This volume explores from multiple perspectives the subtle and interesting relationship between the theory of rational choice and Darwinian evolution. In rational choice theory, agents are assumed to make choices that maximize their utility; in evolution, natural selection 'chooses' between phenotypes according to the criterion of fitness maximization. So there is a parallel between utility in rational choice theory and fitness in Darwinian theory. This conceptual link between fitness and utility is mirrored by the interesting parallels (...) between formal models of evolution and rational choice. The essays in this volume, by leading philosophers, economists, biologists and psychologists, explore the connection between evolution and rational choice in a number of different contexts, including choice under uncertainty, strategic decision making and pro-social behaviour. They will be of interest to students and researchers in philosophy of science, evolutionary biology, economics and psychology. (shrink)

University psychology and sociology researchers rated the likelihood they would engage in misconduct as described in 9 research scenarios, while also making moral judgments and rating the likelihood of discovery and sanctions. Multiple regression revealed significant effects across various scenarios for moral judgment as well as shame and embarrassment on reducing misconduct. The effects on misconduct of the perceived probability of sanctions were conditioned on moral judgments in some scenarios. The results have implications for how universities address the prevention, (...) detection, and sanctioning of research misconduct. (shrink)

There is an enduring tension in thinking about the architecture of systems that select behaviours, including evolved organisms. One line of reasoning supports convergence in control systems and conversion of the values of all options into a common currency, in part because this seems the best or only way of trading off costs and benefits associated with outcomes of varying types. A competing consideration supports parallelism or other forms of fragmentation, because of inefficiencies associated with integration, and suspicion towards general-purpose (...) cognitive systems. In addition, recent neuroscience has given particular attention to the question of how partly independent ‘habit based’ and ‘planning based’ decision-systems might interact. The issues here are, at least in part, a special case of the more general integration versus parallelism tension. This tension provides a useful framework for thinking about the implementation of different kinds of sensitivity to risks of various types, the variety of mechanisms by means of which risk sensitivity might be modulated, and how risk might be traded off against other components of value or disincentive. I describe the tension, briefly survey some of the relevant empirical evidence, and conclude with tentative observations on the topic of risk. (shrink)

The essays in this volume consider the question of whether the self is a unity or whether it should be conceived without metaphor as divided - as a 'multiple self'. The issue is a central one for several disciplines. It bears directly on the account of rationality and the explanation of individual decision-making and behaviour. Is the hypothesis of a multiple self required to deal with the problems of self-deception and weakness of will; and can the conceptual (...) tools developed in the study of interpersonal conflict be applied to the analysis of intra-personal struggle? Most of the essays, by a number of leading philosophers, psychologists and economists, appear here for the first time. They bring out the interdisciplinary importance of the question, and will interest readers in all those areas. The volume will also usefully supplement The Foundations of Social Choice Theory, edited by Jon Elster and Aanund Hylland, which appears in the same series and is also concerned with the foundations of rationality. (shrink)

The essays in this volume consider the question of whether the self is a unity or whether it should be conceived without metaphor as divided - as a 'multiple self'. The issue is a central one for several disciplines. It bears directly on the account of rationality and the explanation of individual decision-making and behaviour. Is the hypothesis of a multiple self required to deal with the problems of self-deception and weakness of will; and can the conceptual (...) tools developed in the study of interpersonal conflict be applied to the analysis of intra-personal struggle? Most of the essays, by a number of leading philosophers, psychologists and economists, appear here for the first time. They bring out the interdisciplinary importance of the question, and will interest readers in all those areas. The volume will also usefully supplement The Foundations of Social Choice Theory, edited by Jon Elster and Aanund Hylland, which appears in the same series and is also concerned with the foundations of rationality. (shrink)

Multiple moral emotions were examined from a dynamic motivational framework through two hypothetical dilemmas that originate from the cognitive-developmental research program in morality. A questionnaire based on recognition task measurement of moral motivation and emotions was administered to 546 college students. As part of the dynamic complexity of moral motivation, intrapersonal operation of multiple emotions were expected and found toward each emotion target in each judgment context. Compassion and distress were among the most important moral emotions. Relatively strong (...) degrees of anger and hate were reported toward the victimizers in ways that distinguished judgment choices. Participants distinguished a variety of positive emotions from anger and hate through differential associations with judgment choices. The study revealed orderly patterns of variability in the multiplicity of moral emotional experience based on relations with specific emotion targets, judgment choices, and developmental quality of moral motivation. The overall developmental quality of moral motivation was negatively associated with hate and positively associated with anger toward the victimizers. Emotional awareness was also found to be positively related to the developmental quality of moral motivation. Exploring the intrapersonal multiplicity of moral emotional experience has important implications for understanding the complexity of moral decision making and motivation. (shrink)

Many decisions involve multiple stages of choices and events, and these decisions can be represented graphically as decision trees. Optimal decision strategies for decision trees are commonly determined by a backward induction analysis that demands adherence to three fundamental consistency principles: dynamic, consequential, and strategic. Previous research found that decision-makers tend to exhibit violations of dynamic and strategic consistency at rates significantly higher than choice inconsistency across various levels of potential reward. The current research (...) extends these findings under new conditions; specifically, it explores the extent to which these principles are violated as a function of the planning horizon length of the decision tree. Results from two experiments suggest that dynamic inconsistency increases as tree length increases; these results are explained within a dynamic approach–avoidance framework. (shrink)

The options that people face are rarely ideal: they are good in some ways and poor in others. People have problems choosing among such options because they don’t know which ends to favor. Multiple objectives pose a problem not only for decision makers, but also for our account of decision making. People act to achieve their ends given their beliefs. In order to handle decisions with multiple objectives, however, this story must be supplemented by an account (...) of which ends are implicated in which decisions (e.g., do individual goals guide particular choices? do different ends jointly pick out courses of action?). Unfortunately, such an account is lacking. As a result, there is a gap (at least) in our most basic account of human behavior. In this paper I explore that gap and examine some proposals for closing it. (shrink)

Multiple-choice questions have an undeserved reputation for only being able to test student recall of basic facts. In fact, well-crafted mechanically gradable questions can measure very sophisticated cognitive skills, including those engaged at the highest level of Benjamin Bloom’s taxonomy of outcomes. In this article, I argue that multiple-choice questions should be a part of the diversified assessment portfolio for most philosophy courses. I present three arguments broadly related to fairness. First, multiple-choice questions allow (...) one to consolidate subjective decision making in a way that makes it easier to manage. Second, multiple-choice questions contribute to the diversity of an evaluation portfolio by balancing out problems with writing-based assessments. Third, by increasing the diversity of evaluations, multiple-choice questions increase the inclusiveness of the course. In the course of this argument I provide examples of multiple-choice questions that measure sophisticated learning and advice for how to write good multiple-choice questions. (shrink)

In this article, we illustrate experimentally an important consequence of the stochastic component in choice behaviour which has not been acknowledged so far. Namely, its potential to produce ‘regression to the mean’ (RTM) effects. We employ a novel approach to individual choice under risk, based on repeated multiple-lottery choices (i.e. choices among many lotteries), to show how the high degree of stochastic variability present in individual decisions can distort crucially certain results through RTM effects. We demonstrate the (...) point in the context of a social comparison experiment. (shrink)

Basing their claims on findings in the behavioral sciences that illuminate cognitive deficiencies, scholars spanning multiple disciplines argue that certain features of free market capitalist societies threaten human wellbeing, especially insofar as such societies are marked by a proliferation of consumer choices and incessant demands on decision making. This paper thus attempts three things. First, it outlines the criticisms of the expansive freedoms found in free market societies, based on those findings, in order to provide a reliable overview (...) of the shape of the critics’ concerns. Second, it surveys typical objections to these critics’ concerns, while also taking note of actual and anticipated counter-responses, in order to demonstrate why the debate about the value of those freedoms is not settled by those objections. Third, it argues that one objection remains that demands further debate and consideration before the critics’ choice restrictions should materialize. Namely, since there is solid evidence that entrepreneurship contributes to overall happy and healthy societies, and since the benefits of entrepreneurship are best realized in the types of societies marked by more expansive freedoms than the critics would countenance, the critics, who are concerned with general wellbeing, ought to consider the impact of their choice-restricting proposals on entrepreneurship. This paper does not claim that these critics offer baseless concerns about various threats to our wellbeing that arise from ample exercises of liberty, but it does argue that recognizing the role that entrepreneurship plays in fostering such wellbeing severely dampens the force of their implications for liberty. (shrink)

Discerning the motives that lead businesspeople to make ethical decisions in economic contexts is important, for it aids the moral evaluation of such decisions. But conventional economic theory has for too long assumed an egoist model of motivation, to which many contrast an altruist view of ethical choices. The result is to see business decision making as implying dilemmas. On the other hand, we argue, if one assumes multiple motives, economic and ethical, in ordinary business decisions, a more (...) fruitful model of ethical motivation in such decisions emerges. In this paper multiple motives are assumed to be the norm in a world of large organizations, complex decisions and stakeholder management. An example of a technology acquisition decision, with environmental overtones is presented in illustration of this approach. A method for discerning motives, primarily in terms of behavioural efficacy is presented. On this basis a two step approach to morally evaluating mixed motives in business decisions is proposed. First, the fit of motives with substantive ethical values should be ascertained, and then the efficacy of moral motives in yielding ethical behaviour and outcomes should be determined. This approach, we conclude, offers a much more concrete model of the actual role of moral motives in business decision making. It also signals the importance of moral learning in organizations. (shrink)

According to Chen's Linguistic Savings Hypothesis, our native language affects our economic behavior. We present three studies investigating how cross-linguistic differences in the grammaticalization of future-time reference affect intertemporal choices. In a series of decision scenarios about finance and health issues, we let speakers of altogether five languages that represent FTR with increasing strength, that is, Chinese, German, Danish, Spanish, and English, choose between hypothetical sooner-smaller and later-larger reward options. While the LSH predicts a present-bias that increases with (...) FTR-strength, our decision makers preferred later-larger options and this future-bias increased with FTR-strength. In multiple regressions, the FTR-strength effect persisted when controlled for socioeconomic and cultural differences. We discuss why our findings deviate from the LSH and ask in how far the FTR-strength effect represents a habitual constitution of linguistic relativity or an instance of online decision framing. (shrink)

This paper presents an integrative framework for analyzing decisions. Three generic modes of decision making are identified: consequential choice , matching and reassessment . The three generic modes are compared on a common set of attributes, and the conditions for their proper use are outlined. Two case analyses illustrate how the framework can be used to analyze specific decisions from multiple perspectives.

Strategic interactions have been studied extensively in the area of judgment and decision-making. However, so far no specific measure of a decision-maker's ability to be successful in strategic interactions has been proposed and tested. Our contribution is the development of a measure of strategic ability that borrows from both game theory and psychology. Such measure is aimed at providing an estimation of the likelihood of success in many social activities that involve strategic interaction among multiple decision-makers. (...) To construct a reliable measure of strategic ability, that we propose to call ``Strategic Quotient'' (SQ), we designed a test where each item is a game and where, therefore, the individual score obtained depends on the distribution of choices of other decision-makers taking the test. The test is designed to provide information on the abilities related to two dimensions, mentalization and rationality, that we argue are crucial to strategic success, with each dimension being characterized by two main factors. Principal component analysis on preliminary data shows that indeed four factors (two for rationality, two for mentalization) account for strategic success in most of the strategically simpler games of the test. Moreover, two more strategically sophisticated games are inserted in the test and are used to investigate if and to what extent the four factors obtained by simpler games can predict strategic success in more sophisticated strategic interactions. Overall, the collected empirical evidence points to the possibility of building a SQ measure using only simple games designed to capture information about the four identified factors. (shrink)

The multiobjective optimization on the basis of ratio analysis method captures diverse features such as the criteria and alternatives of appraising a multiple criteria decision-making problem. At the same time, the multiple criteria problem includes a set of decision makers with diverse expertise and preferences. In fact, the literature lists numerous approaches to aid in this problematic task of choosing the best alternative. Nevertheless, in the MCDM field, there is a challenge regarding intangible information which is (...) commonly involved in multiple criteria decision-making problem; hence, it is substantial in order to advance beyond the research related to this field. Thus, the objective of this paper is to present a fused method between multiobjective optimization on the basis of ratio analysis and Pythagorean fuzzy sets for the choice of an alternative. Besides, multiobjective optimization on the basis of ratio analysis is utilized to choose the best alternatives. Finally, two decision-making problems are applied to illustrate the feasibility and practicality of the proposed method. (shrink)

This book provides an overview of behavioral decision theory and related research findings. In brief, behavioral decision theory is a general term for descriptive theories to explain the psychological knowledge related to decision-making behavior. It is called a theory, but actually it is a combination of various psychological theories, for which no axiomatic systems, such as the utility theory widely used in economics, have been established; it is often limited to qualitative knowledge. However, as suggested in (...) the studies of H. A. Simon, who won the Nobel Prize for Economics in 1978, and D. Kahneman, who won the prize in 2002, the psychological methodology and knowledge of behavioral decision theory have been applied widely in such fields as economics, business administration, and engineering, and are expected to become more useful in the future. This book explains various behavioral decision theories related to decision-making processes. Numerous models have been proposed to explain the psychological processes related to such a selection of decision strategies, and this book also introduces some new models that are useful to explain decision-making processes. The book concludes with speculation about the future of modern behavioral decision theories while referring to their relation to fields associated with neuroscience, such as neuroeconomics, that have been developed in recent years. In addition, each chapter includes a bibliography that can be referred to when studying more details related to behavioral decision theory. Reading this book requires no advanced expertise; nonetheless, an introductory knowledge of psychology, business administration, and economics, and approximately a high school graduate’s level of mathematics should facilitate the reader’s comprehension of the content. (shrink)

When someone hosts a party, when governments choose an aid program, or when assistive robots decide what meal to serve to a family, decision‐makers must determine how to help even when their recipients have very different preferences. Which combination of people’s desires should a decision‐maker serve? To provide a potential answer, we turned to psychology: What do people think is best when multiple people have different utilities over options? We developed a quantitative model of what people consider (...) desirable behavior, characterizing participants’ preferences by inferring which combination of “metrics” (maximax, maxsum, maximin, or inequality aversion [IA]) best explained participants’ decisions in a drink‐choosing task. We found that participants’ behavior was best described by the maximin metric, describing the desire to maximize the happiness of the worst‐off person, though participant behavior was also consistent with maximizing group utility (the maxsum metric) and the IA metric to a lesser extent. Participant behavior was consistent across variation in the agents involved and tended to become more maxsum‐oriented when participants were told they were players in the task (Experiment 1). In later experiments, participants maintained maximin behavior across multi‐step tasks rather than shortsightedly focusing on the individual steps therein (Experiment 2, Experiment 3). By repeatedly asking participants what choices they would hope for in an optimal, just decision‐maker, and carefully disambiguating which quantitative metrics describe these nuanced choices, we help constrain the space of what behavior we desire in leaders, artificial intelligence systems helping decision‐makers, and the assistive robots and decision‐makers of the future. (shrink)

We investigate whether risky choice framing, i.e., the preference of a sure over an equivalent risky option when choosing among gains, and the reverse when choosing among losses, depends on redundancy and density of information available in a task. Redundancy, the saliency of missing information, and density, the description of options in one or multiple chunks, was manipulated in a matrix setup presented in MouselabWeb. On the choice level we found a framing effect only in setups with (...) non-redundant information. On the process level outcomes attracted more acquisitions than probabilities, irrespective of redundancy. A dissociation between acquisition behavior and choice calls for a critical discussion of the limits of process-tracing measures for understanding and predicting choices in decision making tasks. (shrink)

By focusing on the caloric composition of hunted prey species, optimal foraging research has shown that hunters usually make economically rational prey choice decisions. However, research by meat scientists suggests that the gustatory appeal of wildlife meats may vary dramatically. In this study, behavioral research indicates that Mayangna and Miskito hunters in Nicaragua inconsistently pursue multiple prey types in the optimal diet set. We use cognitive methods, including unconstrained pile sorts and cultural consensus analysis, to investigate the hypothesis (...) that these partial preferences are influenced by considerations of meat flavor. Native informants exhibit high agreement on the relative appeal of different meats. Given the absence of other noteworthy differences between spider monkeys (Ateles geoffroyi) and howler monkeys (Alouatta palliata), the unappealing flavor of howler monkeys seems to be a factor in the partial preference for this species. (shrink)

In the recent literature at the interface between economics, biology and neuroscience, several authors argue that by adopting an interdisciplinary approach to the analysis of decision making, economists will be able to construct predictively and explanatorily superior models. However, most economists remain quite reluctant to import biological or neural insights into their account of choice behaviour. In this paper, I reconstruct and critique one of the main arguments by means of which economists attempt to vindicate their conservative position. (...) Furthermore, I develop an alternative defense of the thesis that economists justifiably rely on a methodologically distinctive approach to the modelling of choice behaviour. (shrink)

This research examines the necessary condition of emotions in predicting consumer ethical decision-making, using a new multiplicative method for identifying and measuring the necessary condition in data sets—Necessary Condition Analysis (NCA). Based on a sample of over four hundred individuals, and combining three different consumption scenarios involving ethical issues, our findings demonstrate that emotions are a necessary condition for consumer ethical decisions and behaviours. In addition, the results show that higher levels of consumer ethical decisions can only be achieved (...) if happiness, gladness and satisfaction increase towards a minimum level of necessity. The findings provide empirical support for the essential role of emotions in predicting consumer ethical decision-making. Furthermore, this research identifies the emotional thresholds without which ethical choices cannot occur and then explains why individuals sometimes behave ethically but other times do not. In addition, this is a first contribution applying NCA to consumer ethics. (shrink)

The purpose of this study is to explore the influence of consumers’ choice deferral behavior on their intertemporal choice preference. The empirical study shows that consumers’ choice deferral behavior can significantly affect their intertemporal decision preference through the level of hopefulness. Compared with non-choice deferral behavior, choice deferral behavior can improve the level of consumers’ sense of hopefulness, which then makes them prefer larger-longer interests in intertemporal decision-making. The effect (...) of consumers’ sense of hopefulness on their intertemporal choice preference is moderated by their perceived information integrity. When the perceived information integrity is low, the effect of hopefulness on intertemporal decision preference will be enhanced, but when the perceived information integrity is high, the effect of hopefulness on intertemporal decision preference will not be affected. In addition, the theoretical and practical significance of this study and the prospect of future research are also discussed. (shrink)

The speed-accuracy trade-off effect refers to the behavioral trade-off between fast yet error-prone respones and accurate but slow responses. Multiple theories on the cognitive mechanisms behind SAT exist. One theory assumes that SAT is a consequence of strategically adjusting the amount of evidence required for overt behaviors, such as perceptual choices. Another theory hypothesizes that SAT is the consequence of the mixture of multiple categorically different cognitive processes. In this paper, these theories are disambiguated by assessing whether the (...) fixed-point property of mixture distributions holds, in both simulations and data. I conclude that, at least for perceptual decision making, there is no evidence for a mixture of different cognitive processes to trade off accuracy of responding for speed. (shrink)

The speed‐accuracy trade‐off (SAT) effect refers to the behavioral trade‐off between fast yet error‐prone respones and accurate but slow responses. Multiple theories on the cognitive mechanisms behind SAT exist. One theory assumes that SAT is a consequence of strategically adjusting the amount of evidence required for overt behaviors, such as perceptual choices. Another theory hypothesizes that SAT is the consequence of the mixture of multiple categorically different cognitive processes. In this paper, these theories are disambiguated by assessing whether (...) the fixed‐point property of mixture distributions holds, in both simulations and data. I conclude that, at least for perceptual decision making, there is no evidence for a mixture of different cognitive processes to trade off accuracy of responding for speed. (shrink)

Behavioural welfare economics has lately been challenged on account of its use of the satisfaction of true preferences as a normative criterion. The critique contests what is taken to be an implicit assumption in the literature, namely that true preferences are context-independent. This assumption is considered not only unjustified in the behavioural welfare economics literature but unjustifiable – true preferences are argued to be, at least sometimes, context-dependent. This article explores the implications of this ‘critique of the inner rational agent’. (...) I argue that the critique does not support a wholesale shift away from the use of true preferences as an evaluative standard in normative economics; instead, the critique implies that behavioural welfare economists need to inquire into and establish the ‘source’ of particular context-dependent choices in individuals’ decision-making. The source determines the permissibility of correcting individuals’ context-dependent choices and can, in some situations, support decisive welfare judgements. (shrink)

A decision maker (DM) selects a project from a set of alternatives with uncertain productivity. After the choice, she observes a signal about productivity and decides how much effort to put in. This paper analyzes the optimal decision problem of the DM who rationally filters information to deal with her post-decision cognitive dissonance. It is shown that the optimal effort level for a project can be affected by unchosen projects in her choice set, and the (...) nature of the choice set-dependence is determined by the signal structure. Some comparative statics of choice set-dependence is also provided. Finally, based on the results, the optimal choice set design is also explored. This paper offers a simple framework to explain the experimental finding in psychology that people’s effort level for a project can be enhanced when the project is chosen by themselves rather than by others. (shrink)

While Rational Choice Theory (RC) may be understood as a theory of choice, which does not necessarily reflect actual deliberative processes, rule-following behavior is definitely based on a certain form of delibera- tion. This article aims at clarifying the relationship between the two. Being guided by instrumental rules, i.e., rules reducible to the maximiza- tion principle, is perfectly consistent with the fundamental behavioral assumptions of RC. But human individuals use other forms of rules in decision making, (...) especially tie-breaking rules and coordination rules. It is argued that within RC no satisfying account of such rule-following behav- ior can be given. In particular it is impossible to determine suitable pref- erence orderings such that coordinating may be understood as maximizing relative to these orderings. Still, once there is coordination, following a coordination rule may be perfectly consistent with the basic assumptions of RC. So there might be a more complex theory of action that incorpo- rates RC as well as a satisfying theory of rule-guided behavior. (shrink)

The study of decision making has multiple implications for business ethics. This paper outlines some commonly used frameworks for understanding choice in business. It characterises the dominant model for business decision making as rational choice theory (RCT) and contrasts this with a more recent, naturalistic theory of decision-making, image theory. The implications of using RCT and image theory to model decision making are discussed with reference to three ethical systems. RCT is shown to (...) be consistent with Utilitarian ethics, but not with Kantian or Virtue-based ethics. Image theory is shown to be consistent with each. The paper identifies a number of implications following from this analysis. (shrink)

Background Nurses have an essential role in caring for end-of-life patients. Nevertheless, the nurse’s involvement in the passive euthanasia decision-making process is insufficient and lower than expected. Objectives To explore factors associated with nurses’ intention to be involved in non-treatment decisions (NTD) regarding passive euthanasia decision-making versus their involvement in the palliative care of patients requesting euthanasia, using the Theory of Planned Behavior (TPB) framework. Design A cross-sectional study utilizing a random sample. Participants and research context The (...) study was conducted in one of the largest hospitals in Israel among 125 nurses employed in internal and surgical care wards. Data was collected through face-to-face interviews between March and April 2019. Method A closed structured questionnaire was developed according to TPB instructions. A paired sample t test and two multiple hierarchical regressions were conducted. Variance explained (R2) and the significance of F change were calculated for each regression. The study used the STROBE statement guideline. Ethical considerations The study was approved by the hospital’s Helsinki Committee (#20.11.2017). Findings A paired sample t test revealed that nurses’ involvement in the palliative care of patients requesting passive euthanasia was significantly higher than in NTD regarding euthanasia. Regression analyses revealed that nurses’ position and attitudes explain their intention to be involved in decision-making; attitudes and perceived behavioral control explain nurses’ intention to be involved in the care of patients requesting euthanasia. Conclusions According to the TPB, nurses’ attitudes explained their intention to participate in decision-making regarding passive euthanasia. It is recommended to enhance open discussion of this complex issue to encourage nurses’ willingness to participate in NTD decision-making regarding euthanasia. (shrink)

Given the endowment effect, the role of attention in decision-making, and the framing effect, most behavioral economists agree that it would be a mistake to accept the satisfaction of revealed preferences as the normative criterion of choice. Some have suggested that what makes agents better off is not the satisfaction of revealed preferences, but ‘true’ preferences, which may not always be observed through choice. While such preferences may appear to be an improvement over revealed preferences, some philosophers (...) of economics have argued that they face insurmountable epistemological, normative, and methodological challenges. This article introduces a new kind of true preference – values-based preferences – that blunts these challenges. Agents express values-based preferences when they choose in a manner that is compatible with a consumption plan grounded in a value commitment that is normative, affective, and stable for the agent who has one. Agents who choose according to their plans are resolute choosers. My claim is that while values-based preferences do not apply to every choice situation, this kind of preference provides a rigorous way for thinking about classic choice situations that have long interested behavioral economists and philosophers of economics, such as ‘Joe-in-the-cafeteria.’. (shrink)

The New Economic Windows Series, derived from Massimo Salzano's ideas and work, incorporates material from textbooks, monographs and conference proceedings that deals with both the theoretical and applied aspects of various sub-disciplines ...

Psychologists have a long tradition of studying human behavior, strengths and weaknesses, biases and limitations. Economists have constructed normative frameworks that capture the most important elements of human decision-making and developed powerful tools to determine individual and strategic choices in a variety of situations. Only recently have their strengths been combined and economic models enriched with key ingredients found in psychological studies.This volume covers four of the most important themes in this interdisciplinary field: feelings, inconsistencies, limitations and biases. (...) Each chapter contributes to a more comprehensive and accurate modelling and description of human behavior. Its four parts cover: the origins, formation, and evolution of beliefs; consistency, commitment, and intertemporal separability of dynamic choices; attention, preference formation, and risk evaluation in limited cognition; and affective behaviour, specifically the role of emotions in decision making. (shrink)

Psychologists have a long tradition of studying human behavior, strengths and weaknesses, biases and limitations. Economists have constructed normative frameworks that capture the most important elements of human decision-making and developed powerful tools to determine individual and strategic choices in a variety of situations. Only recently have their strengths been combined and economic models enriched with key ingredients found in psychological studies.This volume covers four of the most important themes in this interdisciplinary field: feelings, inconsistencies, limitations and biases. (...) Each chapter contributes to a more comprehensive and accurate modelling and description of human behavior. Its four parts cover: the origins, formation, and evolution of beliefs; consistency, commitment, and intertemporal separability of dynamic choices; attention, preference formation, and risk evaluation in limited cognition; and affective behaviour, specifically the role of emotions in decision making. (shrink)

Richard Thaler and Cass Sunstein define a nudge as “any aspect of the choice architecture that alters people's behavior in a predictable way without forbidding any options or significantly changing their economic incentives.” Much has been written about the ethics of nudging competent adult patients. Less has been written about the ethics of nudging surrogates’ decision‐making and how the ethical considerations and arguments in that context might differ. Even less has been written about nudging surrogate decision‐making (...) in the context of pediatrics, despite fundamental differences that exist between the pediatric and adult contexts. Yet, as the field of behavioral economics matures and its insights become more established and well‐known, nudges will become more crafted, sophisticated, intentional, and targeted. Thus, the time is now for reflection and ethical analysis regarding the appropriateness of nudges in pediatrics. We argue that there is an even stronger ethical justification for nudging in parental decision‐making than with competent adult patients deciding for themselves. We give three main reasons in support of this: (1) child patients do not have autonomy that can be violated (a concern with some nudges), and nudging need not violate parental decision‐making authority; (2) nudging can help fulfill pediatric clinicians’ obligations to ensure parental decisions are in the child's interests, particularly in contexts where there is high certainty that a recommended intervention is low risk and of high benefit; and (3) nudging can relieve parents’ decisional burden regarding what is best for their child, particularly with decisions that have implications for public health. (shrink)

A working assumption that processes of natural and cultural evolution have tailored the mind to fit the demands and structure of its environment begs the question: how are we to characterize the structure of cognitive environments? Decision problems faced by real organisms are not like simple multiple-choice examination papers. For example, some individual problems may occur much more frequently than others, whilst some may carry much more weight than others. Such considerations are not taken into account when (...) (i) the performance of candidate cognitive mechanisms is assessed by employing a simple accuracy metric that is insensitive to the structure of the decision-maker's environment, and (ii) reason is defined as the adherence to internalist prescriptions of classical rationality. Here we explore the impact of frequency and significance structure on the performance of a range of candidate decision-making mechanisms. We show that the character of this impact is complex, since structured environments demand that decision-makers trade off general performance against performance on important subsets of test items. As a result, environment structure obviates internalist criteria of rationality. Failing to appreciate the role of environment structure in shaping cognition can lead to mischaracterising adaptive behavior as irrational. (shrink)

SC was an 80-year-old Israeli woman. She suffered from multiple chronic conditions, including heart disease, pulmonary congestion, chronic leukemia, diabetes, and high blood pressure. She received medication to treat her medical condition. Her pressing problems were shortness of breath and severe pain in her left leg, the result of poor blood circulation. SC resided in a rehabilitative nursing home in Tel Aviv. One night she could not sleep. She sat on her bed, unable to lie down, and screamed with (...) pain. A nurse came and gave her some analgesics with no relief of her pain. The following day the institution's social worker visited her. SC sat in the dining hall with her older sister CA. The social worker asked SC .. (shrink)