Related papers: A Theory of Ex Post Rationalization
Moving groups are routinely faced with a choice of different routes as part of their daily lives, such as choosing between exits from a building. Differences in moving speeds and environmental constraints often lead to individuals being…
Aggregating risks from multiple sources can be complex and demanding, and decision makers usually adopt heuristics to simplify the evaluation process. This paper axiomatizes two closed related and yet different heuristics, narrow bracketing…
Rationality is frequently associated with making the best possible decisions. It's widely acknowledged that humans, as rational beings, have limitations in their decision-making capabilities. Nevertheless, recent advancements in fields,…
In order for AI systems to communicate effectively with people, they must understand how we make decisions. However, people's decisions are not always rational, so the implicit internal models of human decision-making in Large Language…
Many policies allocate harms or benefits that are uncertain in nature: they produce distributions over the population in which individuals have different probabilities of incurring harm or benefit. Comparing different policies thus involves…
Theoretically as well as experimentally it is investigated how people represent their knowledge in order to make decisions or to share their knowledge with others. Experiment 1 probes into the ways how people 6ather information about the…
State-of-the-art recommender systems have the ability to generate high-quality recommendations, but usually cannot provide intuitive explanations to humans due to the usage of black-box prediction models. The lack of transparency has…
Decisions by humans depend on their estimations given some uncertain sensory data. These decisions can also be influenced by the behavior of others. Here we present a mathematical model to quantify this influence, inviting a further study…
Traditional statistical theory assumes that the analysis to be performed on a given data set is selected independently of the data themselves. This assumption breaks downs when data are re-used across analyses and the analysis to be…
Although behavioral economics has demonstrated that there are many situations where rational choice is a poor empirical model, it has so far failed to provide quantitative models of economic problems such as price formation. We make a step…
Decisions are often based on imprecise, uncertain or vague information. Likewise, the consequences of an action are often equally unpredictable, thus putting the decision maker into a twofold jeopardy. Assuming that the effects of an action…
Our goal is to develop a partial ordering method for comparing stochastic choice functions on the basis of their individual rationality. To this end, we assign to any stochastic choice function a one-parameter class of deterministic choice…
We review the literature on models that try to explain human behavior in social interactions described by normal-form games with monetary payoffs. We start by covering social and moral preferences. We then focus on the growing body of…
The question of how people vote strategically under uncertainty has attracted much attention in several disciplines. Theoretical decision models have been proposed which vary in their assumptions on the sophistication of the voters and on…
Human reasoning involves different strategies, each suited to specific problems. Prior work shows that large language model (LLMs) tend to favor a single reasoning strategy, potentially limiting their effectiveness in diverse reasoning…
By late 20th century, the rationality wars had launched debates about the nature and norms of intuitive and reflective thinking. Those debates drew from mid-20th century ideas such as bounded rationality, which challenged more idealized…
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…
We show that under plausible levels of background risk, no theory of choice under risk -- such as expected utility theory, prospect theory, or rank dependent utility -- can simultaneously satisfy the following three economic postulates: (i)…
This technical note considers the sampling of outcomes that provide the greatest amount of information about the structure of underlying world models. This generalisation furnishes a principled approach to structure learning under a…
In pairwise interactions assortativity in cognition means that pairs where both decision-makers use the same cognitive process are more likely to occur than what happens under random matching. In this paper we study both the mechanisms…