Integrating Benefits and Costs in Decision Making

2014 ◽  
pp. 411-433 ◽  
Author(s):  
Jonathan D. Wallis ◽  
Matthew F.S. Rushworth
Keyword(s):  
Decision Making ◽  
Benefits And Costs

Derivation of Decision Boundaries for Left-Turn Treatments at Signalized Intersections

2017 ◽  
Vol 2620 (1) ◽  
pp. 1-9 ◽  
Author(s):  
Andrew Raessler ◽  
Jidong J. Yang
Keyword(s):  
Decision Making ◽  
Signalized Intersections ◽  
Maintenance Costs ◽  
Left Turn ◽  
Practical Guidelines ◽  
Decision Boundaries ◽  
Boundary Curves ◽  
Benefits And Costs

A new methodology is proposed to establish practical guidelines for four incremental left-turn treatments: ( a) permissive single left-turn lane, ( b) protected–permissive single left-turn lane, ( c) protected dual left-turn lanes with equal lane use, and ( d) protected dual left-turn lanes with unequal lane use. Decision boundaries were derived from the equilibrium at which the delays of two incremental treatments were equal. The benefits and costs associated with different left-turn treatments—including safety impact and construction and maintenance costs—also were considered. These benefits and costs effectually shift the boundary curves for more realistic decision making.

Mindfully Experimenting with IT

2014 ◽  
Vol 25 (2) ◽  
pp. 29-51 ◽  
Author(s):  
Robin S. Poston ◽  
William J. Kettinger
Keyword(s):  
Decision Making ◽  
Information Technology ◽  
Social Media ◽  
New Technology ◽  
Stakeholder Satisfaction ◽  
Media Technologies ◽  
New Information ◽  
Multi Level ◽  
Benefits And Costs

In many companies the process of new Information Technology (IT) identification and assessment lacks the rigor associated with experimentation. The realities of maintaining daily operations and the expense and expertise involved distract firms from conducting experiments. The authors explore cases of how companies introduce a new IT for the business use of digital social media. Because social media technologies are new, interest in its use is broad and diffused leading organizations to be unsure about how best to implement social media, prompting organizations to follow a mindful process of experimenting with these technologies. The cases illustrate that the extent of mindfulness influences how new technology implementations are introduced, supporting wider boundaries in assessments, richer interpretations of the IT's usefulness, multi-level foci concerning benefits and costs, persistence to continue exploration, and a greater use of fact-based decision-making. The authors observe that following a mindful introduction process reaps some of the benefits of experimentation, such as greater stakeholder satisfaction and organization-wide learning and understanding of the technology's potential.

Decision Process, Choice, and Consequences: Israel's Deep-Penetration Bombing in Egypt, 1970

1978 ◽  
Vol 30 (4) ◽  
pp. 483-516 ◽  
Author(s):  
Avi Shlaim ◽  
Raymond Tanter
Keyword(s):  
Decision Making ◽  
National Security ◽  
Decision Process ◽  
Deep Penetration ◽  
Air Power ◽  
War Of Attrition ◽  
Trade Offs ◽  
Political Dimensions ◽  
Expected Benefits ◽  
Benefits And Costs

Weapons systems have a great impact on national security decision making. In particular, the use of air power for political coercion or “compellence” is a tempting option when a nation has overwhelming aerial capabilities relative to an opponent. Israel's decision to launch air attacks deep within Egypt during the 1970 War of Attrition suggests that coercive bombing may not yield expected benefits and effect unanticipated costs. The decision process that produced the bombing choice was characterized by inadequate search for alternatives; conservative revision of opinion; faulty evaluation of consequences in terms of likelihood, benefits, and costs; a failure to consider value trade-offs between military and political dimensions; and overestimation of the probability of preferred outcomes, coupled with underestimation of the likelihood of undesirable outcomes.

Using Behavioral Economics to Advance Deterrence Research and Improve Crime Policy: Some Illustrative Experiments

2018 ◽  
Vol 64 (12) ◽  
pp. 1636-1659 ◽  
Author(s):  
Justin T. Pickett
Keyword(s):  
Decision Making ◽  
Behavioral Economics ◽  
Future Research ◽  
Crime Policy ◽  
Perceptions Of Crime ◽  
Situational Perceptions ◽  
Target Characteristics ◽  
Benefits And Costs ◽  
Decision Making Biases ◽  
Research And Policy

Recent experiments show that offender decision making is characterized by the use of cognitive heuristics. Questions remain about what this means for deterrence research and policy. I argue that the primary task is to identify ways to leverage decision-making biases to reduce crime. I outline three avenues for future research on deterrence, and discuss their relevance for crime policy. To illustrate these lines of inquiry and stimulate additional studies, I provide initial experimental results for each topic. I report evidence that (a) pseudocertainty publicity can increase perceived arrest risk and deterrent fear, (b) the availability heuristic can help explain how target characteristics affect situational perceptions of crime benefits and costs, and (c) individuals experience declining sensitivity to increases in sanction severity.

scholarly journals High Stakes

2017 ◽  
Author(s):  
Iain R. Brennan
Keyword(s):  
Decision Making ◽  
Research Evidence ◽  
Rational Analysis ◽  
High Stakes ◽  
High Reward ◽  
Complex Decision Making ◽  
Potential Benefits ◽  
Complex Decision ◽  
Victim Resistance ◽  
Benefits And Costs

This chapter describes the contradictory roles that weapons play in offender decision making as mechanisms that can both increase the physical harm to a victim of violence and also reduce the need for physical harm in victims of robbery. Because weapons serve simultaneously offensive and defensive purposes, the way in which offenders carry and use weapons is subject to a complex decision-making process. This process is presented and interpreted from a rational perspective, incorporating an offender’s calculation of potential benefits and costs as well as the uncertainty of a victim’s response. A rational analysis of weapon carrying and use is presented along with research evidence suggesting that culture and availability are important influences on weapon of choice and weapon-related behavior. The chapter concludes with a review of the effectiveness of weapons in reducing victim resistance and retaliation showing that weapon use is a high-reward/high-cost activity.

EUR-ASSESS Project Subgroup Report on Methodology:Methodological Guidance for the Conduct of Health Technology Assessment

1997 ◽  
Vol 13 (2) ◽  
pp. 186-219 ◽  
Author(s):  
Alessandro Liberati ◽  
Trevor A. Sheldon ◽  
H. David Banta
Keyword(s):  
Health Care ◽  
Decision Making ◽  
Health Policy ◽  
Health Technology Assessment ◽  
Technology Assessment ◽  
Health Technology ◽  
Policy Decisions ◽  
Health Technologies ◽  
Benefits And Costs

Health technology assessment (HTA) is primarily concerned with the consequences (benefits and costs) of health care and health policy decisions. Because decision making is complex and outcomes are often uncertain, it is helpful to attempt to assess the consequences. The quality of decisions can be improved by a process that provides a consistent framework for identifying and assessing health technologies.

To be corrupt or not to be corrupt

2014 ◽  
Vol 17 (3) ◽  
pp. 306-326 ◽  
Author(s):  
Hendi Yogi Prabowo
Keyword(s):  
Decision Making ◽  
Relevant Literature ◽  
Secondary Data ◽  
Decision Makers ◽  
Primary Sources ◽  
Decision Making Process ◽  
Perceived Benefits ◽  
Content Type ◽  
Eradication Strategy ◽  
Benefits And Costs

Purpose – The purpose of this paper, which is based on author’s study, is to shed light on the behavioral elements of corruption in particular the decision-making process undertaken by potential offenders to construct a solid basis for effective corruption eradication strategy in Indonesia. Design/methodology/approach – This study examines corruption cases in Indonesia in the past two years which have been investigated by the Indonesian Corruption Eradication Commission as well as relevant literature on corruption to gain a better understanding of corruption offenders’ behavior. Findings – The author establishes that by looking at the behavioral side of corruption we may gain more understanding on potential offenders’ way of thinking as a reference in dealing with corruption. The discussions in this paper suggest that when potential offenders are exposed to pressure/motivation, opportunity and rationalization to commit corruption, they will (consciously or subconsciously) assess all the perceived benefits and costs before deciding to commit (or not to commit) corruption. Understanding the mechanics by which potential offenders decide to engage (or not to engage) in corruption will provide government and decision makers with a solid basis for formulating an effective corruption eradication strategy. Research limitations/implications – This study utilizes only secondary data sources to build its analysis on the perceived benefits and costs of engaging in corrupt practices. For future studies, primary sources, such as incarcerated corruption offenders, will offer a more accurate view of the actual decision-making process behind corrupt practices. Practical implications – This paper contributes to the development of effective corruption eradication strategy in Indonesia by introducing the fraud decision scale as a framework by which appropriate measures will be devised so as to yield the intended results. Originality/value – Instead of taking the more popular legal or political standpoint, this paper takes an unconventional view of assessing corruption problem from the behavioral perspective.

scholarly journals The Use of Cost-Benefit Analysis in Environmental Policy

EDIS ◽  
2013 ◽  
Vol 2013 (10) ◽  
Author(s):  
Elizabeth F. Pienaar
Keyword(s):  
Decision Making ◽  
Economic Theory ◽  
Environmental Policy ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Environmental Problems ◽  
Great Care ◽  
Benefit Analysis ◽  
Wildlife Ecology ◽  
Benefits And Costs

When analyzing environmental problems, economists consider both the benefits and costs of actions. If benefits exceed costs then economic theory supports that action. For example, if the total benefits of conserving land exceed the costs then cost-benefit analysis would support conservation of the land. However, great care must be taken to accurately identify and quantify benefits and costs to determine whether an action is cost-benefit justified. Stakeholders may have an incentive to overstate costs or benefits, in order to influence decision-making. This 5-page fact sheet was written by Elizabeth F. Pienaar, and published by the UF Department of Wildlife Ecology and Conservation, September 2013. http://edis.ifas.ufl.edu/uw383

scholarly journals Self-deception can evolve under appropriate costs

2015 ◽  
Vol 61 (2) ◽  
pp. 382-396 ◽  
Author(s):  
Juan Camilo Ramírez ◽  
James A. R. Marshall
Keyword(s):  
Decision Making ◽  
Natural Selection ◽  
Cognitive Biases ◽  
Recent Model ◽  
Decision Makers ◽  
Extended Model ◽  
Course Of Action ◽  
Benefits And Costs

Abstract Apparent biases in decision making by animals, including humans, seem to present an evolutionary puzzle, since one would expect decisions based on biased (unrealistic) information to be suboptimal. Although cognitive biases are hard to diagnose in real animals (Marshall et al., 2013b), we investigate Trivers’ proposal that individuals should self-deceive first in order to better deceive others (Trivers, 2011). Although this proposal has been scrutinized extensively (Bandura et al., 2011) it has not been formally modelled. We present the first model designed to investigate Trivers’ proposal. We introduce an extension to a recent model of the evolution of self-deception (Johnson and Fowler, 2011). In the extended model individuals make decisions by taking directly into account the benefits and costs of each outcome and by choosing the course of action that can be estimated as the best with the information available. It is shown that in certain circumstances self-deceiving decision-makers are the most evolutionarily successful, even when there is no deception between these. In a further extension of this model individuals additionally exhibit deception biases and Trivers’ premise (that effective deception is less physiologically costly with the aid of self-deception) is incorporated. It is shown that under Trivers’ hypothesis natural selection favors individuals that self-deceive as they deceive others.

Sign in / Sign up

Export Citation Format

Share Document