Prospective Decision Making in Animals: A Potential Role for Intertemporal Choice in the Study of Prospective Cognition

2011 ◽  
pp. 325-343 ◽  
Author(s):  
Lucy G. Cheke ◽  
James M. Thom ◽  
Nicola S. Clayton
Keyword(s):  
Decision Making ◽  
Potential Role ◽  
Intertemporal Choice

A critical review and re-assessment of theories of smallholder decision-making: a case of conservation agriculture households, Zambia

2013 ◽  
Vol 29 (3) ◽  
pp. 277-290 ◽  
Author(s):  
Bridget Bwalya Umar
Keyword(s):  
Decision Making ◽  
Economic Development ◽  
Agricultural Development ◽  
Potential Role ◽  
New Technologies ◽  
Rural Livelihoods ◽  
Conservation Agriculture ◽  
Economic Incentives ◽  
Uncertain Environments

AbstractDifferent theories have been posited that try to explain the decision-making process of smallholders especially regarding the adoption of new technologies or new agricultural techniques. The objective of this paper is to review and re-assess the dominant household production theories to explain the decision making of smallholders practicing conservation agriculture (CA) in the southern, eastern, and central provinces of Zambia. It also discusses the potential role of CA toward economic development. It finds that the CA smallholders studied did not aim to maximize profits but tried to secure household consumption from their own production before any other considerations in risky and uncertain environments. Their response to economic incentives was contingent on minimizing risks associated with securing a minimum level of livelihood and investing into local forms of insurance. This paper concludes that the ability for CA to contribute to rural livelihoods and economic development would depend on how adequately the factors that hinder smallholder agricultural development in general are addressed.

scholarly journals Anomalies: Intertemporal Choice

1989 ◽  
Vol 3 (4) ◽  
pp. 181-193 ◽  
Author(s):  
George Loewenstein ◽  
Richard H Thaler
Keyword(s):  
Decision Making ◽  
Time Delay ◽  
Discount Rate ◽  
Intertemporal Choice ◽  
Discount Rates ◽  
Market Rate ◽  
Money Flows ◽  
Speed Up ◽  
The Way

We examine a number of situations in which people do not appear to discount money flows at the market rate of interest or any other single discount rate. Discount rates observed in both laboratory and field decision-making environments are shown to depend on the magnitude and sign of what is being discounted, on the time delay, on whether the choice is cast in terms of speed-up or delay, on the way in which a choice is framed, and on whether future benefits or costs induce savoring or dread.

scholarly journals Poverty and Economic Decision-Making: Evidence from Changes in Financial Resources at Payday

2016 ◽  
Vol 106 (2) ◽  
pp. 260-284 ◽  
Author(s):  
Leandro S. Carvalho ◽  
Stephan Meier ◽  
Stephanie W. Wang
Keyword(s):  
Decision Making ◽  
Cognitive Function ◽  
Low Income ◽  
Online Survey ◽  
Intertemporal Choice ◽  
Financial Resources ◽  
Economic Decision Making ◽  
Choice Tasks ◽  
Intertemporal Choices

We study the effect of financial resources on decision-making. Low-income US households are randomly assigned to receive an online survey before or after payday. The survey collects measures of cognitive function and administers risk and intertemporal choice tasks. The study design generates variation in cash, checking and savings balances, and expenditures. Before-payday participants behave as if they are more present-biased when making intertemporal choices about monetary rewards but not when making intertemporal choices about nonmonetary real-effort tasks. Nor do we find before-after differences in risk-taking, the quality of decision-making, the performance in cognitive function tasks, or in heuristic judgments. (JEL C83, D14, D81, D91, I32)

scholarly journals Intertemporal choice reflects value comparison rather than self-control: insights from confidence judgments

2021 ◽  
Author(s):  
Adam Bulley ◽  
Karolina Maria Lempert ◽  
Colin Conwell ◽  
Muireann Irish
Keyword(s):  
Decision Making ◽  
Intertemporal Choice ◽  
The Self ◽  
Self Control ◽  
Confidence Judgments ◽  
Adult Participants ◽  
Subjective Value ◽  
The Right ◽  
Intertemporal Decisions ◽  
Intertemporal Choices

Intertemporal decision-making has long been assumed to measure self-control, with prominent theories treating choices of smaller, sooner rewards as failed attempts to override immediate temptation. If this view is correct, people should be more confident in their intertemporal decisions when they “successfully” delay gratification than when they do not. In two pre- registered experiments with built-in replication, adult participants (n=117) made monetary intertemporal choices and rated their confidence in having made the right decisions. Contrary to assumptions of the self-control account, confidence was not higher when participants chose delayed rewards. Rather, participants were more confident in their decisions when possible rewards were further apart in time-discounted subjective value, closer to the present, and larger in magnitude. Demonstrating metacognitive insight, participants were more confident in decisions that better aligned with their independent valuation of possible rewards. Decisions made with less confidence were more prone to changes-of-mind and more susceptible to a patience-enhancing manipulation. Together, our results establish that confidence in intertemporal choice tracks uncertainty in estimating and comparing the value of possible rewards – just as it does in decisions unrelated to self-control. Our findings challenge self- control views and instead cast intertemporal choice as a form of value-based decision-making about future possibilities.

scholarly journals Modelling plant health for policy

2020 ◽  
Vol 4 (5) ◽  
pp. 473-483 ◽  
Author(s):  
Glyn Jones ◽  
Adam Kleczkowski
Keyword(s):  
Decision Making ◽  
Human Health ◽  
Potential Role ◽  
Open Systems ◽  
Decision Makers ◽  
Plant Health ◽  
Health Issues ◽  
Future Developments ◽  
Systems Modelling

Plant health is relatively poorly funded compared with animal and human health issues. However, we contend it is at least as complex and likely more so given the number of pests and hosts and that outbreaks occur in poorly monitored open systems. Modelling is often suggested as a method to better consider the threats to plant health to aid resource and time poor decision makers in their prioritisation of responses. However, like other areas of science, the modelling community has not always provided accessible and relevant solutions. We describe some potential solutions to developing plant health models in conjunction with decision makers based upon a recent example and illustrate how an increased emphasis on plant health is slowly expanding the potential role of modelling in decision making. We place the research in the Credibility, Relevance and Legitimacy (CRELE) framework and discuss the implications for future developments in co-construction of policy-linked models.

Sign in / Sign up

Export Citation Format

Share Document