Attitudes Toward Risk and Effort Tradeoffs in Human-Robot Heterogeneous Team Operations

2018 ◽  
Vol 62 (1) ◽  
pp. 1098-1102 ◽  
Author(s):  
B. S. Perelman ◽  
A. W. Evans ◽  
K. E. Schaefer ◽  
S. G. Hill
Keyword(s):  
Theoretical Framework ◽  
Risk Attitudes ◽  
Risk Averse ◽  
Team Composition ◽  
Human Agent ◽  
Teleoperated Robots

Current operational human-agent teaming paradigms place the full burden of danger on non-human agents. Shifting this burden entirely to the robot is currently possible due to the nature of the limited situations in which teleoperated robots are currently employed in military contexts. However, as the roles of non-human agents grow, robots are expected to function as teammates rather than tools. Here, we present a theoretical framework and metric for quantifying commanders’ attitudes toward risk and effort for humans and robots under their command. Twenty-one participants tasked a Soldier, a robot, and a heterogeneous team to rescue civilians in dangerous environments. Participants were risk averse when tasking each agent individually, but exhibited a risk averse attitude for the Soldier and an effort averse attitude for the robot when tasking the team. These findings show that risk attitudes can change as a function of team composition. The framework developed herein has utility for studying tradeoff attitudes across a wide breadth of contexts.

scholarly journals Evaluating Sensitivity of the Ranking of Forest Fuel Treatments to Manager’s Risk Attitudes and the Importance of Treatment Objectives, Montana, USA

2019 ◽  
Vol 2019 ◽  
pp. 1-12
Author(s):  
Tony Prato ◽  
Travis Paveglio
Keyword(s):  
Conceptual Framework ◽  
Utility Function ◽  
Risk Attitudes ◽  
Risk Averse ◽  
Fuel Treatment ◽  
Utility Values ◽  
Forest Fuel ◽  
Importance Ratings ◽  
Forested Areas

This study develops a conceptual framework for evaluating the sensitivity of the ranking of forest fuel treatment strategies (FTSs) to variation in managers’ risk attitudes and the importance ratings managers assign to fuel treatment objectives and demonstrates the application of the framework using a case study. The conceptual framework involves (1) defining a utility function on an index that is a weighted average of fuel treatment objectives and incorporates a manager’s risk attitude; (2) using the utility function to calculate utility values for FTSs; (3) applying the stochastic efficiency with respect to a function method to utility values to obtain certainty equivalents (CEs); and (4) ranking FTSs based on statistically significant differences in median CEs for pairs of FTSs. The case study involves three (federal, state, and private) forested areas in Flathead County, Montana, USA, three FTSs (i.e., Community Wildfire Protection Plan (CWPP) Priority; CWPP & Wildland-Urban Interface Priority; and No Priority), three treatment objectives (i.e., minimizing expected residential monetary losses from wildfire, minimizing expected deviation of forest ecological conditions from their historic range and variability, and maximizing expected net returns from timber harvesting associated with fuel treatment), two risk attitudes (i.e., almost risk neutral and highly risk averse), and 35 weight scenarios for treatment objectives. Case study results are used to test the hypothesis that the ranking of FTSs is sensitive to manager’s risk attitudes and the importance ratings for management objectives. The ranking of FTSs for the three forested areas was insensitive for an almost risk neutral manager and sensitive for a highly risk averse manager. In general, the case study indicates that the ranking of FTSs is sensitive to both a forest manager’s risk attitudes and the importance ratings assigned to fuel treatment objectives.

The Determinants of Risk Aversion: The Role of Intergenerational Transmission

2013 ◽  
Vol 14 (2) ◽  
pp. 214-234 ◽  
Author(s):  
Maria De Paola
Keyword(s):  
Risk Aversion ◽  
Intergenerational Transmission ◽  
Individual Characteristics ◽  
Risk Attitudes ◽  
Risk Averse ◽  
The Public ◽  
Measures Of Risk ◽  
High Ability Students ◽  
The Relationship

AbstractThis article studies the relationship between risk attitudes and individual characteristics focusing on the intergenerational transmission of risk preferences. We use a dataset of a sample of Italyn students which allows us to build different measures of risk aversion based, respectively, on a survey asking students about their willingness to invest in a risky asset and about their preferences for job security and on the results of an entry test using explicit penalty points in the case of incorrect answers. In line with the findings highlighted by the existing literature, we find that women are more risk averse than men, more patient subjects are more risk averse, while high-ability students are less risk averse. As far as intergenerational transmission of preferences is concerned, it emerges that students whose fathers are entrepreneurs have a higher propensity to take risks, while students whose fathers are employed in the public sector are more risk averse. Only fathers matter with regards to their children’s risk attitudes. These results are robust to different measures of risk aversion and to different specifications of our model.

scholarly journals Crowded out: Heterogeneity in risk attitudes among poor households in the US

2021 ◽  
Author(s):  
Arianna Galliera ◽  
E. Elisabet Rutström
Keyword(s):  
Risk Aversion ◽  
Field Experiments ◽  
Household Head ◽  
Negative Relationship ◽  
Household Size ◽  
Household Composition ◽  
Risk Attitudes ◽  
Risk Averse ◽  
Data Set ◽  
Poor Households

AbstractNot much is known about the heterogeneity of risk attitudes among poor households in rich countries. This paper provides estimates from a unique data set collected among the urban poor in Atlanta, Georgia. The data set includes lab-in-the-field experiments on the relationship between risk attitudes and several household characteristics. Apart from looking at income, wealth, and education, we are particularly interested in household composition as it captures the number and kind of people who are dependant on the income of the household head. Heads of households who are less risk averse may be willing to take on the extra risk from smaller resource margins resulting from additional dependants, implying a negative relationship between household size and risk aversion. However, if the size of the household is a result of exogenous forces some heads of households may become more risk averse with more dependants. Household size can also reflect a risk management choice that involves adding non-dependant members who can provide resources and risk sharing. However, this possibility is limited to homes that are not already too crowded. We find that household size correlates positively with the risk aversion of the head, but with a large proportion of children the correlation is strongly dampened. However, this negative effect of children is conditional on the home not already being crowded. These heterogeneous findings have implications for the design of new insurance, savings, and credit programs where risk attitudes are important to the decisions to adopt.

Pesticide Use and Risk Aversion in the French Wine Sector

2018 ◽  
Vol 13 (4) ◽  
pp. 451-460 ◽  
Author(s):  
Joël Aka ◽  
Adeline Alonso Ugaglia ◽  
Jean-Marie Lescot
Keyword(s):  
Risk Aversion ◽  
Maximum Yield ◽  
The Other ◽  
Risk Attitudes ◽  
Pesticide Use ◽  
Risk Averse ◽  
Network Database ◽  
Farm Accountancy Data Network ◽  
Wine Sector ◽  
Jel Classifications

AbstractThis paper studies the risk attitudes of winegrowers in France. In French viticulture, most of the production is done under an appellation regime that constrains maximum authorized yields. We consider a trans-log cost function under the constraint of this maximum yield and estimate winegrowers' attitudes to risk. Our estimates are based on the European Farm Accountancy Data Network database (2005–2014) and data from the French National Institute of Origin and Quality. We find that winegrowers are risk averse. For the majority of winegrowers, risk aversion is declining with expected profit. In the Champagne region, however, where expected profits are far higher than in the other regions, we observe the reverse relation: winegrowers become more risk averse as expected profits rise. (JEL Classifications: C13, C33, O33, Q16).

Let's Think Together! Assessing Shared Mental Models, Performance, and Trust in Human-Agent Teams

2022 ◽  
Vol 6 (GROUP) ◽  
pp. 1-29
Author(s):  
Beau G. Schelble ◽  
Christopher Flathmann ◽  
Nathan J. McNeese ◽  
Guo Freeman ◽  
Rohit Mallick
Keyword(s):  
Mental Model ◽  
Cooperative Work ◽  
Computer Supported Cooperative Work ◽  
Team Composition ◽  
Team Cognition ◽  
Human Agent ◽  
Unique Nature ◽  
Agent Teams ◽  
Team Mental Model ◽  
The Impact

An emerging research agenda in Computer-Supported Cooperative Work focuses on human-agent teaming and AI agent's roles and effects in modern teamwork. In particular, one understudied key question centers around the construct of team cognition within human-agent teams. This study explores the unique nature of team dynamics in human-agent teams compared to human-human teams and the impact of team composition on perceived team cognition, team performance, and trust. In doing so, a mixed-method approach, including three team composition conditions (all human, human-human-agent, human-agent-agent), completed the team simulation NeoCITIES and completed shared mental model, trust, and perception measures. Results found that human-agent teams are similar to human-only teams in the iterative development of team cognition and the importance of communication to accelerating its development; however, human-agent teams are different in that action-related communication and explicitly shared goals are beneficial to developing team cognition. Additionally, human-agent teams trusted agent teammates less when working with only agents and no other humans, perceived less team cognition with agent teammates than human ones, and had significantly inconsistent levels of team mental model similarity when compared to human-only teams. This study contributes to Computer-Supported Cooperative Work in three significant ways: 1) advancing the existing research on human-agent teaming by shedding light on the relationship between humans and agents operating in collaborative environments, 2) characterizing team cognition development in human-agent teams; and 3) advancing real-world design recommendations that promote human-centered teaming agents and better integrate the two.

The pricing strategy of dual-channel supply chain with risk-averse agents and heterogeneous preference consumers

Kybernetes ◽  
2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Rufeng Wang ◽  
Zhiyong Chang ◽  
Shuli Yan
Keyword(s):  
Supply Chain ◽  
Risk Control ◽  
Optimal Strategies ◽  
Risk Attitude ◽  
Risk Attitudes ◽  
Risk Averse ◽  
Content Type ◽  
Dual Channel ◽  
Heterogeneous Preference ◽  
Dual Channel Supply Chain

PurposeThe purpose of this paper is to investigate the pricing strategy and the impact of agents' risk preference in a dual-channel supply chain in which both agents are risk-averse.Design/methodology/approachThe authors make use of the mean-variance (MV) method to measure the risk aversion of the agents and apply Stackelberg game to obtain the optimal strategies of the proposed models. Furthermore, the authors compare the optimal strategies with that in the benchmark model in which no agent is risk-averse.FindingsThe authors find that the pricing decisions can be divided into four categories according to the risk attitudes of the agents: the decisions that are independent of two agents' risk attitudes, the decisions that depend on only one agent’s risk attitude (i.e. depend on only manufacturer's risk attitude and depend on only retailer's risk attitude) and the decisions that depend on both agents' risk attitudes. In addition, the authors find that the retail price will be lower and the wholesale price in most cases will be lower than that in the benchmark when at least one agent's risk control is effective; the demand will be always increasing as long as one agent's risk control is effective. Furthermore, compared to the benchmark, a win-win strategy (i.e. Pareto improvement) for the supply chain members can be obtained in a certain range where the agents' risk controls are appropriate.Originality/valueThis research provides a theoretical reference for the managers to make the pricing decisions and the risk control in dual-channel supply chains with heterogeneous preference consumers.

Risk attitudes in risk-based design: Considering risk attitude using utility theory in risk-based design

2012 ◽  
Vol 26 (4) ◽  
pp. 393-406 ◽  
Author(s):  
Douglas Van Bossuyt ◽  
Chris Hoyle ◽  
Irem Y. Tumer ◽  
Andy Dong
Keyword(s):  
Collaborative Design ◽  
Failure Modes ◽  
Expected Value ◽  
Utility Functions ◽  
Risk Attitudes ◽  
Risk Averse ◽  
Domain Specific ◽  
Industrial Sectors ◽  
Specific Risk ◽  
Risk Appetite

AbstractEngineering risk methods and tools account for and make decisions about risk using an expected-value approach. Psychological research has shown that stakeholders and decision makers hold domain-specific risk attitudes that often vary between individuals and between enterprises. Moreover, certain companies and industries (e.g., the nuclear power industry and aerospace corporations) are very risk-averse whereas other organizations and industrial sectors (e.g., IDEO, located in the innovation and design sector) are risk tolerant and actually thrive by making risky decisions. Engineering risk methods such as failure modes and effects analysis, fault tree analysis, and others are not equipped to help stakeholders make decisions under risk-tolerant or risk-averse decision-making conditions. This article presents a novel method for translating engineering risk data from the expected-value domain into a risk appetite corrected domain using utility functions derived from the psychometric Engineering Domain-Specific Risk-Taking test results under a single-criterion decision-based design approach. The method is aspirational rather than predictive in nature through the use of a psychometric test rather than lottery methods to generate utility functions. Using this method, decisions can be made based upon risk appetite corrected risk data. We discuss development and application of the method based upon a simplified space mission design in a collaborative design-center environment. The method is shown to change risk-based decisions in certain situations where a risk-averse or risk-tolerant decision maker would likely choose differently than the expected-value approach dictates.

Toward Considering Risk Attitudes in Engineering Organizations Using Utility Theory

2012 ◽  
Author(s):  
Douglas Van Bossuyt ◽  
Chris Hoyle ◽  
Irem Y. Tumer ◽  
Andy Dong ◽  
Toni Doolen ◽  
...  
Keyword(s):  
Decision Making ◽  
Risk Attitude ◽  
Expected Value ◽  
Utility Functions ◽  
Risk Attitudes ◽  
Risk Averse ◽  
Past Performance ◽  
Domain Specific ◽  
Specific Risk ◽  
Engineering Organizations

Design projects within large engineering organizations involve numerous uncertainties that can lead to unacceptably high levels of risk. Practicing designers recognize the existence of risk and commonly are aware of events that raise risk levels. However, a disconnect exists between past project performance and current project execution that limits decision-making. This disconnect is primarily due to a lack of quantitative models that can be used for rational decision-making. Methods and tools used to make decisions in risk-informed design generally use an expected value approach. Research in the psychology domain has shown that decision-makers and stakeholders have domain-specific risk attitudes that often have variations between individuals and between companies. Risk methods used in engineering such as Failure Modes and Effects Analysis (FMEA), Fault Tree Analysis (FTA), and others are often ill-equipped to help stakeholders make decisions based upon risk-tolerant or risk-averse decision-making conditions. This paper focuses on the specific issue of helping stakeholders make decisions under risk-tolerant or risk-averse decision-making conditions and presents a novel method of translating engineering risk data from the domain of expected value into a domain corrected for risk attitude. This is done by using risk utility functions derived from the Engineering-Domain-Specific Risk-Taking (E-DOSPERT) test. This method allows decisions to be made based upon data that is risk attitude corrected. Further, the method uses an aspirational measure of risk attitude as opposed to existing lottery methods of generating utility functions that are based upon past performance. An illustrative test case using a simplified space mission designed in a collaborative design center environment is included. The method is shown to change risk-informed decisions in certain situations where a risk-tolerant or risk-averse decision-maker would likely choose differently than the dictates of the expected value approach.

scholarly journals Risk and Site Factors Affecting Potential Nitrogen Delivery in the Virginia Coastal Plain

2001 ◽  
Vol 33 (1) ◽  
pp. 173-188 ◽  
Author(s):  
Wei Peng ◽  
Darrell J. Bosch
Keyword(s):  
Surface Water ◽  
Risk Aversion ◽  
Coastal Plain ◽  
Stochastic Dominance ◽  
Risk Attitudes ◽  
Risk Averse ◽  
Site Factors ◽  
Factors Affecting ◽  
Fertilizer Recommendations ◽  
Different Levels

AbstractThe effects of cropland slope, distance to surface water, farmers' risk attitudes, and farmers' nitrogen (N) fertilizer applications on potential N delivery to streams and costs of reducing N delivery were evaluated for a representative Virginia peanut-cotton farm. Target MOTAD and generalized stochastic dominance were used to select preferred plans for different levels of risk aversion. Costs of reducing N delivery were lower on farms where fields were located close to surface water, where N was overapplied relative to extension fertilizer recommendations, and where the operator was risk averse. Cropland slope had less effect on cost of reducing N delivery relative to other factors.

scholarly journals How Risk Attitudes Affect the Implementation of Good Agricultural Practices in Sugarcane Farming

Agro Ekonomi ◽  
2019 ◽  
Vol 30 (2) ◽  
Author(s):  
Annisa Fauzia Astari ◽  
Irham Irham ◽  
Arini Wahyu Utami
Keyword(s):  
Agricultural Practices ◽  
Risk Attitude ◽  
Likert Scale ◽  
T Test ◽  
Risk Attitudes ◽  
Risk Averse ◽  
Good Agricultural Practices ◽  
Ols Regression ◽  
Labor Welfare ◽  
Implementation Level

Indonesian Ministry of Agriculture issued Minister of Agriculture Regulations Number 53 in 2015 about Good Agricultural Practices for Sugarcane as an effort to increase production and productivity of sugarcane. The implementation of GAP on various commodities was differ since risk across commodities and risk attitude among farmers are varied. Hence, this study aims to analyze (1) the implementation level of Sugarcane GAP among farmers of the Wonolangan Sugar factory and (2) the influence of risk attitudes toward GAP implementation. The study was conducted on 102 randomly-selected farmers in Lumajang and Probolinggo Regency. The level of GAP implementation is measured by Likert scale with nine indicators of Sugarcane GAP. The level of GAP implementation is categorized into low, medium, and high based on the total score of GAP implementation obtained from each farmer. One-sample t-test is used to test the implementation level of GAP. Risk attitudes are measured with a Likert scale, as refers to Pennings and Garcia method. The influence of risk attitudes towards GAP implementation is analyzed using OLS regression. The result of t-test shows that the level of GAP implementation among sugarcane farmers is medium and high, and most farmers are risk-averse. Of the nine components used as indicators, seed preparation and labor welfare are in the medium category. Based on the OLS regression, risk-taker farmers have a lower GAP implementation than that of risk-averse farmers. Farmers' lack of knowledge about GAP guidelines, can be supported by the presence of socialization activities by sugar factories, extension workers, and related institutions.

Sign in / Sign up

Export Citation Format

Share Document