scholarly journals Virtual bargaining: a theory of social decision-making

2014 ◽  
Vol 369 (1655) ◽  
pp. 20130487 ◽  
Author(s):  
Jennifer B. Misyak ◽  
Nick Chater
Keyword(s):  
Decision Making ◽  
Essential Element ◽  
Social Contexts ◽  
Future Research ◽  
Research Directions ◽  
Social Decision ◽  
Future Research Directions ◽  
Empirical Tests ◽  
Social Decision Making ◽  
Vast Range

An essential element of goal-directed decision-making in social contexts is that agents' actions may be mutually interdependent. However, the most well-developed approaches to such strategic interactions, based on the Nash equilibrium concept in game theory, are sometimes too broad and at other times ‘overlook’ good solutions to fundamental social dilemmas and coordination problems. The authors propose a new theory of social decision-making—virtual bargaining—in which individuals decide among a set of moves on the basis of what they would agree to do if they could openly bargain. The core principles of a formal account are outlined (vis-à-vis the notions of ‘feasible agreement’ and explicit negotiation) and further illustrated with the introduction of a new game, dubbed the ‘Boobytrap game’ (a modification on the canonical Prisoner's Dilemma paradigm). In the first empirical data of how individuals play the Boobytrap game, participants' experimental choices accord well with a virtual bargaining perspective, but do not match predictions from a standard Nash account. Alternative frameworks are discussed, with specific empirical tests between these and virtual bargaining identified as future research directions. Lastly, it is proposed that virtual bargaining underpins a vast range of human activities, from social decision-making to joint action and communication.

Central Language Hypothesis in the Decision-Making Process

2016 ◽  
pp. 66-83 ◽  
Author(s):  
Duygu Buğa
Keyword(s):  
Decision Making ◽  
Theoretical Framework ◽  
Future Research ◽  
Limbic Cortex ◽  
Decision Making Process ◽  
Discussion Section ◽  
Research Directions ◽  
Additional Information ◽  
Future Research Directions ◽  
The Brain

The purpose of this chapter is to explore the potential connection between neuroeconomics and the Central Language Hypothesis (CLH) which refers to the language placed within the subconscious mind of an individual. The CLH forwards that in the brains of bilingual and multilingual people, one language is more suppressive as it dominates reflexes, emotions, and senses. This central language (CL) is located at the centre of the limbic cortex of the brain. Therefore, when there is a stimulus on the limbic cortex (e.g., fear, anxiety, sadness), the brain produces the central language. The chapter begins with an Introduction followed by a Theoretical Framework. The next section discusses the neurolinguistic projection of the central language and includes the survey and the results used in this study. The Discussion section provides additional information regarding the questionnaire and the CLH, followed by Future Research Directions, Implications, and finally the Conclusion.

Decision Making Under Uncertainty and Risks in the Face of Rapidly Advancing Technologies

2019 ◽  
pp. 38-56
Author(s):  
Vicente González-Prida Díaz ◽  
Jesus Pedro Zamora Bonilla ◽  
Pablo Viveros Gunckel
Keyword(s):  
Decision Making ◽  
Social Perception ◽  
Industry 4.0 ◽  
Future Research ◽  
Risk And Uncertainty ◽  
Research Directions ◽  
The Face ◽  
Future Research Directions ◽  
Key Aspects ◽  
Reduction Of Uncertainty

This chapter aims to consider the effects of the new concept Industry 4.0 on decision making, particularly on the reduction of uncertainty and the risk associated with any choice between alternatives. For this purpose, this chapter begins by dealing with the concepts of risk and uncertainty and their epistemological evolution. After observing certain trends and recent studies in this regard, the authors address a more philosophical perception of risk, mainly on aspects related to engineering and social perception. The concept of human reliability will also be reviewed and how it can be improved with the application of emerging technologies, considering some methodological proposals to improve the decision making. After that, some of the possible future research directions will be briefly discussed. Finally, the chapter concludes by highlighting key aspects of the chapter as a context for other chapters in the book.

scholarly journals Discriminated by an algorithm: a systematic review of discrimination and fairness by algorithmic decision-making in the context of HR recruitment and HR development

2020 ◽  
Vol 13 (3) ◽  
pp. 795-848
Author(s):  
Alina Köchling ◽  
Marius Claus Wehner
Keyword(s):  
Systematic Review ◽  
Decision Making ◽  
Current Knowledge ◽  
Future Research ◽  
Journal Articles ◽  
Research Directions ◽  
Current State ◽  
Management Context ◽  
Future Research Directions ◽  
State Of Research

AbstractAlgorithmic decision-making is becoming increasingly common as a new source of advice in HR recruitment and HR development. While firms implement algorithmic decision-making to save costs as well as increase efficiency and objectivity, algorithmic decision-making might also lead to the unfair treatment of certain groups of people, implicit discrimination, and perceived unfairness. Current knowledge about the threats of unfairness and (implicit) discrimination by algorithmic decision-making is mostly unexplored in the human resource management context. Our goal is to clarify the current state of research related to HR recruitment and HR development, identify research gaps, and provide crucial future research directions. Based on a systematic review of 36 journal articles from 2014 to 2020, we present some applications of algorithmic decision-making and evaluate the possible pitfalls in these two essential HR functions. In doing this, we inform researchers and practitioners, offer important theoretical and practical implications, and suggest fruitful avenues for future research.

Auditing Fair Value Measurements: A Synthesis of Relevant Research

2006 ◽  
Vol 20 (3) ◽  
pp. 287-303 ◽  
Author(s):  
Roger D. Martin ◽  
Jay S. Rich ◽  
T. Jeffrey Wilks
Keyword(s):  
Decision Making ◽  
Fair Value ◽  
Two Dimensions ◽  
Judgment And Decision Making ◽  
Future Research ◽  
Relevant Research ◽  
Research Directions ◽  
Academic Literature ◽  
Future Research Directions ◽  
Fair Value Measurements

To contribute to the PCAOB project on auditing fair value measurements (FVMs), we synthesize relevant academic literature to offer insights, conclusions, and future research directions for auditors, standard-setters, and academics focusing on auditing FVMs. We structure our synthesis along two dimensions: (1) an emphasis on the auditor's need to understand how FVMs are prepared, and (2) the audit steps and procedures necessary to verify and attest to FVMs, including an awareness of the potential biases inherent in auditing FVMs. Drawing primarily from the judgment and decision-making literature, we highlight a number of potential biases and limitations in the preparation and audit of FVMs. Additionally, we note that the specialized valuation knowledge necessary to effectively audit FVMs will be difficult for auditors to gain and maintain.

Applying Info-Gap Theory to Remanufacturing Process Selection Affected by Severe Uncertainty

2007 ◽  
Author(s):  
Scott J. Duncan ◽  
Christiaan J. J. Paredis ◽  
Bert Bras
Keyword(s):  
Decision Making ◽  
Critical Level ◽  
Future Research ◽  
Decision Strategy ◽  
Process Selection ◽  
Research Directions ◽  
Information Gap ◽  
Future Research Directions ◽  
Severe Uncertainty ◽  
Design Scenario

In this article, Information-Gap Decision Theory (IGDT), an approach to robust decision making under severe uncertainty, is applied to decisions about a remanufacturing process. IGDT is useful when only a nominal estimate is available for an uncertain quantity; the amount that estimate differs from the quantity’s actual value is not known. The decision strategy in IGDT involves maximizing robustness to uncertainty of unknown size, while still guaranteeing no worse than some “good enough” critical level of performance, rather than optimal performance. The design scenario presented involves selecting the types of technologies and number of stations to be used in a remanufacturing process. The profitability of the process is affected by severe uncertainty in the demand for remanufactured parts. Because nothing is know about demand except an estimate based on a different product from a previous year, info-gap theory will be used to determine an appropriate tradeoff between performance and robustness to severe uncertainty. Which design is most preferred is seen to switch depending on choice of critical performance level. Implications of findings, as well as future research directions, are discussed.

scholarly journals On Language Processing Shaping Decision Making

2017 ◽  
Vol 26 (2) ◽  
pp. 146-151 ◽  
Author(s):  
Albert Costa ◽  
Marc–Lluís Vives ◽  
Joanna D. Corey
Keyword(s):  
Decision Making ◽  
Foreign Language ◽  
Language Processing ◽  
Native Language ◽  
Dual System ◽  
Future Research ◽  
Research Directions ◽  
Decision Making Processes ◽  
Future Research Directions ◽  
The Impact

Recent research has revealed that people’s preferences, choices, and judgments are affected by whether information is presented in a foreign or a native language. Here, we review this evidence, focusing on various decision-making domains and advancing a variety of potential explanations for this foreign-language effect on decision making. We interpret the findings in the context of dual-system theories of decision making, entertaining the possibility that foreign-language processing reduces the impact of intuition and/or increases the impact of deliberation on people’s choices. In closing, we suggest future research directions for progressing our understanding of how language and decision-making processes interact when guiding people’s decisions.

The Policy Implications of Research on Fingerprint Examination Tasks

2015 ◽  
Vol 2 (1) ◽  
pp. 166-174
Author(s):  
Brandi Emerick ◽  
John Vanderkolk ◽  
Thomas Busey
Keyword(s):  
Decision Making ◽  
Working Memory ◽  
Eye Gaze ◽  
Policy Implications ◽  
Configural Processing ◽  
Future Research ◽  
Research Directions ◽  
Future Research Directions ◽  
Identification Decision

Most fingerprint comparisons are still done by human examiners, who examine two impressions to determine the amount of perceived detail in agreement. Examiners must rely on their training and experience to determine whether the quality and quantity of detail in agreement is sufficient to warrant an identification decision, which makes their perceptual and decision-making abilities central to our understanding of the strength of fingerprint evidence. Research on latent print examiners has documented the influence of configural processing, greater working memory, and greater consistency of eye gaze among experts relative to novices. All of these lead to universally higher accuracy relative to novices. However, examiners must contend with fatigue and the problem of non-mated prints that are somewhat similar in appearance. Surprisingly, this problem only gets worse as databases increase in size. Currently, the field contends with a relatively high number of erroneous exclusions and inconclusive decisions, which may allow a potentially guilty suspect to remain free from charges. We discuss policy implications that follow directly from the research and suggest future research directions that address unresolved issues.

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