Related papers: Decision making in Economics -- a behavioral appro…

Causal reasoning is essential for understanding decision-making about the behaviour of complex `ecosystems' of systems that underpin modern society, with security -- including issues around correctness, safety, resilience, etc. -- typically…

Recent advances in AI models have increased the integration of AI-based decision aids into the human decision making process. To fully unlock the potential of AI-assisted decision making, researchers have computationally modeled how humans…

The research aims to explore how individuals perceive and interact with data protection practices in an era of increasing reliance on technology and the widespread availability of personal data. The study employs a game theoretical approach…

Behavior of systems that are functions of anticipated behavior of other systems, whose own behavior is also anticipatory but homeostatic and determined by hierarchical ordering, which changes over time, of sets of possible environments that…

Behavioral research can provide important insights for SE practices. But in performing it, many studies of SE are committing a normative fallacy - they misappropriate normative and prescriptive theories for descriptive purposes. The…

The theory of rational choice assumes that when people make decisions they do so in order to maximize their utility. In order to achieve this goal they ought to use all the information available and consider all the choices available to…

In this paper, we present a novel model to characterize individual tendencies in repeated decision-making scenarios, with the goal of designing model-based control strategies that promote virtuous choices amidst social and external…

Big data, both in its structured and unstructured formats, have brought in unforeseen challenges in economics and business. How to organize, classify, and then analyze such data to obtain meaningful insights are the ever-going research…

The ability to make decisions based on data, with its inherent uncertainties and variability, is a complex and vital skill in the modern world. The need for such quantitative critical thinking occurs in many different contexts, and while it…

We develop a sequence of models describing information transmission and decision dynamics for a network of individual agents subject to multiple sources of influence. Our general framework is set in the context of an impending natural…

There are many examples of human decision making which cannot be modeled by classical probabilistic and logic models, on which the current AI systems are based. Hence the need for a modeling framework which can enable intelligent systems to…

Norms have been extensively proposed as coordination mechanisms for both agent and human societies. Nevertheless, choosing the norms to regulate a society is by no means straightforward. The reasons are twofold. First, the norms to choose…

Professionals' decisions are the focus of every field. For example, politicians' decisions will influence the future of the country, and stock analysts' decisions will impact the market. Recognizing the influential role of professionals'…

The long-term impact of algorithmic decision making is shaped by the dynamics between the deployed decision rule and individuals' response. Focusing on settings where each individual desires a positive classification---including many…

Development and growth are complex and tumultuous processes. Modern economic growth theories identify some key determinants of economic growth. However, the relative importance of the determinants remains unknown, and additional variables…

This article proposes predictive economics as a distinct analytical perspective within economics, grounded in machine learning and centred on predictive accuracy rather than causal identification. Drawing on the instrumentalist tradition…

It has become apparent that models that have been applied widely in economics, including Machine Learning techniques and Data Mining methods, should take into consideration principles that derive from the theories of Personality Psychology…

Selecting language models in business contexts requires a careful analysis of the final financial benefits of the investment. However, the emphasis of academia and industry analysis of LLM is solely on performance. This work introduces a…

A decision is an act or event of decision taking. Decision making always includes decision taking, the latter not involving significant exchanges with non-deciding agents. A decision outcome is a piece of storable information constituting…

This paper proposes models of learning process in teams of individuals who collectively execute a sequence of tasks and whose actions are determined by individual skill levels and networks of interpersonal appraisals and influence. The…