Related papers: Uniqueness Bias: Why It Matters, How to Curb It
Behavioral science has witnessed an explosion in the number of biases identified by behavioral scientists, to more than 200 at present. This article identifies the 10 most important behavioral biases for project management. First, we argue…
Individual and social biases undermine the effectiveness of human advisers by inducing judgment errors which can disadvantage protected groups. In this paper, we study the influence these biases can have in the pervasive problem of fake…
This paper explores how theories of the planning fallacy and the outside view may be used to conduct quality control and due diligence in project management. First, a much-neglected issue in project management is identified, namely that the…
Recent work has considered theoretical models for the behavior of agents with specific behavioral biases: rather than making decisions that optimize a given payoff function, the agent behaves inefficiently because its decisions suffer from…
How do algorithmic decision aids introduced in business decision processes affect task performance? In a first experiment, we study effective collaboration. Faced with a decision, subjects alone have a success rate of 72%; Aided by a…
Human biases have been shown to influence the performance of models and algorithms in various fields, including Natural Language Processing. While the study of this phenomenon is garnering focus in recent years, the available resources are…
Uncertainty is a pervasive challenge in decision and risk management and it is usually studied by quantification and modeling. Interestingly, engineers and other decision makers usually manage uncertainty with strategies such as…
In financial asset management, choosing a portfolio requires balancing returns, risk, exposure, liquidity, volatility and other factors. These concerns are difficult to compare explicitly, with many asset managers using an intuitive or…
We propose a tractable unified framework to study the evolution and interaction of model-misspecification concerns and complexity aversion in repeated decision problems. This aims to capture environments where decision makers worry that…
Biased human decisions have consequential impacts across various domains, yielding unfair treatment of individuals and resulting in suboptimal outcomes for organizations and society. In recognition of this fact, organizations regularly…
Cognitive biases have been studied in psychology, sociology, and behavioral economics for decades. Traditionally, they have been considered a negative human trait that leads to inferior decision-making, reinforcement of stereotypes, or can…
As automatic optimization techniques find their way into industrial applications, the behavior of many complex systems is determined by some form of planner picking the right actions to optimize a given objective function. In many cases,…
Due to the widespread use of data-powered systems in our everyday lives, concepts like bias and fairness gained significant attention among researchers and practitioners, in both industry and academia. Such issues typically emerge from the…
Cognitive biases are predictable, systematic errors in human reasoning. They influence decision-making in various areas, including architectural decision-making, where architects face many choices. For example, anchoring can cause…
We study the subtlety of optimal paternalism when a utilitarian planner has the power to design a discrete choice set for a heterogeneous population with bounded rationality. We first consider the planning problem in abstraction. We show…
We design a double-or-quits game to compare the speed of learning one's specific ability with the speed of rising confidence as the task gets increasingly difficult. We find that people on average learn to be overconfident faster than they…
Successful design of human-in-the-loop control systems requires appropriate models for human decision makers. Whilst most paradigms adopted in the control systems literature hide the (limited) decision capability of humans, in behavioral…
Prior proposals for cumulative statistics suggest making tiny random perturbations to the scores (independent variables in a regression) in order to ensure the scores' uniqueness. Uniqueness means that no score for any member of the…
Cognitive biases appear during code review. They significantly impact the creation of feedback and how it is interpreted by developers. These biases can lead to illogical reasoning and decision-making, violating one of the main hypotheses…
The HCI community commonly evaluates decision support systems based on whether they improve task performance or promote appropriate user reliance. In this work, we look beyond decision outcomes to examine the process through which users…