Related papers: Decision making in Economics -- a behavioral appro…
Advancing our understanding of human behavior hinges on the ability of theories to unveil the mechanisms underlying such behaviors. Measuring the ability of theories and models to predict unobserved behaviors provides a principled method to…
We are living in an uncertain and dynamically changing world, where optimal decision-making under uncertainty is directly linked to the survival of species. However, evolutionary selection pressures that shape value-based decision-making…
Those designing autonomous systems that interact with humans will invariably face questions about how humans think and make decisions. Fortunately, computational cognitive science offers insight into human decision-making using tools that…
Dynamic decisions are pivotal to economic policy making. We show how existing evidence from randomized control trials can be utilized to guide personalized decisions in challenging dynamic environments with budget and capacity constraints.…
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.…
Human decision-making in real-life deviates significantly from the optimal decisions made by fully rational agents, primarily due to computational limitations or psychological biases. While existing studies in behavioral finance have…
Many experimental studies report that economics students tend to act more selfishly than students of other disciplines, a finding that received widespread public and professional attention. Two main explanations that the existing literature…
Recent advances in neurosciences and psychology have provided evidence that affective phenomena pervade intelligence at many levels, being inseparable from the cognitionaction loop. Perception, attention, memory, learning, decisionmaking,…
We present a general logical framework for reasoning about agents' cognitive attitudes of both epistemic type and motivational type. We show that it allows us to express a variety of relevant concepts for qualitative decision theory…
In this paper we consider human factors and their impact on spreadsheet development in strategic decision-making. This paper brings forward research from many disciplines both directly related to spreadsheets and a broader spectrum from…
AI systems are often used to make or contribute to important decisions in a growing range of applications, including criminal justice, hiring, and medicine. Since these decisions impact human lives, it is important that the AI systems act…
Understanding how people behave in strategic settings--where they make decisions based on their expectations about the behavior of others--is a long-standing problem in the behavioral sciences. We conduct the largest study to date of…
The rational choice theory is based on this idea that people rationally pursue goals for increasing their personal interests. In most conditions, the behavior of an actor is not independent of the person and others' behavior. Here, we…
To make informed decisions in natural environments that change over time, humans must update their beliefs as new observations are gathered. Studies exploring human inference as a dynamical process that unfolds in time have focused on…
How do decisions change with the economic environment and with time? This paper studies general nonstationary stopping problems and provides the methodological tools to answer these questions. First, we identify conditions that ensure a…
The outcomes of elections, product sales, and the structure of social connections are all determined by the choices individuals make when presented with a set of options, so understanding the factors that contribute to choice is crucial. Of…
This paper aims to find an algorithmic structure that affords to predict and explain economical choice behaviour particularly under uncertainty(random policies) by manipulating the prevalent Actor-Critic learning method to comply with the…
This paper presents an experimental study to investigate the learning and decision making behavior of individuals in a human society. Social learning is used as the mathematical basis for modelling interaction of individuals that aim to…
People leverage group discussions to collaborate in order to solve complex tasks, e.g. in project meetings or hiring panels. By doing so, they engage in a variety of conversational strategies where they try to convince each other of the…
Understanding the forces governing human behavior and social dynamics is a challenging problem. Individuals' decisions and actions are affected by interlaced factors, such as physical location, homophily, and social ties. In this paper, we…