new paradigm of political economy in terms of its global reach. This requires a richer contextual approach, with the tools of contextual mapping. It has as well a focus on the global process of effective power and the emerging rule of law based constitutive processes. This is a key to the role of decision and the architecture of decision-making in political economy. We conclude with the global to local implications of the Vicos Experiment in Peru. Finally, we stress the wider lens of focus to identify the real and not the illusory generation of value. The implications here facilitate real global democratization.

Evidence-based decision making in health care settings: from theory to practice.

Science.gov (United States)

Kohn, Melanie Kazman; Berta, Whitney; Langley, Ann; Davis, David

2011-01-01

The relatively recent attention that evidence-based decision making has received in health care management has been at least in part due to the profound influence of evidence-based medicine. The result has been several comparisons in the literature between the use of evidence in health care management decisions and the use of evidence in medical decision making. Direct comparison, however, may be problematic, given the differences between medicine and management as they relate to (1) the nature of evidence that is brought to bear on decision making; (2) the maturity of empirical research in each field (in particular, studies that have substantiated whether or not and how evidence-based decision making is enacted); and (3) the context within which evidence-based decisions are made. By simultaneously reviewing evidence-based medicine and management, this chapter aims to inform future theorizing and empirical research on evidence-based decision making in health care settings.

Risk and Rationality in Adolescent Decision Making: Implications for Theory, Practice, and Public Policy.

Science.gov (United States)

Reyna, Valerie F; Farley, Frank

2006-09-01

conditions), adolescents are capable of rational decision making to achieve their goals. In practice, much depends on the particular situation in which a decision is made. In the heat of passion, in the presence of peers, on the spur of the moment, in unfamiliar situations, when trading off risks and benefits favors bad long-term outcomes, and when behavioral inhibition is required for good outcomes, adolescents are likely to reason more poorly than adults do. Brain maturation in adolescence is incomplete. Impulsivity, sensation seeking, thrill seeking, depression, and other individual differences also contribute to risk taking that resists standard risk-reduction interventions, although some conditions such as depression can be effectively treated with other approaches. Major explanatory models of risky decision making can be roughly divided into (a) those, including health-belief models and the theory of planned behavior, that adhere to a "rational" behavioral decision-making framework that stresses deliberate, quantitative trading off of risks and benefits; and (b) those that emphasize nondeliberative reaction to the perceived gists or prototypes in the immediate decision environment. (A gist is a fuzzy mental representation of the general meaning of information or experience; a prototype is a mental representation of a standard or typical example of a category.) Although perceived risks and especially benefits predict behavioral intentions and risk-taking behavior, behavioral willingness is an even better predictor of susceptibility to risk taking-and has unique explanatory power-because adolescents are willing to do riskier things than they either intend or expect to do. Dual-process models, such as the prototype/willingness model and fuzzy-trace theory, identify two divergent paths to risk taking: a reasoned and a reactive route. Such models explain apparent contradictions in the literature, including different causes of risk taking for different individuals

Unrealistic optimism and decision making

Directory of Open Access Journals (Sweden)

Božović Bojana

2009-01-01

Full Text Available One of the leading descriptive theories of decision-making under risk, Tversky & Kahneman's Prospect theory, reveals that normative explanation of decisionmaking, based only on principle of maximizing outcomes expected utility, is unsustainable. It also underlines the effect of alternative factors on decision-making. Framing effect relates to an influence that verbal formulation of outcomes has on choosing between certain and risky outcomes; in negative frame people tend to be risk seeking, whereas in positive frame people express risk averse tendencies. Individual decisions are not based on objective probabilities of outcomes, but on subjective probabilities that depend on outcome desirability. Unrealistically pessimistic subjects assign lower probabilities (than the group average to the desired outcomes, while unrealistically optimistic subjects assign higher probabilities (than the group average to the desired outcomes. Experiment was conducted in order to test the presumption that there's a relation between unrealistic optimism and decision-making under risk. We expected optimists to be risk seeking, and pessimist to be risk averse. We also expected such cognitive tendencies, if they should become manifest, to be framing effect resistant. Unrealistic optimism scale was applied, followed by the questionnaire composed of tasks of decision-making under risk. Results within the whole sample, and results of afterwards extracted groups of pessimists and optimists both revealed dominant risk seeking tendency that is resistant to the influence of subjective probabilities as well as to the influence of frame in which the outcome is presented.

Ethical Decision Making

DEFF Research Database (Denmark)

Lauesen, Linne Marie

2012-01-01

of the interaction between a corporation and its stakeholders. Methodology/approach: This paper offers a theoretical 'Organic Stakeholder Model' based on decision making theory, risk assessment and adaption to a rapidly changing world combined with appropriate stakeholder theory for ethical purposes in decision...... applicable): The Model is based on case studies, but the limited scope of the length of the paper did not leave room to show the empirical evidence, but only the theoretical study. Originality / value of a paper: The model offers a new way of combining risk management with ethical decision-making processes...... by the inclusion of multiple stakeholders. The conceptualization of the model enhances business ethics in decision making by managing and balancing stakeholder concerns with the same concerns as the traditional risk management models does – for the sake of the wider social responsibilities of the businesses...

Relating cost-benefit analysis results with transport project decisions in the Netherlands

NARCIS (Netherlands)

Annema, Jan Anne; Frenken, Koen|info:eu-repo/dai/nl/207145253; Koopmans, Carl; Kroesen, Maarten

2017-01-01

This paper relates the cost-benefit analysis (CBA) results of transportation policy proposals in the Netherlands with the decision to implement or abandon the proposal. The aim of this study is to explore the relation between the CBA results and decision-making. Multinomial logit regression models

Relating cost-benefit analysis results with transport project decisions in the Netherlands

NARCIS (Netherlands)

Annema, J.A.; Frenken, Koen; Koopmans, Carl; Kroesen, M.

2017-01-01

This paper relates the cost-benefit analysis (CBA) results of transportation policy proposals in the Netherlands with the decision to implement or abandon the proposal. The aim of this study is to explore the relation between the CBA results and decision-making. Multinomial logit regression

Dual processing model of medical decision-making

Directory of Open Access Journals (Sweden)

Djulbegovic Benjamin

2012-09-01

Full Text Available Abstract Background Dual processing theory of human cognition postulates that reasoning and decision-making can be described as a function of both an intuitive, experiential, affective system (system I and/or an analytical, deliberative (system II processing system. To date no formal descriptive model of medical decision-making based on dual processing theory has been developed. Here we postulate such a model and apply it to a common clinical situation: whether treatment should be administered to the patient who may or may not have a disease. Methods We developed a mathematical model in which we linked a recently proposed descriptive psychological model of cognition with the threshold model of medical decision-making and show how this approach can be used to better understand decision-making at the bedside and explain the widespread variation in treatments observed in clinical practice. Results We show that physician’s beliefs about whether to treat at higher (lower probability levels compared to the prescriptive therapeutic thresholds obtained via system II processing is moderated by system I and the ratio of benefit and harms as evaluated by both system I and II. Under some conditions, the system I decision maker’s threshold may dramatically drop below the expected utility threshold derived by system II. This can explain the overtreatment often seen in the contemporary practice. The opposite can also occur as in the situations where empirical evidence is considered unreliable, or when cognitive processes of decision-makers are biased through recent experience: the threshold will increase relative to the normative threshold value derived via system II using expected utility threshold. This inclination for the higher diagnostic certainty may, in turn, explain undertreatment that is also documented in the current medical practice. Conclusions We have developed the first dual processing model of medical decision-making that has potential to

Modeling Human Elements of Decision-Making

Science.gov (United States)

2002-06-01

include factors such as personality, emotion , and level of expertise, which vary from individual to individual. The process of decision - making during... rational choice theories such as utility theory, to more descriptive psychological models that focus more on the process of decision - making ...descriptive nature, they provide a more realistic representation of human decision - making than the rationally based models. However these models do

MANAGERIAL DECISION IN INNOVATIVE EDUCATION SYSTEMS STATISTICAL SURVEY BASED ON SAMPLE THEORY

Directory of Open Access Journals (Sweden)

Gheorghe SĂVOIU

2012-12-01

Full Text Available Before formulating the statistical hypotheses and the econometrictesting itself, a breakdown of some of the technical issues is required, which are related to managerial decision in innovative educational systems, the educational managerial phenomenon tested through statistical and mathematical methods, respectively the significant difference in perceiving the current qualities, knowledge, experience, behaviour and desirable health, obtained through a questionnaire applied to a stratified population at the end,in the educational environment, either with educational activities, or with simultaneously managerial and educational activities. The details having to do with research focused on the survey theory, turning into a working tool the questionnaires and statistical data that are processed from those questionnaires, are summarized below.

The role (or not) of economic evaluation at the micro level: can Bourdieu's theory provide a way forward for clinical decision-making?

Science.gov (United States)

Lessard, Chantale; Contandriopoulos, André-Pierre; Beaulieu, Marie-Dominique

2010-06-01

Despite increasing interest in health economic evaluation, investigations have shown limited use by micro (clinical) level decision-makers. A considerable amount of health decisions take place daily at the point of the clinical encounter; especially in primary care. Since every decision has an opportunity cost, ignoring economic information in family physicians' (FPs) decision-making may have a broad impact on health care efficiency. Knowledge translation of economic evaluation is often based on taken-for-granted assumptions about actors' interests and interactions, neglecting much of the complexity of social reality. Health economics literature frequently assumes a rational and linear decision-making process. Clinical decision-making is in fact a complex social, dynamic, multifaceted process, involving relationships and contextual embeddedness. FPs are embedded in complex social networks that have a significant impact on skills, attitudes, knowledge, practices, and on the information being used. Because of their socially constructed nature, understanding preferences, professional culture, practices, and knowledge translation requires serious attention to social reality. There has been little exploration by health economists of whether the problem may be more fundamental and reside in a misunderstanding of the process of decision-making. There is a need to enhance our understanding of the role of economic evaluation in decision-making from a disciplinary perspective different than health economics. This paper argues for a different conceptualization of the role of economic evaluation in FPs' decision-making, and proposes Bourdieu's sociological theory as a research framework. Bourdieu's theory of practice illustrates how the context-sensitive nature of practice must be understood as a socially constituted practical knowledge. The proposed approach could substantially contribute to a more complex understanding of the role of economic evaluation in FPs' decision

A diffusion decision model analysis of evidence variability in the lexical decision task

NARCIS (Netherlands)

Tillman, Gabriel; Osth, Adam F.; van Ravenzwaaij, Don; Heathcote, Andrew

2017-01-01

The lexical-decision task is among the most commonly used paradigms in psycholinguistics. In both the signal-detection theory and Diffusion Decision Model (DDM; Ratcliff, Gomez, & McKoon, Psychological Review, 111, 159–182, 2004) frameworks, lexical-decisions are based on a continuous source of

Exact results for integrable asymptotically-free field theories

CERN Document Server

Evans, J M; Evans, Jonathan M; Hollowood, Timothy J

1995-01-01

An account is given of a technique for testing the equivalence between an exact factorizable S-matrix and an asymptotically-free Lagrangian field theory in two space-time dimensions. The method provides a way of resolving CDD ambiguities in the S-matrix and it also allows for an exact determination of the physical mass in terms of the Lambda parameter of perturbation theory. The results for various specific examples are summarized. (To appear in the Proceedings of the Conference on Recent Developments in Quantum Field Theory and Statistical Mechanics, ICTP, Trieste, Easter 1995).

Human Decision-Making under Limited Time

OpenAIRE

Ortega, Pedro A.; Stocker, Alan A.

2016-01-01

Subjective expected utility theory assumes that decision-makers possess unlimited computational resources to reason about their choices; however, virtually all decisions in everyday life are made under resource constraints - i.e. decision-makers are bounded in their rationality. Here we experimentally tested the predictions made by a formalization of bounded rationality based on ideas from statistical mechanics and information-theory. We systematically tested human subjects in their ability t...

Organizational decision making

OpenAIRE

Grandori, Anna

2015-01-01

Approved for public release; distribution is unlimited This thesis develops a heuristic approach to organizational decision-making by synthesizing the classical, neo-classical and contingency approaches to organization theory. The conceptual framework developed also integrates the rational and cybernetic approaches with cognitive processes underlying the decision-making process. The components of the approach address the role of environment in organizational decision-maki...

Negotiated reorienting: a grounded theory of nurses' end-of-life decision-making in the intensive care unit.

Science.gov (United States)

Gallagher, Ann; Bousso, Regina Szylit; McCarthy, Joan; Kohlen, Helen; Andrews, Tom; Paganini, Maria Cristina; Abu-El-Noor, Nasser Ibrahim; Cox, Anna; Haas, Margit; Arber, Anne; Abu-El-Noor, Mysoon Khalil; Baliza, Michelle Freire; Padilha, Katia Grillo

2015-04-01

Intensive care units (ICUs) focus on treatment for those who are critically ill and interventions to prolong life. Ethical issues arise when decisions have to be made regarding the withdrawal and withholding of life-sustaining treatment and the shift to comfort and palliative care. These issues are particularly challenging for nurses when there are varying degrees of uncertainty regarding prognosis. Little is known about nurses' end-of-life (EoL) decision-making practice across cultures. To understand nurses' EoL decision-making practices in ICUs in different cultural contexts. We collected and analysed qualitative data using Grounded Theory. Interviews were conducted with experienced ICU nurses in university or hospital premises in five countries: Brazil, England, Germany, Ireland and Palestine. Semi-structured interviews were conducted with 51 nurses (10 in Brazil, 9 in England, 10 in Germany, 10 in Ireland and 12 nurses in Palestine). They were purposefully and theoretically selected to include nurses having a variety of characteristics and experiences concerning end-of-life (EoL) decision-making. The study used grounded theory to inform data collection and analysis. Interviews were facilitated by using key questions. The comparative analysis of the data within and across data generated by the different research teams enabled researchers to develop a deeper understanding of EoL decision-making practices in the ICU. Ethical approval was granted in each of the participating countries and voluntary informed consent obtained from each participant. The core category that emerged was 'negotiated reorienting'. Whilst nurses do not make the 'ultimate' EoL decisions, they engage in two core practices: consensus seeking (involving coaxing, information cuing and voice enabling); and emotional holding (creating time-space and comfort giving). There was consensus regarding the core concept and core practices employed by nurses in the ICUs in the five countries. However

The Application of Recognition-Primed Decision Theory to Decisions Made in an Outdoor Education Context

Science.gov (United States)

Boyes, Mike; Potter, Tom

2015-01-01

This research examined the decisions that highly experienced outdoor leaders made on backpacking expeditions conducted by a tertiary institution in the Southern Alps of New Zealand. The purpose of the research was to document decision problems and explore them as Recognition-Primed Decisions (RPD) within naturalistic decision making (NDM)…

Decision strategy research: system analysis

International Nuclear Information System (INIS)

Carle, B.

2000-01-01

The objective of SCK-CEN's R and D programme on decision strategies is (1) to develop theories, methods and software tools which help decision makers shape, analyse and understand their decisions; (2) to study group processes in decision making; (3) to apply theories, methods and tools in a context related to nuclear emergency preparedness and more generally to support in a context dealing with ionising radiation; (4) to increase SCK-CEN's knowledge on general emergency preparedness and to introduce SCK-CEN staff to computer supported decision techniques. Ongoing R and D has two components: (1) the study of the use of information and knowledge transfer in group decision processes, and more specific studying important factors when computers are used as information source and communication tool; and (2) the study of preference modelling individually and during group decision processes. Principal achievements in 1999 are described

Decision strategy research: system analysis

Energy Technology Data Exchange (ETDEWEB)

Carle, B

2000-07-01

The objective of SCK-CEN's R and D programme on decision strategies is (1) to develop theories, methods and software tools which help decision makers shape, analyse and understand their decisions; (2) to study group processes in decision making; (3) to apply theories, methods and tools in a context related to nuclear emergency preparedness and more generally to support in a context dealing with ionising radiation; (4) to increase SCK-CEN's knowledge on general emergency preparedness and to introduce SCK-CEN staff to computer supported decision techniques. Ongoing R and D has two components: (1) the study of the use of information and knowledge transfer in group decision processes, and more specific studying important factors when computers are used as information source and communication tool; and (2) the study of preference modelling individually and during group decision processes. Principal achievements in 1999 are described.

Cognitive schema and naturalistic decision making in evidence-based practices.

Science.gov (United States)

Falzer, Paul R

2004-04-01

A recent article in this journal proposed a naturalistic approach to decision making that overcomes problems intrinsic to classical decision theory. The approach emphasizes cognitive and multi-level processes, the development of expert reasoning, and the role of decision support in individual and organizational decision making. The current paper builds on this effort by suggesting a naturalistic, multi-level, theory that can facilitate the dissemination of evidence-based practices (EBPs). The paper presents "Image Theory," a theory that has been extensively investigated in other disciplines, but has yet to be utilized in medical decision research. It is suggested that its rich, empirically tested, distinctions among kinds of cognitive and organizational processes and types of decisions and tasks make Image Theory especially valuable in describing impediments to implementing EBPs. The paper discusses how naturalistic theory can assist clinicians, administrators, researchers, and policy makers in achieving a balance between evidence-based medicine and patient-centered practice.

Relevance of a Managerial Decision-Model to Educational Administration.

Science.gov (United States)

Lundin, Edward.; Welty, Gordon

The rational model of classical economic theory assumes that the decision maker has complete information on alternatives and consequences, and that he chooses the alternative that maximizes expected utility. This model does not allow for constraints placed on the decision maker resulting from lack of information, organizational pressures,…

Guide to Decision-Making Getting it more right than wrong

CERN Document Server

Drummond, Helga

2012-01-01

We make decisions, and these decisions make us and our organisations. And in theory, decision-making should be easy: a problem is identified, the decision-makers generate solutions, and choose the optimal one - and powerful mathematical tools are available to facilitate the task. Yet if it is all so simple why do organisations, both private and public sector, keep making mistakes - the results of which are borne by shareholders, employees, taxpayers and ultimately society at large? This guide to decision making. by leading decision science academic Helga Drummond, aims to improve decision-maki

"Utilizing" signal detection theory.

Science.gov (United States)

Lynn, Spencer K; Barrett, Lisa Feldman

2014-09-01

What do inferring what a person is thinking or feeling, judging a defendant's guilt, and navigating a dimly lit room have in common? They involve perceptual uncertainty (e.g., a scowling face might indicate anger or concentration, for which different responses are appropriate) and behavioral risk (e.g., a cost to making the wrong response). Signal detection theory describes these types of decisions. In this tutorial, we show how incorporating the economic concept of utility allows signal detection theory to serve as a model of optimal decision making, going beyond its common use as an analytic method. This utility approach to signal detection theory clarifies otherwise enigmatic influences of perceptual uncertainty on measures of decision-making performance (accuracy and optimality) and on behavior (an inverse relationship between bias magnitude and sensitivity optimizes utility). A "utilized" signal detection theory offers the possibility of expanding the phenomena that can be understood within a decision-making framework. © The Author(s) 2014.

A spiral model of musical decision-making.

Science.gov (United States)

Bangert, Daniel; Schubert, Emery; Fabian, Dorottya

2014-01-01

This paper describes a model of how musicians make decisions about performing notated music. The model builds on psychological theories of decision-making and was developed from empirical studies of Western art music performance that aimed to identify intuitive and deliberate processes of decision-making, a distinction consistent with dual-process theories of cognition. The model proposes that the proportion of intuitive (Type 1) and deliberate (Type 2) decision-making processes changes with increasing expertise and conceptualizes this change as movement along a continually narrowing upward spiral where the primary axis signifies principal decision-making type and the vertical axis marks level of expertise. The model is intended to have implications for the development of expertise as described in two main phases. The first is movement from a primarily intuitive approach in the early stages of learning toward greater deliberation as analytical techniques are applied during practice. The second phase occurs as deliberate decisions gradually become automatic (procedural), increasing the role of intuitive processes. As a performer examines more issues or reconsiders decisions, the spiral motion toward the deliberate side and back to the intuitive is repeated indefinitely. With increasing expertise, the spiral tightens to signify greater control over decision type selection. The model draws on existing theories, particularly Evans' (2011) Intervention Model of dual-process theories, Cognitive Continuum Theory Hammond et al. (1987), Hammond (2007), Baylor's (2001) U-shaped model for the development of intuition by level of expertise. By theorizing how musical decision-making operates over time and with increasing expertise, this model could be used as a framework for future research in music performance studies and performance science more generally.

A spiral model of musical decision-making

Directory of Open Access Journals (Sweden)

Daniel eBangert

2014-04-01

Full Text Available This paper describes a model of how musicians make decisions about performing notated music. The model builds on psychological theories of decision-making and was developed from empirical studies of Western art music performance that aimed to identify intuitive and deliberate processes of decision-making, a distinction consistent with dual-process theories of cognition. The model proposes that the proportion of intuitive (Type 1 and deliberate (Type 2 decision-making processes changes with increasing expertise and conceptualises this change as movement along a continually narrowing upward spiral where the primary axis signifies principal decision-making type and the vertical axis marks level of expertise. The model is intended to have implications for the development of expertise as described in two main phases. The first is movement from a primarily intuitive approach in the early stages of learning towards greater deliberation as analytical techniques are applied during practice. The second phase occurs as deliberate decisions gradually become automatic (procedural, increasing the role of intuitive processes. As a performer examines more issues or reconsiders decisions, the spiral motion towards the deliberate side and back to the intuitive is repeated indefinitely. With increasing expertise, the spiral tightens to signify greater control over decision type selection. The model draws on existing theories, particularly Evans’ (2011 Intervention Model of dual-process theories, Cognitive Continuum Theory (Hammond et al., 1987; Hammond, 2007, and Baylor’s (2001 U-shaped model for the development of intuition by level of expertise. By theorising how musical decision-making operates over time and with increasing expertise, this model could be used as a framework for future research in music performance studies and performance science more generally.

The Bayesian statistical decision theory applied to the optimization of generating set maintenance

International Nuclear Information System (INIS)

Procaccia, H.; Cordier, R.; Muller, S.

1994-11-01

The difficulty in RCM methodology is the allocation of a new periodicity of preventive maintenance on one equipment when a critical failure has been identified: until now this new allocation has been based on the engineer's judgment, and one must wait for a full cycle of feedback experience before to validate it. Statistical decision theory could be a more rational alternative for the optimization of preventive maintenance periodicity. This methodology has been applied to inspection and maintenance optimization of cylinders of diesel generator engines of 900 MW nuclear plants, and has shown that previous preventive maintenance periodicity can be extended. (authors). 8 refs., 5 figs

Emotion and decision making.

Science.gov (United States)

Lerner, Jennifer S; Li, Ye; Valdesolo, Piercarlo; Kassam, Karim S

2015-01-03

A revolution in the science of emotion has emerged in recent decades, with the potential to create a paradigm shift in decision theories. The research reveals that emotions constitute potent, pervasive, predictable, sometimes harmful and sometimes beneficial drivers of decision making. Across different domains, important regularities appear in the mechanisms through which emotions influence judgments and choices. We organize and analyze what has been learned from the past 35 years of work on emotion and decision making. In so doing, we propose the emotion-imbued choice model, which accounts for inputs from traditional rational choice theory and from newer emotion research, synthesizing scientific models.

Experimental results surprise quantum theory

International Nuclear Information System (INIS)

White, C.

1986-01-01

Interest in results from Darmstadt that positron-electron pairs are created in nuclei with high atomic numbers (in the Z range from 180-188) lies in the occurrence of a quantized positron kinetic energy peak at 300. The results lend substance to the contention of Erich Bagge that the traditionally accepted symmetries in positron-electron emission do not exist and, therefore, there is no need to posit the existence of the neutrino. The search is on for the decay of a previously unknown boson to account for the findings, which also points to the need for a major revision in quantum theory. 1 figure

Exaggerated risk: prospect theory and probability weighting in risky choice.

Science.gov (United States)

Kusev, Petko; van Schaik, Paul; Ayton, Peter; Dent, John; Chater, Nick

2009-11-01

In 5 experiments, we studied precautionary decisions in which participants decided whether or not to buy insurance with specified cost against an undesirable event with specified probability and cost. We compared the risks taken for precautionary decisions with those taken for equivalent monetary gambles. Fitting these data to Tversky and Kahneman's (1992) prospect theory, we found that the weighting function required to model precautionary decisions differed from that required for monetary gambles. This result indicates a failure of the descriptive invariance axiom of expected utility theory. For precautionary decisions, people overweighted small, medium-sized, and moderately large probabilities-they exaggerated risks. This effect is not anticipated by prospect theory or experience-based decision research (Hertwig, Barron, Weber, & Erev, 2004). We found evidence that exaggerated risk is caused by the accessibility of events in memory: The weighting function varies as a function of the accessibility of events. This suggests that people's experiences of events leak into decisions even when risk information is explicitly provided. Our findings highlight a need to investigate how variation in decision content produces variation in preferences for risk.

The Diffusion Decision Model: Theory and Data for Two-Choice Decision Tasks

OpenAIRE

Ratcliff, Roger; McKoon, Gail

2008-01-01

The diffusion decision model allows detailed explanations of behavior in two-choice discrimination tasks. In this article, the model is reviewed to show how it translates behavioral data—accuracy, mean response times, and response time distributions—into components of cognitive processing. Three experiments are used to illustrate experimental manipulations of three components: stimulus difficulty affects the quality of information on which a decision is based; instructions emphasizing either ...

Prospect relativity: how choice options influence decision under risk.

Science.gov (United States)

Stewart, Neil; Chater, Nick; Stott, Henry P; Reimers, Stian

2003-03-01

In many theories of decision under risk (e.g., expected utility theory, rank-dependent utility theory, and prospect theory), the utility of a prospect is independent of other options in the choice set. The experiments presented here show a large effect of the available options, suggesting instead that prospects are valued relative to one another. The judged certainty equivalent for a prospect is strongly influenced by the options available. Similarly, the selection of a preferred prospect is strongly influenced by the prospects available. Alternative theories of decision under risk (e.g., the stochastic difference model, multialternative decision field theory, and range frequency theory), where prospects are valued relative to one another, can provide an account of these context effects.

Bayesian Decision Theoretical Framework for Clustering

Science.gov (United States)

Chen, Mo

2011-01-01

In this thesis, we establish a novel probabilistic framework for the data clustering problem from the perspective of Bayesian decision theory. The Bayesian decision theory view justifies the important questions: what is a cluster and what a clustering algorithm should optimize. We prove that the spectral clustering (to be specific, the…

Changing delay discounting in the light of the competing neurobehavioral decision systems theory: a review.

Science.gov (United States)

Koffarnus, Mikhail N; Jarmolowicz, David P; Mueller, E Terry; Bickel, Warren K

2013-01-01

Excessively devaluing delayed reinforcers co-occurs with a wide variety of clinical conditions such as drug dependence, obesity, and excessive gambling. If excessive delay discounting is a trans-disease process that underlies the choice behavior leading to these and other negative health conditions, efforts to change an individual's discount rate are arguably important. Although discount rate is often regarded as a relatively stable trait, descriptions of interventions and environmental manipulations that successfully alter discount rate have begun to appear in the literature. In this review, we compare published examples of procedures that change discount rate and classify them into categories of procedures, including therapeutic interventions, direct manipulation of the executive decision-making system, framing effects, physiological state effects, and acute drug effects. These changes in discount rate are interpreted from the perspective of the competing neurobehavioral decision systems theory, which describes a combination of neurological and behavioral processes that account for delay discounting. We also suggest future directions that researchers could take to identify the mechanistic processes that allow for changes in discount rate and to test whether the competing neurobehavioral decision systems view of delay discounting is correct. © Society for the Experimental Analysis of Behavior.

A decision support system prototype including human factors based on the TOGA meta-theory approach

International Nuclear Information System (INIS)

Cappelli, M.; Memmi, F.; Gadomski, A. M.; Sepielli, M.

2012-01-01

The human contribution to the risk of operation of complex technological systems is often not negligible and sometimes tends to become significant, as shown by many reports on incidents and accidents occurred in the past inside Nuclear Power Plants (NPPs). An error of a human operator of a NPP can derive by both omission and commission. For instance, complex commission errors can also lead to significant catastrophic technological accidents, as for the case of the Three Mile Island accident. Typically, the problem is analyzed by focusing on the single event chain that has provoked the incident or accident. What is needed is a general framework able to include as many parameters as possible, i.e. both technological and human factors. Such a general model could allow to envisage an omission or commission error before it can happen or, alternatively, suggest preferred actions to do in order to take countermeasures to neutralize the effect of the error before it becomes critical. In this paper, a preliminary Decision Support System (DSS) based on the so-called (-) TOGA meta-theory approach is presented. The application of such a theory to the management of nuclear power plants has been presented in the previous ICAPP 2011. Here, a human factor simulator prototype is proposed in order to include the effect of human errors in the decision path. The DSS has been developed using a TRIGA research reactor as reference plant, and implemented using the LabVIEW programming environment and the Finite State Machine (FSM) model The proposed DSS shows how to apply the Universal Reasoning Paradigm (URP) and the Universal Management Paradigm (UMP) to a real plant context. The DSS receives inputs from instrumentation data and gives as output a suggested decision. It is obtained as the result of an internal elaborating process based on a performance function. The latter, describes the degree of satisfaction and efficiency, which are dependent on the level of responsibility related to

Behavioural Finance: Theory and Survey

Directory of Open Access Journals (Sweden)

Daiva Jurevičienė

2013-04-01

Full Text Available The paper analyses the importance of behavioural finance theories in household decision-making process. Behavioural finance theories investigate emotional characteristics to explain subjective factors and irrational anomalies in financial markets. In this regard, behavioural theories and behavioural anomalies in the decision-making process are examined; the application opportunities in the financial market are described. The aim of investigation is to determine the basic features and slopes of behavioural finance in concordance with financial decisions of a household. The survey method was applied to ascertain financial behaviour of literate households.

A dynamic decision model for portfolio investment and assets management

Institute of Scientific and Technical Information of China (English)

QIAN Edward Y.; FENG Ying; HIGGISION James

2005-01-01

This paper addresses a dynamic portfolio investment problem. It discusses how we can dynamically choose candidate assets, achieve the possible maximum revenue and reduce the risk to the minimum level. The paper generalizes Markowitz's portfolio selection theory and Sharpe's rule for investment decision. An analytical solution is presented to show how an institutional or individual investor can combine Markowitz's portfolio selection theory, generalized Sharpe's rule and Value-at-Risk(VaR) to find candidate assets and optimal level of position sizes for investment (dis-investment). The result shows that the generalized Markowitz's portfolio selection theory and generalized Sharpe's rule improve decision making for investment.

Theory, Software and Testing Examples for Decision Support Systems

OpenAIRE

Lewandowski, A.; Wierzbicki, A.P.

1987-01-01

Research in methodology of Decision Support Systems is one of the activities within the System and Decision Sciences Program which was initiated seven years ago and is still in the center of interests of SDS. During these years several methodological approaches and software tools have been developed; among others the DIDAS (Dynamic Interactive Decision Analysis and Support) and SCDAS (Selection Committed Decision Analysis and Support). Both methodologies gained a certain level of popularity a...

Passionate Rationalism: The Role of Emotion in Decision Making

Science.gov (United States)

Lakomski, Gabriele; Evers, Colin W.

2010-01-01

Purpose: The purpose of this paper is to argue that emotion has a central role to play in rational decision making based on recent research in the neuroanatomy of emotion. As a result, traditional rational decision-making theories, including Herbert Simon's modified model of satisficing that sharply demarcates emotions and values from rationality…

Judgment and decision making.

Science.gov (United States)

Mellers, B A; Schwartz, A; Cooke, A D

1998-01-01

For many decades, research in judgment and decision making has examined behavioral violations of rational choice theory. In that framework, rationality is expressed as a single correct decision shared by experimenters and subjects that satisfies internal coherence within a set of preferences and beliefs. Outside of psychology, social scientists are now debating the need to modify rational choice theory with behavioral assumptions. Within psychology, researchers are debating assumptions about errors for many different definitions of rationality. Alternative frameworks are being proposed. These frameworks view decisions as more reasonable and adaptive that previously thought. For example, "rule following." Rule following, which occurs when a rule or norm is applied to a situation, often minimizes effort and provides satisfying solutions that are "good enough," though not necessarily the best. When rules are ambiguous, people look for reasons to guide their decisions. They may also let their emotions take charge. This chapter presents recent research on judgment and decision making from traditional and alternative frameworks.

Exact Results in Non-Supersymmetric Large N Orientifold Field Theories

CERN Document Server

Armoni, Adi; Veneziano, Gabriele

2003-01-01

We consider non-supersymmetric large N orientifold field theories. Specifically, we discuss a gauge theory with a Dirac fermion in the anti-symmetric tensor representation. We argue that, at large N and in a large part of its bosonic sector, this theory is non-perturbatively equivalent to N=1 SYM, so that exact results established in the latter (parent) theory also hold in the daughter orientifold theory. In particular, the non-supersymmetric theory has an exactly calculable bifermion condensate, exactly degenerate parity doublets, and a vanishing cosmological constant (all this to leading order in 1/N).

Developmental reversals in risky decision making: intelligence agents show larger decision biases than college students.

Science.gov (United States)

Reyna, Valerie F; Chick, Christina F; Corbin, Jonathan C; Hsia, Andrew N

2014-01-01

Intelligence agents make risky decisions routinely, with serious consequences for national security. Although common sense and most theories imply that experienced intelligence professionals should be less prone to irrational inconsistencies than college students, we show the opposite. Moreover, the growth of experience-based intuition predicts this developmental reversal. We presented intelligence agents, college students, and postcollege adults with 30 risky-choice problems in gain and loss frames and then compared the three groups' decisions. The agents not only exhibited larger framing biases than the students, but also were more confident in their decisions. The postcollege adults (who were selected to be similar to the students) occupied an interesting middle ground, being generally as biased as the students (sometimes more biased) but less biased than the agents. An experimental manipulation testing an explanation for these effects, derived from fuzzy-trace theory, made the students look as biased as the agents. These results show that, although framing biases are irrational (because equivalent outcomes are treated differently), they are the ironical output of cognitively advanced mechanisms of meaning making.

Strategic-decision quality in public organizations : an information processing perspective

OpenAIRE

George, Bert; Desmidt, Sebastian

2018-01-01

textabstractThis study draws on information processing theory to investigate predictors of strategic-decision quality in public organizations. Information processing theory argues that (a) rational planning practices contribute to strategic-decision quality by injecting information into decision making and (b) decision makers contribute to strategic-decision quality by exchanging information during decision making. These assumptions are tested upon 55 Flemish pupil guidance centers. Rational ...

[Influenza A from the rational choice theory: proposals for decision making in prevention policies].

Science.gov (United States)

Peña, Francisco Garrido; Fernández, Luís Andrés López; García, Eugenia Gil

2009-01-01

This article is a reflection on the social uncertainty caused by Influenza A and on the consequences that it can have on decision making in health promotion policies. We use concepts and metaphors of the Rational Choice Theory, among them, the "in gratitude effect" or the "distrust effect", as we analyse how these can become obstacles for the efficiency of prevention policies. Then, we focus on the information asymmetry of the principal-agent relationship, and we propose measures to diminish the "moral risk" that they cause. We finish by advancing some proposals for designing lines and strategies of action in health promotion policies.

Error affect inoculation for a complex decision-making task.

Science.gov (United States)

Tabernero, Carmen; Wood, Robert E

2009-05-01

Individuals bring knowledge, implicit theories, and goal orientations to group meetings. Group decisions arise out of the exchange of these orientations. This research explores how a trainee's exploratory and deliberate process (an incremental theory and learning goal orientation) impacts the effectiveness of individual and group decision-making processes. The effectiveness of this training program is compared with another program that included error affect inoculation (EAI). Subjects were 40 Spanish Policemen in a training course. They were distributed in two training conditions for an individual and group decision-making task. In one condition, individuals received the Self-Guided Exploration plus Deliberation Process instructions, which emphasised exploring the options and testing hypotheses. In the other condition, individuals also received instructions based on Error Affect Inoculation (EAI), which emphasised positive affective reactions to errors and mistakes when making decisions. Results show that the quality of decisions increases when the groups share their reasoning. The AIE intervention promotes sharing information, flexible initial viewpoints, and improving the quality of group decisions. Implications and future directions are discussed.

DECISION LEVEL FUSION OF LIDAR DATA AND AERIAL COLOR IMAGERY BASED ON BAYESIAN THEORY FOR URBAN AREA CLASSIFICATION

Directory of Open Access Journals (Sweden)

H. Rastiveis

2015-12-01

Full Text Available Airborne Light Detection and Ranging (LiDAR generates high-density 3D point clouds to provide a comprehensive information from object surfaces. Combining this data with aerial/satellite imagery is quite promising for improving land cover classification. In this study, fusion of LiDAR data and aerial imagery based on Bayesian theory in a three-level fusion algorithm is presented. In the first level, pixel-level fusion, the proper descriptors for both LiDAR and image data are extracted. In the next level of fusion, feature-level, using extracted features the area are classified into six classes of “Buildings”, “Trees”, “Asphalt Roads”, “Concrete roads”, “Grass” and “Cars” using Naïve Bayes classification algorithm. This classification is performed in three different strategies: (1 using merely LiDAR data, (2 using merely image data, and (3 using all extracted features from LiDAR and image. The results of three classifiers are integrated in the last phase, decision level fusion, based on Naïve Bayes algorithm. To evaluate the proposed algorithm, a high resolution color orthophoto and LiDAR data over the urban areas of Zeebruges, Belgium were applied. Obtained results from the decision level fusion phase revealed an improvement in overall accuracy and kappa coefficient.

Working memory capacity as controlled attention in tactical decision making.

Science.gov (United States)

Furley, Philip A; Memmert, Daniel

2012-06-01

The controlled attention theory of working memory capacity (WMC, Engle 2002) suggests that WMC represents a domain free limitation in the ability to control attention and is predictive of an individual's capability of staying focused, avoiding distraction and impulsive errors. In the present paper we test the predictive power of WMC in computer-based sport decision-making tasks. Experiment 1 demonstrated that high-WMC athletes were better able at focusing their attention on tactical decision making while blocking out irrelevant auditory distraction. Experiment 2 showed that high-WMC athletes were more successful at adapting their tactical decision making according to the situation instead of relying on prepotent inappropriate decisions. The present results provide additional but also unique support for the controlled attention theory of WMC by demonstrating that WMC is predictive of controlling attention in complex settings among different modalities and highlight the importance of working memory in tactical decision making.

Elapsed decision time affects the weighting of prior probability in a perceptual decision task

Science.gov (United States)

Hanks, Timothy D.; Mazurek, Mark E.; Kiani, Roozbeh; Hopp, Elizabeth; Shadlen, Michael N.

2012-01-01

Decisions are often based on a combination of new evidence with prior knowledge of the probable best choice. Optimal combination requires knowledge about the reliability of evidence, but in many realistic situations, this is unknown. Here we propose and test a novel theory: the brain exploits elapsed time during decision formation to combine sensory evidence with prior probability. Elapsed time is useful because (i) decisions that linger tend to arise from less reliable evidence, and (ii) the expected accuracy at a given decision time depends on the reliability of the evidence gathered up to that point. These regularities allow the brain to combine prior information with sensory evidence by weighting the latter in accordance with reliability. To test this theory, we manipulated the prior probability of the rewarded choice while subjects performed a reaction-time discrimination of motion direction using a range of stimulus reliabilities that varied from trial to trial. The theory explains the effect of prior probability on choice and reaction time over a wide range of stimulus strengths. We found that prior probability was incorporated into the decision process as a dynamic bias signal that increases as a function of decision time. This bias signal depends on the speed-accuracy setting of human subjects, and it is reflected in the firing rates of neurons in the lateral intraparietal cortex (LIP) of rhesus monkeys performing this task. PMID:21525274

Handbook on Decision Making Vol 2 Risk Management in Decision Making

CERN Document Server

Lu, Jie; Zhang, Guangquan

2012-01-01

This book presents innovative theories, methodologies, and techniques in the field of risk management and decision making. It introduces new research developments and provides a comprehensive image of their potential applications to readers interested in the area. The collection includes: computational intelligence applications in decision making, multi-criteria decision making under risk, risk modelling,forecasting and evaluation, public security and community safety, risk management in supply chain and other business decision making, political risk management and disaster response systems. The book is directed to academic and applied researchers working on risk management, decision making, and management information systems.

Electricity procurement for large consumers based on Information Gap Decision Theory

International Nuclear Information System (INIS)

Zare, Kazem; Moghaddam, Mohsen Parsa; Sheikh El Eslami, Mohammad Kazem

2010-01-01

In the competitive electricity market, consumers seek strategies to meet their electricity needs at minimum cost and risk. This paper provides a technique based on Information Gap Decision Theory (IGDT) to assess different procurement strategies for large consumers. Supply sources include bilateral contracts, a limited self-generating facility, and the pool. It is considered that the pool price is uncertain and its volatility around the estimated value is modeled using an IGDT model. The proposed method does not minimize the procurement cost but assesses the risk aversion or risk-taking nature of some procurement strategies with regard to the minimum cost. Using this method, the robustness of experiencing costs higher than the expected one is optimized and the related strategy is determined. The proposed method deals with optimizing the opportunities to take advantage of low procurement costs or low pool prices. A case study is used to illustrate the proposed technique.

Beyond expected utility: rethinking behavioral decision research.

Science.gov (United States)

Frisch, D; Clemen, R T

1994-07-01

Much research in psychology has evaluated the quality of people's decisions by comparisons with subjective expected utility (SEU) theory. This article suggests that typical arguments made for the status of utility theory as normative do not justify its use by psychologists as a standard by which to evaluate decision quality. It is argued that to evaluate decision quality, researchers need to identify those decision processes that tend to lead to desirable outcomes. It is contended that a good decision-making process must be concerned with how (and whether) decision makers evaluate potential consequences of decisions, the extent to which they accurately identify all relevant consequences, and the way in which they make final choices. Research that bears on these issues is reviewed.

A Decision Theory Approach to College Resource Allocation.

Science.gov (United States)

Baldwin, Charles W.

Current budgeting techniques are reviewed in relation to their application to higher education, including (1) incremental budgeting, where decisions are based primarily upon former levels of expenditures, (2) zero-based budgeting, involving the establishment and ranking of "decision packages", (3) Planning and Programming Budgeting…

Strategic-Decision Quality in Public Organizations: An Information Processing Perspective.

NARCIS (Netherlands)

B.R.J. George (Bert); S. Desmidt (Sebastian)

2016-01-01

textabstractThis study draws on information processing theory to investigate predictors of strategic-decision quality in public organizations. Information processing theory argues that (a) rational planning practices contribute to strategic-decision quality by injecting information into decision

Selecting decision strategies: the differential role of affect.

Science.gov (United States)

Scheibehenne, Benjamin; von Helversen, Bettina

2015-01-01

Many theories on cognition assume that people adapt their decision strategies depending on the situation they face. To test if and how affect guides the selection of decision strategies, we conducted an online study (N = 166), where different mood states were induced through video clips. Results indicate that mood influenced the use of decision strategies. Negative mood, in particular anger, facilitated the use of non-compensatory strategies, whereas positive mood promoted compensatory decision rules. These results are in line with the idea that positive mood broadens the focus of attention and thus increases the use of compensatory decision strategies that take many pieces of information into account, whereas negative mood narrows the focus of attention and thus fosters non-compensatory strategies that rely on a selective use of information. The results further indicate that gaining a deeper theoretical understanding of the cognitive mechanisms that govern decision processes requires taking emotions into account.

Insights from quantum cognitive models for organizational decision making

OpenAIRE

White, L.C.; Pothos, E. M.; Busemeyer, J. R.

2015-01-01

Organizational decision making is often explored with theories from the heuristics and biases research program, which have demonstrated great value as descriptions of how people in organizations make decisions. Nevertheless, rational analysis and classical probability theory are still seen by many as the best accounts of how decisions should be made and classical probability theory is the preferred framework for cognitive modelling for many researchers. The focus of this work is quantum proba...

Viewpoint: Decision-making in committees

OpenAIRE

Li Hao; Wing Suen

2009-01-01

This article reviews recent developments in the theory of committee decision-making. A committee consists of self-interested members who make a public decision by aggregating imperfect information dispersed among them according to a pre-specified decision rule. We focus on costly information acquisition, strategic information aggregation, and rules and processes that enhance the quality of the committee decision. Seeming inefficiencies of the committee decision-making process such as over-cau...

New results in topological field theory and Abelian gauge theory

International Nuclear Information System (INIS)

Thompson, G.

1995-10-01

These are the lecture notes of a set of lectures delivered at the 1995 Trieste summer school in June. I review some recent work on duality in four dimensional Maxwell theory on arbitrary four manifolds, as well as a new set of topological invariants known as the Seiberg-Witten invariants. Much of the necessary background material is given, including a crash course in topological field theory, cohomology of manifolds, topological gauge theory and the rudiments of four manifold theory. My main hope is to wet the readers appetite, so that he or she will wish to read the original works and perhaps to enter this field. (author). 41 refs, 5 figs

New results in topological field theory and Abelian gauge theory

Energy Technology Data Exchange (ETDEWEB)

Thompson, G

1995-10-01

These are the lecture notes of a set of lectures delivered at the 1995 Trieste summer school in June. I review some recent work on duality in four dimensional Maxwell theory on arbitrary four manifolds, as well as a new set of topological invariants known as the Seiberg-Witten invariants. Much of the necessary background material is given, including a crash course in topological field theory, cohomology of manifolds, topological gauge theory and the rudiments of four manifold theory. My main hope is to wet the readers appetite, so that he or she will wish to read the original works and perhaps to enter this field. (author). 41 refs, 5 figs.

Information processing by networks of quantum decision makers

Science.gov (United States)

Yukalov, V. I.; Yukalova, E. P.; Sornette, D.

2018-02-01

We suggest a model of a multi-agent society of decision makers taking decisions being based on two criteria, one is the utility of the prospects and the other is the attractiveness of the considered prospects. The model is the generalization of quantum decision theory, developed earlier for single decision makers realizing one-step decisions, in two principal aspects. First, several decision makers are considered simultaneously, who interact with each other through information exchange. Second, a multistep procedure is treated, when the agents exchange information many times. Several decision makers exchanging information and forming their judgment, using quantum rules, form a kind of a quantum information network, where collective decisions develop in time as a result of information exchange. In addition to characterizing collective decisions that arise in human societies, such networks can describe dynamical processes occurring in artificial quantum intelligence composed of several parts or in a cluster of quantum computers. The practical usage of the theory is illustrated on the dynamic disjunction effect for which three quantitative predictions are made: (i) the probabilistic behavior of decision makers at the initial stage of the process is described; (ii) the decrease of the difference between the initial prospect probabilities and the related utility factors is proved; (iii) the existence of a common consensus after multiple exchange of information is predicted. The predicted numerical values are in very good agreement with empirical data.

Application of Grey Theory in Operator Management

International Nuclear Information System (INIS)

Xu, Hong

2011-01-01

Scientific and reasonable operator management is the basis of nuclear security. It was paid more attention after the three-mile island accident. The prediction of operators' basic behavior parameters is the premise and foundation of scientific and reasonable operator management. Grey theory happens to solve the dilemma encountered in prediction and decision-making of operator behavior in operator management of NPP. The procedure is divided into two steps: according to the history record of operators' behavior parameter, a differential equation model using grey theory is set up to predict the future behavior of operators and use grey theory to make decision for operator management. The calculation result is helpful for operator management and also useful for operators to find their shortcoming. Grey theory using in the study provides a new idea and method for future operator management in NPP

“UTILIZING” SIGNAL DETECTION THEORY

Science.gov (United States)

Lynn, Spencer K.; Barrett, Lisa Feldman

2014-01-01

What do inferring what a person is thinking or feeling, deciding to report a symptom to your doctor, judging a defendant’s guilt, and navigating a dimly lit room have in common? They involve perceptual uncertainty (e.g., a scowling face might indicate anger or concentration, which engender different appropriate responses), and behavioral risk (e.g., a cost to making the wrong response). Signal detection theory describes these types of decisions. In this tutorial we show how, by incorporating the economic concept of utility, signal detection theory serves as a model of optimal decision making, beyond its common use as an analytic method. This utility approach to signal detection theory highlights potentially enigmatic influences of perceptual uncertainty on measures of decision-making performance (accuracy and optimality) and on behavior (a functional relationship between bias and sensitivity). A “utilized” signal detection theory offers the possibility of expanding the phenomena that can be understood within a decision-making framework. PMID:25097061

Navigating the grounded theory terrain. Part 1.

Science.gov (United States)

Hunter, Andrew; Murphy, Kathy; Grealish, Annmarie; Casey, Dympna; Keady, John

2011-01-01

The decision to use grounded theory is not an easy one and this article aims to illustrate and explore the methodological complexity and decision-making process. It explores the decision making of one researcher in the first two years of a grounded theory PhD study looking at the psychosocial training needs of nurses and healthcare assistants working with people with dementia in residential care. It aims to map out three different approaches to grounded theory: classic, Straussian and constructivist. In nursing research, grounded theory is often referred to but it is not always well understood. This confusion is due in part to the history of grounded theory methodology, which is one of development and divergent approaches. Common elements across grounded theory approaches are briefly outlined, along with the key differences of the divergent approaches. Methodological literature pertaining to the three chosen grounded theory approaches is considered and presented to illustrate the options and support the choice made. The process of deciding on classical grounded theory as the version best suited to this research is presented. The methodological and personal factors that directed the decision are outlined. The relative strengths of Straussian and constructivist grounded theories are reviewed. All three grounded theory approaches considered offer the researcher a structured, rigorous methodology, but researchers need to understand their choices and make those choices based on a range of methodological and personal factors. In the second article, the final methodological decision will be outlined and its research application described.

Bounded Rationality and Satisficing in Young People's Web-Based Decision Making.

Science.gov (United States)

Agosto, Denise E.

2002-01-01

Investigated behavioral decision-making theories of bounded rationality and satisficing in relation to young people's decision making in the World Wide Web and considered the role of personal preferences. Results of this study of ninth- and tenth-grade females consider time constraints, information overload, physical constraints, reduction…

Constructing food choice decisions.

Science.gov (United States)

Sobal, Jeffery; Bisogni, Carole A

2009-12-01

Food choice decisions are frequent, multifaceted, situational, dynamic, and complex and lead to food behaviors where people acquire, prepare, serve, give away, store, eat, and clean up. Many disciplines and fields examine decision making. Several classes of theories are applicable to food decision making, including social behavior, social facts, and social definition perspectives. Each offers some insights but also makes limiting assumptions that prevent fully explaining food choice decisions. We used constructionist social definition perspectives to inductively develop a food choice process model that organizes a broad scope of factors and dynamics involved in food behaviors. This food choice process model includes (1) life course events and experiences that establish a food choice trajectory through transitions, turning points, timing, and contexts; (2) influences on food choices that include cultural ideals, personal factors, resources, social factors, and present contexts; and (3) a personal system that develops food choice values, negotiates and balances values, classifies foods and situations, and forms/revises food choice strategies, scripts, and routines. The parts of the model dynamically interact to make food choice decisions leading to food behaviors. No single theory can fully explain decision making in food behavior. Multiple perspectives are needed, including constructionist thinking.

Phenomenological theory of collective decision-making

DEFF Research Database (Denmark)

Zafeiris, Anna; Koman, Zsombor; Mones, Enys

2017-01-01

An essential task of groups is to provide efficient solutions for the complex problems they face. Indeed, considerable efforts have been devoted to the question of collective decision-making related to problems involving a single dominant feature. Here we introduce a quantitative formalism...... for finding the optimal distribution of the group members’ competences in the more typical case when the underlying problem is complex, i.e., multidimensional. Thus, we consider teams that are aiming at obtaining the best possible answer to a problem having a number of independent sub-problems. Our approach...... is based on a generic scheme for the process of evaluating the proposed solutions (i.e., negotiation). We demonstrate that the best performing groups have at least one specialist for each sub-problem — but a far less intuitive result is that finding the optimal solution by the interacting group members...

The Khachaturyan theory of elastic inclusions: Recollections and results

Science.gov (United States)

Morris, J. W.

2010-01-01

In keeping with the assignment, this paper has two parts. The first is a personal recollection of my interactions with Professor Armen Khachaturyan since he first visited Berkeley in the 1970s. The second part is a review of the Khachaturyan formulation of the theory of elastic inclusions, with emphasis on results found since his classic monograph on the Theory of Structural Transformations in Solids [Wiley, New York, 1983]. The focus here is on the shapes and habits of coherent inclusions. The basic theory is presented, briefly, to exhibit Khachaturyan's results for the strain and energy within a coherent inclusion and show that the elastic energy is minimal for a thin-plate morphology with a definite habit. The preferred habit of the thin-plate inclusion is then discussed and computed for inclusions with dyadic strain (including the dislocation loop) and coherent inclusions with orthorhombic or simpler symmetry. This is followed by a discussion of the evolution of precipitate shape during coarsening, including the theory of the spontaneous splitting of coarsening precipitates and the development of octahedral or tetrahedral shapes.

Electricity procurement for large consumers based on Information Gap Decision Theory

Energy Technology Data Exchange (ETDEWEB)

Zare, Kazem; Moghaddam, Mohsen Parsa; Sheikh El Eslami, Mohammad Kazem [Tarbiat Modares University, P.O. Box 14115-111, Tehran (Iran)

2010-01-15

In the competitive electricity market, consumers seek strategies to meet their electricity needs at minimum cost and risk. This paper provides a technique based on Information Gap Decision Theory (IGDT) to assess different procurement strategies for large consumers. Supply sources include bilateral contracts, a limited self-generating facility, and the pool. It is considered that the pool price is uncertain and its volatility around the estimated value is modeled using an IGDT model. The proposed method does not minimize the procurement cost but assesses the risk aversion or risk-taking nature of some procurement strategies with regard to the minimum cost. Using this method, the robustness of experiencing costs higher than the expected one is optimized and the related strategy is determined. The proposed method deals with optimizing the opportunities to take advantage of low procurement costs or low pool prices. A case study is used to illustrate the proposed technique. (author)

Thinking about acting logical foundations for rational decision making

CERN Document Server

Pollock, John L

2006-01-01

John Pollock aims to construct a theory of rational decision making for real agents--not ideal agents. Real agents have limited cognitive powers, but traditional theories of rationality have applied only to idealized agents that lack such constraints. Pollock argues that theories of ideal rationality are largely irrelevant to the decision making of real agents. Thinking about Acting aims to provide a theory of ""real rationality.""

Economics and psychology. The framing of decisions

OpenAIRE

Schilirò, Daniele

2016-01-01

In the Theory of Rational Decision Making the psychological aspects are set aside. This contribution seeks to point out the relevance of psychology into economic decisions. The essay treats the "framing of decisions", which is a pillar of Kahneman's behavioral theory. Framing must be considered a special case of the more general phenomenon of dependency from the representation. The best-known risky choice-framing problem, i.e. the "Asian Disease Problem", is shown where an essential aspect of...

Is There a Conjunction Fallacy in Legal Probabilistic Decision Making?

Directory of Open Access Journals (Sweden)

Bartosz W. Wojciechowski

2018-04-01

Full Text Available Classical probability theory (CPT has represented the rational standard for decision making in human cognition. Even though CPT has provided many descriptively excellent decision models, there have also been some empirical results persistently problematic for CPT accounts. The tension between the normative prescription of CPT and human behavior is particularly acute in cases where we have higher expectations for rational decisions. One such case concerns legal decision making from legal experts, such as attorneys and prosecutors and, more so, judges. In the present research we explore one of the most influential CPT decision fallacies, the conjunction fallacy (CF, in a legal decision making task, involving assessing evidence that the same suspect had committed two separate crimes. The information for the two crimes was presented consecutively. Each participant was asked to provide individual ratings for the two crimes in some cases and conjunctive probability rating for both crimes in other cases, after all information had been presented. Overall, 360 probability ratings for guilt were collected from 120 participants, comprised of 40 judges, 40 attorneys and prosecutors, and 40 individuals without legal education. Our results provide evidence for a double conjunction fallacy (in this case, a higher probability of committing both crimes than the probability of committing either crime individually, in the group of individuals without legal education. These results are discussed in terms of their applied implications and in relation to a recent framework for understanding such results, quantum probability theory (QPT.

Is There a Conjunction Fallacy in Legal Probabilistic Decision Making?

Science.gov (United States)

Wojciechowski, Bartosz W; Pothos, Emmanuel M

2018-01-01

Classical probability theory (CPT) has represented the rational standard for decision making in human cognition. Even though CPT has provided many descriptively excellent decision models, there have also been some empirical results persistently problematic for CPT accounts. The tension between the normative prescription of CPT and human behavior is particularly acute in cases where we have higher expectations for rational decisions. One such case concerns legal decision making from legal experts, such as attorneys and prosecutors and, more so, judges. In the present research we explore one of the most influential CPT decision fallacies, the conjunction fallacy (CF), in a legal decision making task, involving assessing evidence that the same suspect had committed two separate crimes. The information for the two crimes was presented consecutively. Each participant was asked to provide individual ratings for the two crimes in some cases and conjunctive probability rating for both crimes in other cases, after all information had been presented. Overall, 360 probability ratings for guilt were collected from 120 participants, comprised of 40 judges, 40 attorneys and prosecutors, and 40 individuals without legal education. Our results provide evidence for a double conjunction fallacy (in this case, a higher probability of committing both crimes than the probability of committing either crime individually), in the group of individuals without legal education. These results are discussed in terms of their applied implications and in relation to a recent framework for understanding such results, quantum probability theory (QPT).

Nash Equilibria in Theory of Reasoned Action

Science.gov (United States)

Almeida, Leando; Cruz, José; Ferreira, Helena; Pinto, Alberto Adrego

2009-08-01

Game theory and Decision Theory have been applied to many different areas such as Physics, Economics, Biology, etc. In its application to Psychology, we introduce, in the literature, a Game Theoretical Model of Planned Behavior or Reasoned Action by establishing an analogy between two specific theories. In this study we take in account that individual decision-making is an outcome of a process where group decisions can determine individual probabilistic behavior. Using Game Theory concepts, we describe how intentions can be transformed in behavior and according to the Nash Equilibrium, this process will correspond to the best individual decision/response taking in account the collective response. This analysis can be extended to several examples based in the Game Theoretical Model of Planned Behavior or Reasoned Action.

Game theory in philosophy

NARCIS (Netherlands)

de Bruin, B.P.

2005-01-01

Game theory is the mathematical study of strategy and conflict. It has wide applications in economics, political science, sociology, and, to some extent, in philosophy. Where rational choice theory or decision theory is concerned with individual agents facing games against nature, game theory deals

Surrogate decision making and intellectual virtue.

Science.gov (United States)

Bock, Gregory L

2014-01-01

Patients can be harmed by a religiously motivated surrogate decision maker whose decisions are contrary to the standard of care; therefore, surrogate decision making should be held to a high standard. Stewart Eskew and Christopher Meyers proposed a two-part rule for deciding which religiously based decisions to honor: (1) a secular reason condition and (2) a rationality condition. The second condition is based on a coherence theory of rationality, which they claim is accessible, generous, and culturally sensitive. In this article, I will propose strengthening the rationality condition by grounding it in a theory of intellectual virtue, which is both rigorous and culturally sensitive. Copyright 2014 The Journal of Clinical Ethics. All rights reserved.

Decision-making in palliative care: a reflective case study.

Science.gov (United States)

Birchall, Melissa

2005-01-01

Critical examination of the processes by which we as nurses judge and reach clinical decisions is important. It facilitates the maintenance and refinement of good standards of nursing care and the pinpointing of areas where improvement is needed. In turn this potentially could support broader validation of nurse expertise and contribute to emancipation of the nursing profession. As pure theory, clinical decision-making may appear abstract and alien to nurses struggling in 'the swampy lowlands' (Schon 1983) of the realities of practice. This paper explores some of the key concepts in decision-making theory by introducing, then integrating, them in a reflective case study. The case study, which examines a 'snapshot' of the patient and practitioner's journey, interwoven with theory surrounding clinical decision-making, may aid understanding and utility of concepts and theories in practice.

A Monte-Carlo game theoretic approach for Multi-Criteria Decision Making under uncertainty

Science.gov (United States)

Madani, Kaveh; Lund, Jay R.

2011-05-01

Game theory provides a useful framework for studying Multi-Criteria Decision Making problems. This paper suggests modeling Multi-Criteria Decision Making problems as strategic games and solving them using non-cooperative game theory concepts. The suggested method can be used to prescribe non-dominated solutions and also can be used as a method to predict the outcome of a decision making problem. Non-cooperative stability definitions for solving the games allow consideration of non-cooperative behaviors, often neglected by other methods which assume perfect cooperation among decision makers. To deal with the uncertainty in input variables a Monte-Carlo Game Theory (MCGT) approach is suggested which maps the stochastic problem into many deterministic strategic games. The games are solved using non-cooperative stability definitions and the results include possible effects of uncertainty in input variables on outcomes. The method can handle multi-criteria multi-decision-maker problems with uncertainty. The suggested method does not require criteria weighting, developing a compound decision objective, and accurate quantitative (cardinal) information as it simplifies the decision analysis by solving problems based on qualitative (ordinal) information, reducing the computational burden substantially. The MCGT method is applied to analyze California's Sacramento-San Joaquin Delta problem. The suggested method provides insights, identifies non-dominated alternatives, and predicts likely decision outcomes.

Evolutionary quantum game theory in the context of socio-economic systems

International Nuclear Information System (INIS)

Hanauske, Matthias

2011-01-01

The evolution of socio-economic systems depend on the interdependent decision processes of its underlying system components. The mathematical model to describe the strategic decision of players within a socio-economic game is ''game theory''. ''Quantum game theory'' is a mathematical and conceptual amplification of classical game theory. The space of all conceivable decision paths is extended from the purely rational, measurable space in the Hilbert-space of complex numbers - which is the mathematical space where quantum theory is formulated. By the concept of a potential entanglement of the imaginary quantum strategy parts, it is possible to include cooperate decision path, caused by cultural or moral standards. If this strategy entanglement is large enough, then additional Nash equilibria can occur, previously present dominant strategies could become nonexistent and new evolutionary stable strategies do appear for some game classes. Within this PhD thesis the main results of classical and quantum games are summarized and all of the possible game classes of evolutionary (2 player)-(2 strategy) games are extended to quantum games. It is shown that the quantum extension of classical games with an underlying dilemma-like structure give different results, if the strength of strategic entanglement is above a certain barrier. After the German summary and the introduction paper, five different applications of the theory are discussed within the thesis. (orig.)

Decision-making under great uncertainty

International Nuclear Information System (INIS)

Hansson, S.O.

1992-01-01

Five types of decision-uncertainty are distinguished: uncertainty of consequences, of values, of demarcation, of reliance, and of co-ordination. Strategies are proposed for each type of uncertainty. The general conclusion is that it is meaningful for decision theory to treat cases with greater uncertainty than the textbook case of 'decision-making under uncertainty'. (au)

Application of grey theory in operator management

International Nuclear Information System (INIS)

Xu Hong

2013-01-01

Scientific and reasonable operator management is the basis of nuclear safety. It is paid more attention after the three-mile island accident. The prediction of operators' basic behavior parameters is the premise and foundation of scientific and reasonable operator management. Grey theory happened to solve the dilemma encountered in prediction and decision-making of operator behavior in operator management of nuclear power plant. The procedure was divided into two steps: 1) According to the historical record of operators' behavior parameters, a differential equation model using grey theory was set up to predict the future behavior of operators; 2) operator management decision-making was made based on grey theory. The calculation result is not only helpful for operator management but also useful for operators to find their shortcomings. Grey theory used in the study provides a new idea and method for future operator management in nuclear power plant. (author)

Aristotle and the Theory of Decision (Prohairesis

Directory of Open Access Journals (Sweden)

Leila Shirkhan

2017-07-01

Full Text Available The term of prohairesis was systematically entered in philosophical debates by Aristotle. This concept is generally translated as intention, will, purpose, choice, purposive choice, rational choice, and deliberative choice that the later seems to be Aristotle’s definition of prohairesis. To understand the internal structure of prohairesiss, we have to understand the conceptions of action, intention, belief, whish, will, and virtues. For Aristotle if an action will be done through a decision, this action is voluntary, but its contrary is not credible. He believes that the children and animals act voluntarily, but they have not any decision, because they have not any deliberation.

Individual decision making, group decision making and deliberation

Directory of Open Access Journals (Sweden)

Radovanović Bojana

2012-01-01

Full Text Available Each of us makes a number of decisions, from the less important to those with far-reaching consequences. As members of different groups, we are also actors of group decision making. In order to make a rational decision, a choice-making procedure must satisfy a number of assumptions (conditions of rationality. In addition, when it comes to group decisions, those procedures should also be “fair.” However, it is not possible to define a procedure of choice-making that would transform individual orders of alternatives based on preferences of perfectly rational individuals into a single social order and still meet conditions of rationality and ethics. The theory of deliberative democracy appeared in response to the impossibility of Social Choice theory. The basic assumption of deliberative democracy is that individuals adjust their preferences taking into account interests of the community. They are open for discussion with other group members and are willing to change their attitudes in order to achieve common interests. Ideally, group members come to an agreement during public discussion (deliberation. Still, this concept cannot completely over­come all the difficulties posed by the theory of social choice. Specifically, there is no solution for strategic and manipulative behavior of individuals. Also, the concept of deliberative democracy faces certain problems particular to this approach, such as, to name but a few, problems with the establishment of equality of participants in the debate and their motivation, as well as problems with the organization of public hearings. [Projekat Ministarstva nauke Republike Srbije, br. 47009: Evropske integracije i društveno-ekonomske promene privrede Srbije na putu ka EU i br. 179015: Izazovi i perspektive strukturnih promena u Srbiji: Strateški pravci ekonomskog razvoja i usklađivanje sa zahtevima EU

Optimal soil venting design using Bayesian Decision analysis

OpenAIRE

Kaluarachchi, J. J.; Wijedasa, A. H.

1994-01-01

Remediation of hydrocarbon-contaminated sites can be costly and the design process becomes complex in the presence of parameter uncertainty. Classical decision theory related to remediation design requires the parameter uncertainties to be stipulated in terms of statistical estimates based on site observations. In the absence of detailed data on parameter uncertainty, classical decision theory provides little contribution in designing a risk-based optimal design strategy. Bayesian decision th...

What Is True Halving in the Payoff Matrix of Game Theory?

Science.gov (United States)

Ito, Hiromu; Katsumata, Yuki; Hasegawa, Eisuke; Yoshimura, Jin

2016-01-01

In game theory, there are two social interpretations of rewards (payoffs) for decision-making strategies: (1) the interpretation based on the utility criterion derived from expected utility theory and (2) the interpretation based on the quantitative criterion (amount of gain) derived from validity in the empirical context. A dynamic decision theory has recently been developed in which dynamic utility is a conditional (state) variable that is a function of the current wealth of a decision maker. We applied dynamic utility to the equal division in dove-dove contests in the hawk-dove game. Our results indicate that under the utility criterion, the half-share of utility becomes proportional to a player's current wealth. Our results are consistent with studies of the sense of fairness in animals, which indicate that the quantitative criterion has greater validity than the utility criterion. We also find that traditional analyses of repeated games must be reevaluated.

Attention and choice: a review on eye movements in decision making.

Science.gov (United States)

Orquin, Jacob L; Mueller Loose, Simone

2013-09-01

This paper reviews studies on eye movements in decision making, and compares their observations to theoretical predictions concerning the role of attention in decision making. Four decision theories are examined: rational models, bounded rationality, evidence accumulation, and parallel constraint satisfaction models. Although most theories were confirmed with regard to certain predictions, none of the theories adequately accounted for the role of attention during decision making. Several observations emerged concerning the drivers and down-stream effects of attention on choice, suggesting that attention processes plays an active role in constructing decisions. So far, decision theories have largely ignored the constructive role of attention by assuming that it is entirely determined by heuristics, or that it consists of stochastic information sampling. The empirical observations reveal that these assumptions are implausible, and that more accurate assumptions could have been made based on prior attention and eye movement research. Future decision making research would benefit from greater integration with attention research. Copyright © 2013 Elsevier B.V. All rights reserved.

Quantum probability and quantum decision-making.

Science.gov (United States)

Yukalov, V I; Sornette, D

2016-01-13

A rigorous general definition of quantum probability is given, which is valid not only for elementary events but also for composite events, for operationally testable measurements as well as for inconclusive measurements, and also for non-commuting observables in addition to commutative observables. Our proposed definition of quantum probability makes it possible to describe quantum measurements and quantum decision-making on the same common mathematical footing. Conditions are formulated for the case when quantum decision theory reduces to its classical counterpart and for the situation where the use of quantum decision theory is necessary. © 2015 The Author(s).

The predictive validity of prospect theory versus expected utility in health utility measurement.

Science.gov (United States)

Abellan-Perpiñan, Jose Maria; Bleichrodt, Han; Pinto-Prades, Jose Luis

2009-12-01

Most health care evaluations today still assume expected utility even though the descriptive deficiencies of expected utility are well known. Prospect theory is the dominant descriptive alternative for expected utility. This paper tests whether prospect theory leads to better health evaluations than expected utility. The approach is purely descriptive: we explore how simple measurements together with prospect theory and expected utility predict choices and rankings between more complex stimuli. For decisions involving risk prospect theory is significantly more consistent with rankings and choices than expected utility. This conclusion no longer holds when we use prospect theory utilities and expected utilities to predict intertemporal decisions. The latter finding cautions against the common assumption in health economics that health state utilities are transferable across decision contexts. Our results suggest that the standard gamble and algorithms based on, should not be used to value health.

New Paradoxes of Risky Decision Making

Science.gov (United States)

Birnbaum, Michael H.

2008-01-01

During the last 25 years, prospect theory and its successor, cumulative prospect theory, replaced expected utility as the dominant descriptive theories of risky decision making. Although these models account for the original Allais paradoxes, 11 new paradoxes show where prospect theories lead to self-contradiction or systematic false predictions.…

Optimal policy for value-based decision-making.

Science.gov (United States)

Tajima, Satohiro; Drugowitsch, Jan; Pouget, Alexandre

2016-08-18

For decades now, normative theories of perceptual decisions, and their implementation as drift diffusion models, have driven and significantly improved our understanding of human and animal behaviour and the underlying neural processes. While similar processes seem to govern value-based decisions, we still lack the theoretical understanding of why this ought to be the case. Here, we show that, similar to perceptual decisions, drift diffusion models implement the optimal strategy for value-based decisions. Such optimal decisions require the models' decision boundaries to collapse over time, and to depend on the a priori knowledge about reward contingencies. Diffusion models only implement the optimal strategy under specific task assumptions, and cease to be optimal once we start relaxing these assumptions, by, for example, using non-linear utility functions. Our findings thus provide the much-needed theory for value-based decisions, explain the apparent similarity to perceptual decisions, and predict conditions under which this similarity should break down.

Barriers and decisions when answering clinical questions at the point of care: a grounded theory study.

Science.gov (United States)

Cook, David A; Sorensen, Kristi J; Wilkinson, John M; Berger, Richard A

2013-11-25

Answering clinical questions affects patient-care decisions and is important to continuous professional development. The process of point-of-care learning is incompletely understood. To understand what barriers and enabling factors influence physician point-of-care learning and what decisions physicians face during this process. Focus groups with grounded theory analysis. Focus group discussions were transcribed and then analyzed using a constant comparative approach to identify barriers, enabling factors, and key decisions related to physician information-seeking activities. Academic medical center and outlying community sites. Purposive sample of 50 primary care and subspecialist internal medicine and family medicine physicians, interviewed in 11 focus groups. Insufficient time was the main barrier to point-of-care learning. Other barriers included the patient comorbidities and contexts, the volume of available information, not knowing which resource to search, doubt that the search would yield an answer, difficulty remembering questions for later study, and inconvenient access to computers. Key decisions were whether to search (reasons to search included infrequently seen conditions, practice updates, complex questions, and patient education), when to search (before, during, or after the clinical encounter), where to search (with the patient present or in a separate room), what type of resource to use (colleague or computer), what specific resource to use (influenced first by efficiency and second by credibility), and when to stop. Participants noted that key features of efficiency (completeness, brevity, and searchability) are often in conflict. Physicians perceive that insufficient time is the greatest barrier to point-of-care learning, and efficiency is the most important determinant in selecting an information source. Designing knowledge resources and systems to target key decisions may improve learning and patient care.

Goal-Directed Decision Making with Spiking Neurons.

Science.gov (United States)

Friedrich, Johannes; Lengyel, Máté

2016-02-03

Behavioral and neuroscientific data on reward-based decision making point to a fundamental distinction between habitual and goal-directed action selection. The formation of habits, which requires simple updating of cached values, has been studied in great detail, and the reward prediction error theory of dopamine function has enjoyed prominent success in accounting for its neural bases. In contrast, the neural circuit mechanisms of goal-directed decision making, requiring extended iterative computations to estimate values online, are still unknown. Here we present a spiking neural network that provably solves the difficult online value estimation problem underlying goal-directed decision making in a near-optimal way and reproduces behavioral as well as neurophysiological experimental data on tasks ranging from simple binary choice to sequential decision making. Our model uses local plasticity rules to learn the synaptic weights of a simple neural network to achieve optimal performance and solves one-step decision-making tasks, commonly considered in neuroeconomics, as well as more challenging sequential decision-making tasks within 1 s. These decision times, and their parametric dependence on task parameters, as well as the final choice probabilities match behavioral data, whereas the evolution of neural activities in the network closely mimics neural responses recorded in frontal cortices during the execution of such tasks. Our theory provides a principled framework to understand the neural underpinning of goal-directed decision making and makes novel predictions for sequential decision-making tasks with multiple rewards. Goal-directed actions requiring prospective planning pervade decision making, but their circuit-level mechanisms remain elusive. We show how a model circuit of biologically realistic spiking neurons can solve this computationally challenging problem in a novel way. The synaptic weights of our network can be learned using local plasticity rules

Dual processing model of medical decision-making.

Science.gov (United States)

Djulbegovic, Benjamin; Hozo, Iztok; Beckstead, Jason; Tsalatsanis, Athanasios; Pauker, Stephen G

2012-09-03

Dual processing theory of human cognition postulates that reasoning and decision-making can be described as a function of both an intuitive, experiential, affective system (system I) and/or an analytical, deliberative (system II) processing system. To date no formal descriptive model of medical decision-making based on dual processing theory has been developed. Here we postulate such a model and apply it to a common clinical situation: whether treatment should be administered to the patient who may or may not have a disease. We developed a mathematical model in which we linked a recently proposed descriptive psychological model of cognition with the threshold model of medical decision-making and show how this approach can be used to better understand decision-making at the bedside and explain the widespread variation in treatments observed in clinical practice. We show that physician's beliefs about whether to treat at higher (lower) probability levels compared to the prescriptive therapeutic thresholds obtained via system II processing is moderated by system I and the ratio of benefit and harms as evaluated by both system I and II. Under some conditions, the system I decision maker's threshold may dramatically drop below the expected utility threshold derived by system II. This can explain the overtreatment often seen in the contemporary practice. The opposite can also occur as in the situations where empirical evidence is considered unreliable, or when cognitive processes of decision-makers are biased through recent experience: the threshold will increase relative to the normative threshold value derived via system II using expected utility threshold. This inclination for the higher diagnostic certainty may, in turn, explain undertreatment that is also documented in the current medical practice. We have developed the first dual processing model of medical decision-making that has potential to enrich the current medical decision-making field, which is still to the

Human-Agent Decision-making: Combining Theory and Practice

Directory of Open Access Journals (Sweden)

Sarit Kraus

2016-06-01

Full Text Available Extensive work has been conducted both in game theory and logic to model strategic interaction. An important question is whether we can use these theories to design agents for interacting with people? On the one hand, they provide a formal design specification for agent strategies. On the other hand, people do not necessarily adhere to playing in accordance with these strategies, and their behavior is affected by a multitude of social and psychological factors. In this paper we will consider the question of whether strategies implied by theories of strategic behavior can be used by automated agents that interact proficiently with people. We will focus on automated agents that we built that need to interact with people in two negotiation settings: bargaining and deliberation. For bargaining we will study game-theory based equilibrium agents and for argumentation we will discuss logic-based argumentation theory. We will also consider security games and persuasion games and will discuss the benefits of using equilibrium based agents.

Risk Management and Insurance Decisions under Ambiguity

DEFF Research Database (Denmark)

Martínez-Correa, Jimmy

I study the impact of ambiguity on insurance decisions and the optimality of insurance contracts. My tractable approach allows me to study the interaction between risk and ambiguity attitudes. When insurance decisions are made independently of other assets, for a given increase in wealth, both risk...... portfolio theory that assumes Subjective Expected Utility theory; however, it provides hints to a possible solution of the under-diversification puzzle of households. I also identify conditions under which more risk or ambiguity aversion decreases the demand for coinsurance. Additionally, I show...... a counterexample to a classical result in insurance economics where an insurance contract with straight deductible is dominated by a coinsurance contract. Finally, I find that a modified Borch rule characterizes the optimal insurance contract with bilateral risk and ambiguity attitudes and heterogeneity in beliefs....

A state-of-the-art review of transportation systems evaluation techniques relevant to air transportation, volume 1. [urban planning and urban transportation using decision theory

Science.gov (United States)

Haefner, L. E.

1975-01-01

Mathematical and philosophical approaches are presented for evaluation and implementation of ground and air transportation systems. Basic decision processes are examined that are used for cost analyses and planning (i.e, statistical decision theory, linear and dynamic programming, optimization, game theory). The effects on the environment and the community that a transportation system may have are discussed and modelled. Algorithmic structures are examined and selected bibliographic annotations are included. Transportation dynamic models were developed. Citizen participation in transportation projects (i.e, in Maryland and Massachusetts) is discussed. The relevance of the modelling and evaluation approaches to air transportation (i.e, airport planning) is examined in a case study in St. Louis, Missouri.

Can quantum approaches benefit biology of decision making?

Science.gov (United States)

Takahashi, Taiki

2017-11-01

Human decision making has recently been focused in the emerging fields of quantum decision theory and neuroeconomics. The former discipline utilizes mathematical formulations developed in quantum theory, while the latter combines behavioral economics and neurobiology. In this paper, the author speculates on possible future directions unifying the two approaches, by contrasting the roles of quantum theory in the birth of molecular biology of the gene. Copyright © 2017 Elsevier Ltd. All rights reserved.

Conceptual and Empirical Approaches to Financial Decision-making by Older Adults: Results from a Financial Decision-making Rating Scale.

Science.gov (United States)

Lichtenberg, Peter A; Ocepek-Welikson, Katja; Ficker, Lisa J; Gross, Evan; Rahman-Filipiak, Analise; Teresi, Jeanne A

2018-01-01

The objectives of this study were threefold: (1) to empirically test the conceptual model proposed by the Lichtenberg Financial Decision-making Rating Scale (LFDRS); (2) to examine the psychometric properties of the LFDRS contextual factors in financial decision-making by investigating both the reliability and convergent validity of the subscales and total scale, and (3) extending previous work on the scale through the collection of normative data on financial decision-making. A convenience sample of 200 independent function and community dwelling older adults underwent cognitive and financial management testing and were interviewed using the LFDRS. Confirmatory factor analysis, internal consistency measures, and hierarchical regression were used in a sample of 200 community-dwelling older adults, all of whom were making or had recently made a significant financial decision. Results confirmed the scale's reliability and supported the conceptual model. Convergent validity analyses indicate that as hypothesized, cognition is a significant predictor of risk scores. Financial management scores, however, were not predictive of decision-making risk scores. The psychometric properties of the LFDRS support the scale's use as it was proposed. The LFDRS instructions and scale are provided for clinicians to use in financial capacity assessments.

The erroneous signals of detection theory.

Science.gov (United States)

Trimmer, Pete C; Ehlman, Sean M; McNamara, John M; Sih, Andrew

2017-10-25

Signal detection theory has influenced the behavioural sciences for over 50 years. The theory provides a simple equation that indicates numerous 'intuitive' results; e.g. prey should be more prone to take evasive action (in response to an ambiguous cue) if predators are more common. Here, we use analytical and computational models to show that, in numerous biological scenarios, the standard results of signal detection theory do not apply; more predators can result in prey being less responsive to such cues. The standard results need not apply when the probability of danger pertains not just to the present, but also to future decisions. We identify how responses to risk should depend on background mortality and autocorrelation, and that predictions in relation to animal welfare can also be reversed from the standard theory. © 2017 The Author(s).

Predicting mothers' decisions to introduce complementary feeding at 6 months. An investigation using an extended theory of planned behaviour.

Science.gov (United States)

Hamilton, Kyra; Daniels, Lynne; White, Katherine M; Murray, Nicole; Walsh, Anne

2011-06-01

In Australia and other developed countries there is poor adherence to guidelines recommending the introduction of complementary feeding to infants at 6 months of age. We aimed to investigate, via adopting a theory of planned behaviour framework and incorporating additional normative and demographic influences, mothers' complementary feeding intentions and behaviour. Participants were 375 primiparas who completed an initial questionnaire (infant age 13±3 weeks) that assessed the theory of planned behaviour constructs of attitude, subjective norm, and perceived behavioural control, as well as group norm and additional maternal and infant variables of mothers' age, education level, weight status perception, current maternal feeding practices, and infant birth weight. Approximately, 3 months after completion of the main questionnaire, mothers completed a follow-up questionnaire that assessed the age in months at which the infant was first introduced to solids. The theory of planned behaviour variables of attitude and subjective norm, along with group norm, predicted intentions, with intention, mothers' age (older more likely), and weight status perception (overweight less likely) predicting behaviour. Overall, the results highlight the importance of attitudes, normative influences, and individual characteristics in complementary feeding decision-making which should be considered when designing interventions aimed at improving adherence to current maternal feeding guidelines. Crown Copyright © 2011. Published by Elsevier Ltd. All rights reserved.

Should I go with my gut? Investigating the benefits of emotion-focused decision making.

Science.gov (United States)

Mikels, Joseph A; Maglio, Sam J; Reed, Andrew E; Kaplowitz, Lee J

2011-08-01

Deliberative decision strategies have historically been considered the surest path to sound decisions; however, recent evidence and theory suggest that affective strategies may be equally as effective. In four experiments we examined conditions under which affective versus deliberative decision strategies might result in higher decision quality. While consciously focusing on feelings versus details, participants made choices that varied in complexity, in extent of subsequent conscious deliberation allowed, and in domain. Results indicate that focusing on feelings versus details led to superior objective and subjective decision quality for complex decisions. However, when using a feeling-focused approach, subsequent deliberation after encoding resulted in reduced choice quality. These results suggest that affective decision strategies may be more effective relative to deliberative strategies for certain complex decisions. 2011 APA, all rights reserved

Operational readiness decisions at nuclear power plants. Which factors influence the decisions?; Driftklarhetsbeslut i kaernkraftanlaeggningar. Vilka faktorer paaverkar beslutsfattandet?

Energy Technology Data Exchange (ETDEWEB)

Kecklund, Lena; Petterson, Sara (MTO Psykologi, Stockholm (SE))

2007-11-15

The purpose of this project has been to propose a model for how operational readiness decisions are made and to identify important factors influencing these decisions. The project has also studied the support from the management system for decision making, and made a comparison to how decisions are made in practice. This is mainly an explorative study, but it also deals with relevant research and theories about decision making. The project consists of several parts. The first part is composed of descriptions of important notations and terms, and a summary of relevant research about decision making and its relation to the management system. The project proposes a model for the decision making process. The second part consists of analyses of reports from SKI about operational readiness decisions. The last part is a case study at a nuclear power plant. The case study describes the support from work method theories at the nuclear power plant to the decision maker. Decision makers with different roles in the safety management system were interviewed to give a description of the decision making process and of factors influencing the decisions made in practice. The case study also consists of an analysis of decisions in some real events at the nuclear power plant, as well as of making interviews in connection with these. To sum up, this report presents a model for the decision process and describes the work method theories that support the different parts in the process, how the different parts are applied in practice and circumstances that influence the decision process. The results of the project give an understanding for decision making in operational readiness decisions and the factors that influence the decision. The results are meant to be used as a basis for further studies in other nuclear power plants. The results indicate that the decision process is facilitated if there are clear criteria and work methods, if the work methods are well established and if the

What Is True Halving in the Payoff Matrix of Game Theory?

Directory of Open Access Journals (Sweden)

Hiromu Ito

Full Text Available In game theory, there are two social interpretations of rewards (payoffs for decision-making strategies: (1 the interpretation based on the utility criterion derived from expected utility theory and (2 the interpretation based on the quantitative criterion (amount of gain derived from validity in the empirical context. A dynamic decision theory has recently been developed in which dynamic utility is a conditional (state variable that is a function of the current wealth of a decision maker. We applied dynamic utility to the equal division in dove-dove contests in the hawk-dove game. Our results indicate that under the utility criterion, the half-share of utility becomes proportional to a player's current wealth. Our results are consistent with studies of the sense of fairness in animals, which indicate that the quantitative criterion has greater validity than the utility criterion. We also find that traditional analyses of repeated games must be reevaluated.

What Is True Halving in the Payoff Matrix of Game Theory?

Science.gov (United States)

Hasegawa, Eisuke; Yoshimura, Jin

2016-01-01

In game theory, there are two social interpretations of rewards (payoffs) for decision-making strategies: (1) the interpretation based on the utility criterion derived from expected utility theory and (2) the interpretation based on the quantitative criterion (amount of gain) derived from validity in the empirical context. A dynamic decision theory has recently been developed in which dynamic utility is a conditional (state) variable that is a function of the current wealth of a decision maker. We applied dynamic utility to the equal division in dove-dove contests in the hawk-dove game. Our results indicate that under the utility criterion, the half-share of utility becomes proportional to a player’s current wealth. Our results are consistent with studies of the sense of fairness in animals, which indicate that the quantitative criterion has greater validity than the utility criterion. We also find that traditional analyses of repeated games must be reevaluated. PMID:27487194

Nonperturbative Results for Yang-Mills Theories

DEFF Research Database (Denmark)

Sannino, Francesco; Schechter, Joseph

2010-01-01

Some non perturbative aspects of the pure SU(3) Yang-Mills theory are investigated assuming a specific form of the beta function, based on a recent modification by Ryttov and Sannino of the known one for supersymmetric gauge theories. The characteristic feature is a pole at a particular value....... Assuming the usual QCD value one finds it to be 1.67 GeV, which is in surprisingly good agreement with a quenched lattice calculation. A similar calculation is made for the supersymmetric Yang-Mills theory where the corresponding beta function is considered to be exact....

Explicating Individual Training Decisions

Science.gov (United States)

Walter, Marcel; Mueller, Normann

2015-01-01

In this paper, we explicate individual training decisions. For this purpose, we propose a framework based on instrumentality theory, a psychological theory of motivation that has frequently been applied to individual occupational behavior. To test this framework, we employ novel German individual data and estimate the effect of subjective expected…

Whole mind and shared mind in clinical decision-making.

Science.gov (United States)

Epstein, Ronald Mark

2013-02-01

To review the theory, research evidence and ethical implications regarding "whole mind" and "shared mind" in clinical practice in the context of chronic and serious illnesses. Selective critical review of the intersection of classical and naturalistic decision-making theories, cognitive neuroscience, communication research and ethics as they apply to decision-making and autonomy. Decision-making involves analytic thinking as well as affect and intuition ("whole mind") and sharing cognitive and affective schemas of two or more individuals ("shared mind"). Social relationships can help processing of complex information that otherwise would overwhelm individuals' cognitive capacities. Medical decision-making research, teaching and practice should consider both analytic and non-analytic cognitive processes. Further, research should consider that decisions emerge not only from the individual perspectives of patients, their families and clinicians, but also the perspectives that emerge from the interactions among them. Social interactions have the potential to enhance individual autonomy, as well as to promote relational autonomy based on shared frames of reference. Shared mind has the potential to result in wiser decisions, greater autonomy and self-determination; yet, clinicians and patients should be vigilant for the potential of hierarchical relationships to foster coercion or silencing of the patient's voice. Copyright © 2012 Elsevier Ireland Ltd. All rights reserved.

Multi-level decision making models, methods and applications

CERN Document Server

Zhang, Guangquan; Gao, Ya

2015-01-01

This monograph presents new developments in multi-level decision-making theory, technique and method in both modeling and solution issues. It especially presents how a decision support system can support managers in reaching a solution to a multi-level decision problem in practice. This monograph combines decision theories, methods, algorithms and applications effectively. It discusses in detail the models and solution algorithms of each issue of bi-level and tri-level decision-making, such as multi-leaders, multi-followers, multi-objectives, rule-set-based, and fuzzy parameters. Potential readers include organizational managers and practicing professionals, who can use the methods and software provided to solve their real decision problems; PhD students and researchers in the areas of bi-level and multi-level decision-making and decision support systems; students at an advanced undergraduate, master’s level in information systems, business administration, or the application of computer science.  

'My kidneys, my choice, decision aid': supporting shared decision making.

Science.gov (United States)

Fortnum, Debbie; Smolonogov, Tatiana; Walker, Rachael; Kairaitis, Luke; Pugh, Debbie

2015-06-01

For patients with chronic kidney disease (CKD) who are progressing to end-stage kidney disease (ESKD) a decision of whether to undertake dialysis or conservative care is a critical component of the patient journey. Shared decision making for complex decisions such as this could be enhanced by a decision aid, a practice which is well utilised in other disciplines but limited for nephrology. A multidisciplinary team in Australia and New Zealand (ANZ) utilised current decision-making theory and best practice to develop the 'My Kidneys, My Choice', a decision aid for the treatment of kidney disease. A patient-centred, five-sectioned tool is now complete and freely available to all ANZ units to support the ESKD education and shared decision-making process. Distribution and education have occurred across ANZ and evaluation of the decision aid in practice is in the first phase. Development of a new tool such as an ESKD decision aid requires vision, multidisciplinary input and ongoing implementation resources. This tool is being integrated into ANZ, ESKD education practice and is promoting the philosophy of shared decision making. © 2014 European Dialysis and Transplant Nurses Association/European Renal Care Association.

Hesitant fuzzy sets theory

CERN Document Server

Xu, Zeshui

2014-01-01

This book provides the readers with a thorough and systematic introduction to hesitant fuzzy theory. It presents the most recent research results and advanced methods in the field. These includes: hesitant fuzzy aggregation techniques, hesitant fuzzy preference relations, hesitant fuzzy measures, hesitant fuzzy clustering algorithms and hesitant fuzzy multi-attribute decision making methods. Since its introduction by Torra and Narukawa in 2009, hesitant fuzzy sets have become more and more popular and have been used for a wide range of applications, from decision-making problems to cluster analysis, from medical diagnosis to personnel appraisal and information retrieval. This book offers a comprehensive report on the state-of-the-art in hesitant fuzzy sets theory and applications, aiming at becoming a reference guide for both researchers and practitioners in the area of fuzzy mathematics and other applied research fields (e.g. operations research, information science, management science and engineering) chara...

A queueing model of pilot decision making in a multi-task flight management situation

Science.gov (United States)

Walden, R. S.; Rouse, W. B.

1977-01-01

Allocation of decision making responsibility between pilot and computer is considered and a flight management task, designed for the study of pilot-computer interaction, is discussed. A queueing theory model of pilot decision making in this multi-task, control and monitoring situation is presented. An experimental investigation of pilot decision making and the resulting model parameters are discussed.

40 CFR 761.298 - Decisions based on PCB concentration measurements resulting from sampling.

Science.gov (United States)

2010-07-01

... 40 Protection of Environment 30 2010-07-01 2010-07-01 false Decisions based on PCB concentration... Cleanup and On-Site Disposal of Bulk PCB Remediation Waste and Porous Surfaces in Accordance With § 761.61(a)(6) § 761.298 Decisions based on PCB concentration measurements resulting from sampling. (a) For...

On-line confidence monitoring during decision making.

Science.gov (United States)

Dotan, Dror; Meyniel, Florent; Dehaene, Stanislas

2018-02-01

Humans can readily assess their degree of confidence in their decisions. Two models of confidence computation have been proposed: post hoc computation using post-decision variables and heuristics, versus online computation using continuous assessment of evidence throughout the decision-making process. Here, we arbitrate between these theories by continuously monitoring finger movements during a manual sequential decision-making task. Analysis of finger kinematics indicated that subjects kept separate online records of evidence and confidence: finger deviation continuously reflected the ongoing accumulation of evidence, whereas finger speed continuously reflected the momentary degree of confidence. Furthermore, end-of-trial finger speed predicted the post-decisional subjective confidence rating. These data indicate that confidence is computed on-line, throughout the decision process. Speed-confidence correlations were previously interpreted as a post-decision heuristics, whereby slow decisions decrease subjective confidence, but our results suggest an adaptive mechanism that involves the opposite causality: by slowing down when unconfident, participants gain time to improve their decisions. Copyright © 2017 Elsevier B.V. All rights reserved.

Rigorous results in quantum theory of stimulated Raman scattering