Affective Decision Making Under Uncertainty
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Affective Decision Making Under Uncertainty
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Author : Donald J. Brown
language : en
Publisher: Springer Nature
Release Date : 2020-12-18
Affective Decision Making Under Uncertainty written by Donald J. Brown and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-12-18 with Business & Economics categories.
This book is an exploration of the ubiquity of ambiguity in decision-making under uncertainty. It presents various essays on behavioral economics and behavioral finance that draw on the theory of Black Swans (Taleb 2010), which argues for a distinction between unprecedented events in our past and unpredictable events in our future. The defining property of Black Swan random events is that they are unpredictable, i.e., highly unlikely random events. In this text, Mandelbrot’s (1972) operational definition of risky random unpredictable events is extended to Black Swan assets – assets for which the cumulative probability distribution or conditional probability distribution of random future asset returns is a power distribution. Ambiguous assets are assets for which the uncertainties of future returns are not risks. Consequently, there are two disjoint classes of Black Swan assets: Risky Black Swan assets and Ambiguous Black Swan assets, a new class of ambiguous assets with unpredictable random future outcomes. The text is divided into two parts, the first of which focuses on affective moods, introduces affective utility functions and discusses the ambiguity of Black Swans. The second part, which shifts the spotlight to affective equilibrium in asset markets, features chapters on affective portfolio analysis and Walrasian and Gorman Polar Form Equilibrium Inequalities. In order to gain the most from the book, readers should have completed the standard introductory graduate courses on microeconomics, behavioral finance, and convex optimization. The book is intended for advanced undergraduates, graduate students and post docs specializing in economic theory, experimental economics, finance, mathematics, computer science or data analysis.
Judgment And Decision Making Under Uncertainty Descriptive Normative And Prescriptive Perspectives
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Author : David R. Mandel
language : en
Publisher: Frontiers Media SA
Release Date : 2019-09-26
Judgment And Decision Making Under Uncertainty Descriptive Normative And Prescriptive Perspectives written by David R. Mandel and has been published by Frontiers Media SA this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-09-26 with categories.
Decision Making Under Uncertainty
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Author : Kerstin Preuschoff
language : en
Publisher: Frontiers Media SA
Release Date : 2015-06-16
Decision Making Under Uncertainty written by Kerstin Preuschoff and has been published by Frontiers Media SA this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-06-16 with Biological psychiatry categories.
Most decisions in life are based on incomplete information and have uncertain consequences. To successfully cope with real-life situations, the nervous system has to estimate, represent and eventually resolve uncertainty at various levels. A common tradeoff in such decisions involves those between the magnitude of the expected rewards and the uncertainty of obtaining the rewards. For instance, a decision maker may choose to forgo the high expected rewards of investing in the stock market and settle instead for the lower expected reward and much less uncertainty of a savings account. Little is known about how different forms of uncertainty, such as risk or ambiguity, are processed and learned about and how they are integrated with expected rewards and individual preferences throughout the decision making process. With this Research Topic we aim to provide a deeper and more detailed understanding of the processes behind decision making under uncertainty.
Decision Making Under Uncertainty
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Author : R.W. Scholz
language : en
Publisher: Elsevier
Release Date : 1983-11-01
Decision Making Under Uncertainty written by R.W. Scholz and has been published by Elsevier this book supported file pdf, txt, epub, kindle and other format this book has been release on 1983-11-01 with Psychology categories.
This volume contains the revised papers of an international symposium on research on fallacies, biases, and the development of decision behavior under uncertainty. The papers are organized in five main sections. The Introduction outlines the conceptual framework and how three of the sections - Cognitive Decision Research, Social Interaction, and Development and Epistemology - are interrelated and also how new fields, such as research into developmental questions, can be productively integrated. In the fifth section Comments are collected, which evaluate the impact of the contributions on decision research itself, and also on cognitive psychology, social psychology, economic theory, ant the discipline of mathematics education.
Iowa Gambling Task Somatic Marker Hypothesis And Neuroeconomics Rationality And Emotion In Decision Under Uncertainty
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Author : Yao-Chu Chiu
language : en
Publisher: Frontiers Media SA
Release Date : 2022-06-27
Iowa Gambling Task Somatic Marker Hypothesis And Neuroeconomics Rationality And Emotion In Decision Under Uncertainty written by Yao-Chu Chiu and has been published by Frontiers Media SA this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-06-27 with Science categories.
Rational Choice In An Uncertain World
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Author : Reid Hastie
language : en
Publisher: SAGE
Release Date : 2010
Rational Choice In An Uncertain World written by Reid Hastie and has been published by SAGE this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with Psychology categories.
In the Second Edition of Rational Choice in an Uncertain World the authors compare the basic principles of rationality with actual behaviour in making decisions. They describe theories and research findings from the field of judgment and decision making in a non-technical manner, using anecdotes as a teaching device. Intended as an introductory textbook for advanced undergraduate and graduate students, the material not only is of scholarly interest but is practical as well. The Second Edition includes: - more coverage on the role of emotions, happiness, and general well-being in decisions - a summary of the new research on the neuroscience of decision processes - more discussion of the adaptive value of (non-rational heuristics) - expansion of the graphics for decision trees, probability trees, and Venn diagrams.
Blackwell Handbook Of Judgment And Decision Making
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Author : Derek J. Koehler
language : en
Publisher: John Wiley & Sons
Release Date : 2008-04-15
Blackwell Handbook Of Judgment And Decision Making written by Derek J. Koehler and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-04-15 with Psychology categories.
The Blackwell Handbook of Judgment and Decision Making is a state-of-the art overview of current topics and research in the study of how people make evaluations, draw inferences, and make decisions under conditions of uncertainty and conflict. Contains contributions by experts from various disciplines that reflect current trends and controversies on judgment and decision making. Provides a glimpse at the many approaches that have been taken in the study of judgment and decision making and portrays the major findings in the field. Presents examinations of the broader roles of social, emotional, and cultural influences on decision making. Explores applications of judgment and decision making research to important problems in a variety of professional contexts, including finance, accounting, medicine, public policy, and the law.
Cognitive And Affective Control
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Author : Gilles Pourtois
language : en
Publisher: Frontiers E-books
Release Date :
Cognitive And Affective Control written by Gilles Pourtois and has been published by Frontiers E-books this book supported file pdf, txt, epub, kindle and other format this book has been release on with categories.
Traditionally, cognition and emotion are seen as separate domains that are independent at best and in competition at worst. The French scientist and philosopher Blaise Pascal (1623-1662) famously said “Le coeur a ses raisons que la raison ne connaît point” (The heart has its reasons that reason does not know). Over the last century, however, psychologists and neuroscientists have increasingly appreciated their very strong reciprocal connections and interactions. Initially this was demonstrated in cognitive functions such as attention, learning and memory, and decision making. For instance, an emotional stimulus captures attention (e.g., Anderson & Phelps, 2001). Likewise, emotional stimuli are better learned and remembered than neutral ones (e.g., McGaugh, 1990) and they can provide strong incentives to bias decision making (Bechara et al., 1997). In more recent years, cognitive control has also been found to be intimately intertwined with emotion. This is consistent with an approach that considers cognitive control as an adaptive learning process (Braver & Cohen, 1999), reinforcement learning in particular (Holroyd & Coles, 2002; Verguts & Notebaert, 2009). From this perspective, cognitive control is not a cool encapsulated executive function, but instead involves rapidly calculating the value of situational, contextual, and action cues (Rushworth & Behrens, 2008) for the purpose of adapting the cognitive system toward future optimal performance. A wide array of research has shed light on cognitive control and its interactions with affect or motivation. Behaviorally, important phenomena include how people respond to difficult stimuli (e.g., incongruent stimuli, task switches), negative feedback, or errors and how this influences subsequent task processing. Neurally, an important target structure has been the anterior cingulate cortex (ACC) and its connections to traditional “emotional” (e.g., amygdala) and “cognitive” areas (e.g., (pre)motor cortex, dorsolateral prefrontal cortex). ACC seems to play a predominant role in integrating distant effects from remote cognitive and emotion systems in order to guide and optimize behavior. The current special issue focuses on the bi-directional link between emotion and cognitive control. We invite studies that investigate the influence from emotion on cognitive control, or vice versa, the influence of cognitive control on emotion. Contributions can be of different types: We welcome empirical contributions (behavioral or neuroscientific) but also computational modeling, theory, or review papers. By bringing together researchers from the traditionally separated domains, we hope to further stimulate the crosstalk between emotion and cognitive control, and thus to deepen our understanding of both.
Twenty Years After The Iowa Gambling Task Rationality Emotion And Decision Making
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Author : Jong-Tsun Huang
language : en
Publisher: Frontiers Media SA
Release Date : 2018-08-21
Twenty Years After The Iowa Gambling Task Rationality Emotion And Decision Making written by Jong-Tsun Huang and has been published by Frontiers Media SA this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-08-21 with Decision making categories.
The world is full of uncertainty. In unpredictable circumstances, can emotions facilitate advantageous decision-making? A neuroscience team, led by Antonio Damasio, explored this question using the Iowa Gambling Task (IGT). To the present day, the findings of numerous IGT-related investigations strongly influence clinical and interdisciplinary research, for example, in neuroeconomics and neuromarketing. This special issue examines IGT-based research progress over the past 20 years through literature reviews, clinical examinations, model construction, theoretical integration, and brain imaging technology. Both supportive and opposing viewpoints are provided to frame correlations between rationality, emotion, decision-making, and IGT. Potential future directions for IGT studies are discussed
Decision Making Neural And Behavioural Approaches
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Author :
language : en
Publisher: Newnes
Release Date : 2013-01-10
Decision Making Neural And Behavioural Approaches written by and has been published by Newnes this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-01-10 with Psychology categories.
This well-established international series examines major areas of basic and clinical research within neuroscience, as well as emerging and promising subfields.This volume explores interdisciplinary research on decision making taking a neural and behavioural approach Leading authors review the state-of-the-art in their field of investigation, and provide their views and perspectives for future research Chapters are extensively referenced to provide readers with a comprehensive list of resources on the topics covered All chapters include comprehensive background information and are written in a clear form that is also accessible to the non-specialist