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  1. Behavioral Ethics and the Incidence of Foodborne Illness Outbreaks.Harvey S. James & Michelle S. Segovia - 2020 - Journal of Agricultural and Environmental Ethics 33 (3-6):531-548.
    Cognitive biases play an important role in creating and perpetuating problems that lead to foodborne illness outbreaks. By using insights from behavioral ethics, we argue that sometimes people engage in unethical behavior that increases the likelihood of foodborne illness outbreaks without necessarily intending to or being consciously aware of it. We demonstrate these insights in an analysis of the 2011 Listeriosis outbreak in the U.S. from the consumption of contaminated cantaloupes. We then provide policy implications that can improve our understanding (...)
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  • Unconscious Reward Cues Increase Invested Effort, but Do Not Change Speed–Accuracy Tradeoffs.Erik Bijleveld, Ruud Custers & Henk Aarts - 2010 - Cognition 115 (2):330-335.
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  • Normative Models and Their Success.Lukas Beck & Marcel Jahn - 2020 - Philosophy of the Social Sciences 51 (2):123-150.
    In this paper, we explore an under-investigated question concerning the class of formal models that aim at providing normative guidance. We call such models normative models. In particular, we exam...
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  • The Rationality of Political Experimentation.Gregory Robson - 2020 - Politics, Philosophy and Economics 20 (1):67-98.
    Theorists from John Stuart Mill to Robert Nozick have argued that citizens can gain insight into the demands of justice by experimenting with diverse forms of political life. I consider the rationa...
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  • Foundational Paradigms of Social Sciences.Shiping Tang - 2011 - Philosophy of the Social Sciences 41 (2):211-249.
    When stripped to the bare bone, there are only 11 foundational paradigms in social sciences. These foundational paradigms are like flashlights that can be utilized to shed light on different aspects of human society, but each of them can only shed light on a limited area of human society. Different schools in social science result from different but often incomplete combinations of these foundational paradigms. To adequately understand human society and its history, we need to deploy all 11 foundational paradigms, (...)
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  • Expected Comparative Utility Theory: A New Theory of Rational Choice.David Robert - 2018 - Philosophical Forum 49 (1):19-37.
    This paper proposes a new theory of rational choice, Expected Comparative Utility (ECU) Theory. It is first argued that for any decision option, a, and any state of the world, G, the measure of the choiceworthiness of a in G is the comparative utility of a in G – that is, the difference in utility, in G, between a and whichever alternative to a carries the greatest utility in G. On the basis of this principle, it is then argued, roughly (...)
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  • How To Be Rational: How to Think and Act Rationally.David Robert - manuscript
    This book is divided into 2 sections. In Section 1 (How to think rationally), I address how to acquire rational belief attitudes and, on that basis, I consider the question whether one ought to be skeptical of climate change. In Section 2 (How to act rationally), I address how to make rational choices and, on that basis, I consider the questions whether one is rationally required to do what one can to support life-extension medical research and, more broadly, whether one (...)
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  • Towards a Constructivist Eudaemonism.Robert Bass - 2004 - Dissertation, Bowling Green State University
    Eudaemonism is the common structure of the family of theories in which the central moral conception is eudaemonia , understood as "living well" or "having a good life." In its best form, the virtues are understood as constitutive and therefore essential means to achieving or having such a life. What I seek to do is to lay the groundwork for an approach to eudaemonism grounded in practical reason, and especially in instrumental reasoning, rather than in natural teleology. In the first (...)
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  • Modeling Bounded Rationality.Ariel Rubinstein - 1998 - MIT Press.
    p. cm. — (Zeuthen lecture book series) Includes bibliographical references (p. ) and index. ISBN 0-262-18187-8 (hardcover : alk. paper). — ISBN 0-262-68100-5 (pbk. : alk. paper) 1. Decision-making. 2. Economic man. 3. Game theory. 4. Rational expectations (Economic theory) I. Title. II. Series.
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  • Ambiguity and Uncertainty in Probabilistic Inference.Hillel J. Einhorn & Robin M. Hogarth - 1985 - Psychological Review 92 (4):433-461.
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  • Collective Risk Social Dilemma: Role of Information Availability in Achieving Cooperation Against Climate Change.Medha Kumar & Varun Dutt - 2019 - Journal of Dynamic Decision Making 5 (1):2-2.
    Behaviour change via monetary investments is a way to fighting climate change. Prior research has investigated the role of climate-change investments using a Collective-Risk-Social-Dilemma game, where players have to collectively reach a target by contributing to a climate fund; failing which they lose their investments with a probability. However, little is known on how variability in the availability of information about players’ investments influences investment decisions in CRSD. In an experiment involving CRSD, 480 participants were randomly assigned to different conditions (...)
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  • Dynamic Choice, Independence and Emotions.Astrid Hopfensitz & Frans Van Winden - 2008 - Theory and Decision 64 (2-3):249-300.
    From the viewpoint of the independence axiom of expected utility theory, an interesting empirical dynamic choice problem involves the presence of a “global risk,” that is, a chance of losing everything whichever safe or risky option is chosen. In this experimental study, participants have to allocate real money between a safe and a risky project. Treatment variable is the particular decision stage at which a global risk is resolved: (i) before the investment decision; (ii) after the investment decision, but before (...)
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  • What Is Risk Aversion?H. Orii Stefansson & Richard Bradley - 2019 - British Journal for the Philosophy of Science 70 (1):77-102.
    According to the orthodox treatment of risk preferences in decision theory, they are to be explained in terms of the agent's desires about concrete outcomes. The orthodoxy has been criticised both for conflating two types of attitudes and for committing agents to attitudes that do not seem rationally required. To avoid these problems, it has been suggested that an agent's attitudes to risk should be captured by a risk function that is independent of her utility and probability functions. The main (...)
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  • Rational Social and Political Polarization.Daniel J. Singer, Aaron Bramson, Patrick Grim, Bennett Holman, Jiin Jung, Karen Kovaka, Anika Ranginani & William J. Berger - 2019 - Philosophical Studies 176 (9):2243-2267.
    Public discussions of political and social issues are often characterized by deep and persistent polarization. In social psychology, it’s standard to treat belief polarization as the product of epistemic irrationality. In contrast, we argue that the persistent disagreement that grounds political and social polarization can be produced by epistemically rational agents, when those agents have limited cognitive resources. Using an agent-based model of group deliberation, we show that groups of deliberating agents using coherence-based strategies for managing their limited resources tend (...)
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  • From Allostatic Agents to Counterfactual Cognisers: Active Inference, Biological Regulation, and the Origins of Cognition.Andrew W. Corcoran, Giovanni Pezzulo & Jakob Hohwy - 2020 - Biology and Philosophy 35 (3):1-45.
    What is the function of cognition? On one influential account, cognition evolved to co-ordinate behaviour with environmental change or complexity. Liberal interpretations of this view ascribe cognition to an extraordinarily broad set of biological systems—even bacteria, which modulate their activity in response to salient external cues, would seem to qualify as cognitive agents. However, equating cognition with adaptive flexibility per se glosses over important distinctions in the way biological organisms deal with environmental complexity. Drawing on contemporary advances in theoretical biology (...)
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  • Rationalising Framing Effects: At Least One Task for Empirically Informed Philosophy.Sarah A. Fisher - 2021 - Critica 52 (156):5-30.
    Human judgements are affected by the words in which information is presented —or ‘framed’. According to the standard gloss, ‘framing effects’ reveal counter-normative reasoning, unduly affected by positive/negative language. One challenge to this view suggests that number expressions in alternative framing conditions are interpreted as denoting lower-bounded quantities. However, it is unclear whether the resulting explanation is a rationalising one. I argue that a number expression should only be interpreted lower-boundedly if this is what it actually means. I survey how (...)
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  • The Measurement of Individual Differences in Cognitive Biases: A Review and Improvement.Vincent Berthet - 2021 - Frontiers in Psychology 12.
    Individual differences have been neglected in decision-making research on heuristics and cognitive biases. Addressing that issue requires having reliable measures. The author first reviewed the research on the measurement of individual differences in cognitive biases. While reliable measures of a dozen biases are currently available, our review revealed that some measures require improvement and measures of other key biases are still lacking. We then conducted empirical work showing that adjustments produced a significant improvement of some measures and that confirmation bias (...)
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  • Risk Attitude in the DuLong Minority Ethnicity of China.Lili Tan, Siyuan Li & Xiaomin Zhang - 2021 - Frontiers in Psychology 12.
    Prospect theory predicts a four-fold risk attitude, which means that people are risk seeking for low-probability gain and high-probability loss and risk averse for low-probability loss and high-probability gain because they overweight probability when it is low. The four-fold pattern of risk attitude has been supported by several former studies with mainstream industrialized populations but has never previously been tested in a non-industrialized society. In this work, we examined the robustness of the four-fold risk attitude in the DuLong minority ethnicity (...)
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  • The Psychology of Human Risk Preferences and Vulnerability to Scare-Mongers: Experimental Economic Tools for Hypothesis Formulation and Testing.W. Harrison Glenn & Ross Don - 2016 - Journal of Cognition and Culture 16 (5):383-414.
    The Internet and social media have opened niches for political exploitation of human dispositions to hyper-alarmed states that amplify perceived threats relative to their objective probabilities of occurrence. Researchers should aim to observe the dynamic “ramping up” of security threat mechanisms under controlled experimental conditions. Such research necessarily begins from a clear model of standard baseline states, and should involve adding treatments to established experimental protocols developed by experimental economists. We review these protocols, which allow for joint estimation of risk (...)
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  • Understanding Human Decision Making in an Interactive Landslide Simulator Tool Via Reinforcement Learning.Pratik Chaturvedi & Varun Dutt - 2021 - Frontiers in Psychology 11.
    Prior research has used an Interactive Landslide Simulator tool to investigate human decision making against landslide risks. It has been found that repeated feedback in the ILS tool about damages due to landslides causes an improvement in human decisions against landslide risks. However, little is known on how theories of learning from feedback would account for human decisions in the ILS tool. The primary goal of this paper is to account for human decisions in the ILS tool via computational models (...)
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  • Law Lost, Compliance Found: A Frontline Understanding of the Non-linear Nature of Business and Employee Responses to Law.Na Li & Benjamin van Rooij - forthcoming - Journal of Business Ethics:1-20.
    This paper seeks to understand the transmission and reception of legal rules as a component of the regulatory compliance process. It adopts a frontline approach to regulatory compliance that traces the grassroot functioning of compliance processes from regulator, to compliance managers to individual employees. Through a multilevel and multi-sited ethnography of worker safety protection in Chinese construction industry, this paper shows that in the cases studied there is a fundamental disconnect in the transmission and reception of law from regulator to (...)
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  • Modality in Brandom's Incompatibility Semantics.Giacomo Turbanti - 2011 - In María Inés Crespo, Dimitris Gakis & Galit Weidman-Sassoon (eds.), Proceedings of the Amsterdam Graduate Conference - Truth, Meaning, and Normativity. ILLC Publications.
    In the fifth of his John Locke Lectures, Robert Brandom takes up the challenge to define a formal semantics for modelling conceptual contents according to his normative analysis of linguistic practices. The project is to exploit the notion of incompatibility in order to directly define a modally robust relation of entailment. Unfortunately, it can be proved that, in the original definition, the modal system represented by Incompatibility Semantics (IS) collapses into propositional calculus. In this paper I show how IS can (...)
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  • The Impact of Behavioral Biases on Herding Behavior of Investors in Islamic Financial Products.Sajid Mohy Ul Din, Shabra Khalid Mehmood, Arfan Shahzad, Israr Ahmad, Alla Davidyants & Ayman Abu-Rumman - 2021 - Frontiers in Psychology 11.
    The study aimed to investigate the impact of behavioral biases on herding for Islamic financial products with the mediation of shariah literacy. An adopted questionnaire from several published studies was used to collect data. The data were collected from 410 respondents and were analyzed with SmartPLS. The results for the direct impact showed that self-attribution, illusion of control, and information availability have a positive and significant impact on herding for Islamic financial products while shariah literacy showed an insignificant impact on (...)
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  • Market Hegemony and Economic Theory.Stephen Ellis - 2008 - Philosophy of the Social Sciences 38 (4):513-532.
    It is central to standard economic theory that people act on their interests. People are interested in a variety of things, so a range of values should influence market behavior. When engaged in commerce, however, people generally act for personal gain; the influence of other values usually just disappears in the marketplace. What is missing from the standard account is that people often act on proper subsets of their interests. Economics can, however, be extended to capture this insight. Key Words: (...)
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  • Comparativism and the Measurement of Partial Belief.Edward Elliott - forthcoming - Erkenntnis:1-28.
    According to comparativism, degrees of belief are reducible to a system of purely ordinal comparisons of relative confidence. (For example, being more confident that P than that Q, or being equally confident that P and that Q.) In this paper, I raise several general challenges for comparativism, relating to (i) its capacity to illuminate apparently meaningful claims regarding intervals and ratios of strengths of belief, (ii) its capacity to draw enough intuitively meaningful and theoretically relevant distinctions between doxastic states, and (...)
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  • The Oxford Handbook of Causal Reasoning.Michael R. Waldmann (ed.) - 2017 - Oxford University Press.
    Causal reasoning is one of our most central cognitive competencies, enabling us to adapt to our world. Causal knowledge allows us to predict future events, or diagnose the causes of observed facts. We plan actions and solve problems using knowledge about cause-effect relations. Without our ability to discover and empirically test causal theories, we would not have made progress in various empirical sciences. In the past decades, the important role of causal knowledge has been discovered in many areas of cognitive (...)
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  • Need, Frames, and Time Constraints in Risky Decision-Making.Adele Diederich, Marc Wyszynski & Stefan Traub - 2020 - Theory and Decision 89 (1):1-37.
    In two experiments, participants had to choose between a sure and a risky option. The sure option was presented either in a gain or a loss frame. Need was defined as a minimum score the participants had to reach. Moreover, choices were made under two different time constraints and with three different levels of induced need to be reached within a fixed number of trials. The two experiments differed with respect to the specific amounts to win and the need levels. (...)
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  • Uncertain About Uncertainty: How Qualitative Expressions of Forecaster Confidence Impact Decision-Making With Uncertainty Visualizations.Lace M. K. Padilla, Maia Powell, Matthew Kay & Jessica Hullman - 2021 - Frontiers in Psychology 11.
    When forecasting events, multiple types of uncertainty are often inherently present in the modeling process. Various uncertainty typologies exist, and each type of uncertainty has different implications a scientist might want to convey. In this work, we focus on one type of distinction between direct quantitative uncertainty and indirect qualitative uncertainty. Direct quantitative uncertainty describes uncertainty about facts, numbers, and hypotheses that can be communicated in absolute quantitative forms such as probability distributions or confidence intervals. Indirect qualitative uncertainty describes the (...)
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  • Reclaiming Davidson’s Methodological Rationalism as Galilean Idealization in Psychology.Carole J. Lee - 2010 - Philosophy of the Social Sciences 40 (1):84-106.
    In his early experimental work with Suppes, Davidson adopted rationality assumptions, not as necessary constraints on interpretation, but as practical conceits in addressing methodological problems faced by experimenters studying decision making under uncertainty. Although the content of their theory has since been undermined, their methodological approach—a Galilean form of methodological rationalism—lives on in contemporary psychological research. This article draws on Max Weber’s verstehen to articulate an account of Galilean methodological rationalism; explains how anomalies faced by Davidson’s early experimental work gave (...)
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  • Applied Cognitive Psychology and the "Strong Replacement" of Epistemology by Normative Psychology.Carole J. Lee - 2008 - Philosophy of the Social Sciences 38 (1):55-75.
    is normative in the sense that it aims to make recommendations for improving human judgment; it aims to have a practical impact on morally and politically significant human decisions and actions; and it studies normative, rational judgment qua rational judgment. These nonstandard ways of understanding ACP as normative collectively suggest a new interpretation of the strong replacement thesis that does not call for replacing normative epistemic concepts, relations, and inquiries with descriptive, causal ones. Rather, it calls for recognizing that the (...)
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  • The Puzzle of Cooperation in a Game of Chicken: An Experimental Study. [REVIEW]Marie-Laure Cabon-Dhersin & Nathalie Etchart-Vincent - 2012 - Theory and Decision 72 (1):65-87.
    The objective of this article is to investigate the impact of agent heterogeneity (as regards their attitude towards cooperation) and payoff structure on cooperative behaviour, using an experimental setting with incomplete information. A game of chicken is played considering two types of agents: ‘unconditional cooperators’, who always cooperate, and ‘strategic cooperators’, who do not cooperate unless it is in their interest to do so. Overall, our data show a much higher propensity to cooperate than predicted by theory. They also suggest (...)
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  • Norm Conflicts and Conditionals.Niels Skovgaard-Olsen, David Kellen, Ulrike Hahn & Karl Christoph Klauer - 2019 - Psychological Review (5):611-633.
    Suppose that two competing norms, N1 and N2, can be identified such that a given person’s response can be interpreted as correct according to N1 but incorrect according to N2. Which of these two norms, if any, should one use to interpret such a response? In this paper we seek to address this fundamental problem by studying individual variation in the interpretation of conditionals by establishing individual profiles of the participants based on their case judgments and reflective attitudes. To investigate (...)
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  • Transformative Experience and the Knowledge Norms for Action: Moss on Paul’s Challenge to Decision Theory.Richard Pettigrew - 2020 - In Becoming Someone New: Essays on Transformative Experience, Choice, and Change. New York, NY, USA:
    to appear in Lambert, E. and J. Schwenkler (eds.) Transformative Experience (OUP) -/- L. A. Paul (2014, 2015) argues that the possibility of epistemically transformative experiences poses serious and novel problems for the orthodox theory of rational choice, namely, expected utility theory — I call her argument the Utility Ignorance Objection. In a pair of earlier papers, I responded to Paul’s challenge (Pettigrew 2015, 2016), and a number of other philosophers have responded in similar ways (Dougherty, et al. 2015, Harman (...)
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  • Moore on the Right, the Good, and Uncertainty.Michael Smith - 2006 - In Terry Horgan & Mark Timmons (eds.), Metaethics After Moore. Oxford University Press. pp. 2006--133.
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  • Varieties of Bayesianism.Jonathan Weisberg - 2011
    Handbook of the History of Logic, vol. 10, eds. Dov Gabbay, Stephan Hartmann, and John Woods, forthcoming.
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  • Transitivity, the Sorites Paradox, and Similarity-Based Decision-Making.Alex Voorhoeve & Ken Binmore - 2006 - Erkenntnis 64 (1):101-114.
    A persistent argument against the transitivity assumption of rational choice theory postulates a repeatable action that generates a significant benefit at the expense of a negligible cost. No matter how many times the action has been taken, it therefore seems reasonable for a decision-maker to take the action one more time. However, matters are so fixed that the costs of taking the action some large number of times outweigh the benefits. In taking the action some large number of times on (...)
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  • Metaethics After Moore.Terry Horgan & Mark Timmons (eds.) - 2006 - Oxford University Press UK.
    Metaethics, understood as a distinct branch of ethics, is often traced to G. E. Moore's 1903 classic, Principia Ethica. Whereas normative ethics is concerned to answer first order moral questions about what is good and bad, right and wrong, metaethics is concerned to answer second order non-moral questions about the semantics, metaphysics, and epistemology of moral thought and discourse. Moore has continued to exert a powerful influence, and the sixteen essays here represent the most up-to-date work in metaethics after, and (...)
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  • Hybrid Vigor.Patricia Rich - 2018 - Erasmus Journal for Philosophy and Economics 11 (1):1-30.
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  • From Desire to Subjective Value: What Neuroeconomics Reveals About Naturalism.Daniel F. Hartner - 2014 - Erasmus Journal for Philosophy and Economics 7 (1):1.
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  • Reflections on the 2017 Nobel Memorial Prize Awarded to Richard Thaler.Till Grüne-Yanoff - 2017 - Erasmus Journal for Philosophy and Economics 10 (2):61-75.
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  • The Moral Trial: On Ethics and Economics.Alessandro Lanteri - 2008 - Erasmus Journal for Philosophy and Economics 1 (1):188-189.
  • Valuing Environmental Costs and Benefits in an Uncertain Future: Risk Aversion and Discounting.Fabien Medvecky - 2012 - Erasmus Journal for Philosophy and Economics 5 (1):1-1.
    A central point of debate over environmental policies concerns how future costs and benefits should be assessed. The most commonly used method for assessing the value of future costs and benefits is economic discounting. One often-cited justification for discounting is uncertainty. More specifically, it is risk aversion coupled with the expectation that future prospects are more risky. In this paper I argue that there are at least two reasons for disputing the use of risk aversion as a justification for discounting (...)
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  • Formalism, Rationality, and Evidence: The Case of Behavioural Economics.Sheila C. Dow - 2013 - Erasmus Journal for Philosophy and Economics 6 (3):26.
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  • Bottom Up Ethics - Neuroenhancement in Education and Employment.Hub Zwart, Márton Varju, Vincent Torre, Helge Torgersen, Winnie Toonders, Han Somsen, Ilina Singh, Simone Seyringer, Júlio Santos, Judit Sándor, Núria Saladié, Gema Revuelta, Alexandre Quintanilha, Salvör Nordal, Anna Meijknecht, Sheena Laursen, Nicole Kronberger, Christian Hofmaier, Elisabeth Hildt, Juergen Hampel, Peter Eduard, Rui Cunha, Agnes Allansdottir, George Gaskell & Imre Bard - 2018 - Neuroethics 11 (3):309-322.
    Neuroenhancement involves the use of neurotechnologies to improve cognitive, affective or behavioural functioning, where these are not judged to be clinically impaired. Questions about enhancement have become one of the key topics of neuroethics over the past decade. The current study draws on in-depth public engagement activities in ten European countries giving a bottom-up perspective on the ethics and desirability of enhancement. This informed the design of an online contrastive vignette experiment that was administered to representative samples of 1000 respondents (...)
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  • The Self According to Others: Explaining Social Preferences with Social Approbation.Oswin Kruger Ruiz - 2020 - Economic Thought 9 (2):38.
    In past decades, significant work in behavioural economics has decisively revealed the limitations of the human agency model known as Homo Economicus, whereby humans are purely driven by material self-interest. These behavioural findings are, however, far from integrated in mainstream economic theory, which builds heavily on the neoclassical tradition. Unbeknown to modern economics, Bernard Mandeville and Adam Smith already proposed a richer model of human agency in which choices also depend on the desire for social approbation. The social approbation mechanism (...)
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  • Bottom Up Ethics - Neuroenhancement in Education and Employment.Imre Bard, George Gaskell, Agnes Allansdottir, Rui Vieira da Cunha, Peter Eduard, Juergen Hampel, Elisabeth Hildt, Christian Hofmaier, Nicole Kronberger, Sheena Laursen, Anna Meijknecht, Salvör Nordal, Alexandre Quintanilha, Gema Revuelta, Núria Saladié, Judit Sándor, Júlio Borlido Santos, Simone Seyringer, Ilina Singh, Han Somsen, Winnie Toonders, Helge Torgersen, Vincent Torre, Márton Varju & Hub Zwart - 2018 - Neuroethics 11 (3):309-322.
    Neuroenhancement involves the use of neurotechnologies to improve cognitive, affective or behavioural functioning, where these are not judged to be clinically impaired. Questions about enhancement have become one of the key topics of neuroethics over the past decade. The current study draws on in-depth public engagement activities in ten European countries giving a bottom-up perspective on the ethics and desirability of enhancement. This informed the design of an online contrastive vignette experiment that was administered to representative samples of 1000 respondents (...)
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  • Subjective Moral Biases & Fallacies: Developing Scientifically & Practically Adequate Moral Analogues of Cognitive Heuristics & Biases.Mark H. Herman - 2019 - Dissertation, Bowling Green State University
    In this dissertation, I construct scientifically and practically adequate moral analogs of cognitive heuristics and biases. Cognitive heuristics are reasoning “shortcuts” that are efficient but flawed. Such flaws yield systematic judgment errors—i.e., cognitive biases. For example, the availability heuristic infers an event’s probability by seeing how easy it is to recall similar events. Since dramatic events, such as airplane crashes, are disproportionately easy to recall, this heuristic explains systematic overestimations of their probability (availability bias). The research program on cognitive heuristics (...)
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  • Conceptions of Value in Environmental Decision-Making.J. O'Neill & C. L. Spash - 2000 - Environmental Values 9 (4):521-536.
    Environmental problems have an ethical dimension. They are not just about the efficient use of resources. Justice in the distribution of environmental goods and burdens, fairness in the processes of environmental decision-making, the moral claims of future generations and non-humans, these and other ethical values inform the responses of citizens to environmental problems. How can these concerns enter into good policy-making processes?Two expert-based approaches are commonly advocated for incorporating ethical values into environmental decision-making. One is an 'economic capture' approach, according (...)
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  • Current Emotion Research in Economics.Klaus Wälde & Agnes Moors - 2017 - Emotion Review 9 (3):271-278.
    Positive and negative feelings were central to the development of economics, especially in utility theory in classical economics. While neoclassical utility theory ignored feelings, behavioral economics more recently reintroduced feelings in utility theory. Beyond feelings, economic theorists use full-fledged specific emotions to explain behavior that otherwise could not be understood or they study emotions out of interest for the emotion itself. While some analyses display a strong overlap between psychological thinking and economic modelling, in most cases there is still a (...)
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  • Model Uncertainty and Policy Choice: A Plea for Integrated Subjectivism.Alistair M. C. Isaac - 2014 - Studies in History and Philosophy of Science Part A 47:42-50.
    A question at the intersection of scientific modeling and public choice is how to deal with uncertainty about model predictions. This "high-level" uncertainty is necessarily value-laden, and thus must be treated as irreducibly subjective. Nevertheless, formal methods of uncertainty analysis should still be employed for the purpose of clarifying policy debates. I argue that such debates are best informed by models which integrate objective features with subjective ones. This integrated subjectivism is illustrated with a case study from the literature on (...)
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