scholarly journals In Your Face(t)—Personality Traits Interact With Prototypical Personality Faces in Economic Decision Making

2021 ◽  
Vol 12 ◽  
Author(s):  
Martin Weiß ◽  
Marko Paelecke ◽  
Johannes Hewig
Keyword(s):  
Decision Making ◽  
Social Interactions ◽  
Ultimatum Game ◽  
Trust Game ◽  
Facial Features ◽  
Economic Decisions ◽  
Economic Decision Making ◽  
Dispositional Trust ◽  
Potential Interactions

In everyday life, assumptions about our peers' as well as our own personality shape social interactions. We investigated whether self-rated personality and inferences drawn from partners' faces influence economic decisions. Participants (N = 285) played the trust game in the role of the trustor as well as the ultimatum game in the role of the proposer and interacted with trustees and receivers represented by prototypical personality faces. Participants also evaluated both their own traits and the personality of the faces. In the trust game, trustees represented by faces rated higher on agreeableness yielded higher transferred amounts. This effect was more pronounced for trustors low on dispositional trust, whereas trustors high on dispositional trust did not relate their decisions to the faces. Trustees represented by faces rated higher on conscientiousness yielded higher transferred amounts only for trustors high on dispositional anxiety. In the ultimatum game, receivers represented by faces rated higher on conscientiousness yielded lower offers only for proposers high on dispositional assertiveness. These results extend previous findings on the inferences drawn from facial features and the influence of personality on decision making. They highlight the importance of considering the personality of both interaction partner, as well as potential interactions of players' traits.

scholarly journals Social Decision Making with Humans and Robots: Trust and Approachability Mediate Economic Decision Making

2018 ◽  
Author(s):  
Stephanie Tulk ◽  
Eva Wiese
Keyword(s):  
Decision Making ◽  
Ultimatum Game ◽  
Humanoid Robots ◽  
Trust Game ◽  
Social Decision ◽  
Economic Decisions ◽  
Economic Decision Making ◽  
Human Likeness ◽  
Social Decision Making

As humanoid robots become more advanced and commonplace, the average user may find themselves in the position of wondering if their robotic companion truly possesses a mind. It is important for scientists and designers to consider how this will likely affect our interactions with social robots. The current paper explores how social decision making with humanoid robots changes as the degree of their human-likeness changes. For that purpose, we created a spectrum of human-like agents via morphing that ranged from very robot-like to very human-like in physical appearance (in increments of 20%) and measured how this change in physical humanness affected decision-making in two economic games: Ultimatum Game (Experiment 1) and Trust Game (Experiment 2). We expected increases in human-like appearance to lead to a higher rate of punishment for unfair offers in the Ultimatum Game, and to a higher rate of trust in the Trust Game. While physical humanness did not have an impact on economic decisions in either of the experiments, follow-up analyses showed that both subjective ratings of trust and agent approachability mediated the effect of agent appearance on decision-making in both experiments. Possible consequences of these findings for human- robot interactions are discussed.

scholarly journals The Role of Emotions in Economic Decision Making

2019 ◽  
Author(s):  
Aslı Öztopçu
Keyword(s):  
Decision Making ◽  
Risk Taking ◽  
Economic Life ◽  
Decision Making Process ◽  
Individual Decision ◽  
Cognitive Error ◽  
Economic Decisions ◽  
Economic Decision Making ◽  
Individual Effects

Decision making points out to the consequences of past or future behaviors. An individual has to make decisions on all subjects throughout his life. An important part of these decisions are economic decisions. Individuals make decisions such as renting, buying, buying new goods, migrating, changing jobs, making investments, enterprise, choosing holidays, evaluating savings. Non-rational decisions are observed although individuals should make rational decision, according to mainstream economics. In this study, the effects of the emotions that form the basis of psychology, such as time, option constraint, opportunities, risk taking, risk aversion, procrastination, rush, or uncertainty, inconsistency, intuitive movement, cognitive error in the decision-making process of individuals are discussed. For this purpose, the characteristics of decision-making process, individual effects of cognitive of emotions, individual decision making theorems in economic theory and behavioral economics literature are mentioned. It is thought that the role of emotions that shape behaviors should be known in the regulation of economic life that is determined according to human behavior.

scholarly journals The Role of Cognitive and Emotional Perspective Taking in Economic Decision Making in the Ultimatum Game

PLoS ONE ◽  
2014 ◽  
Vol 9 (9) ◽  
pp. e108462 ◽  
Author(s):  
Haruto Takagishi ◽  
Michiko Koizumi ◽  
Takayuki Fujii ◽  
Joanna Schug ◽  
Shinya Kameshima ◽  
...  
Keyword(s):  
Decision Making ◽  
Perspective Taking ◽  
Ultimatum Game ◽  
Economic Decision ◽  
Economic Decision Making

scholarly journals Shall I Show My Emotions? The Effects of Facial Expressions in the Ultimatum Game

2021 ◽  
Vol 12 (1) ◽  
pp. 8
Author(s):  
Sara Ferracci ◽  
Felice Giuliani ◽  
Alfredo Brancucci ◽  
Davide Pietroni
Keyword(s):  
Decision Making ◽  
Social Interactions ◽  
Facial Expressions ◽  
Ultimatum Game ◽  
Economic Agents ◽  
The Past ◽  
Main Effect ◽  
Interpersonal Emotions ◽  
Decision Making Processes

Over the past fifteen years, research has demonstrated the central role of interpersonal emotions in communicating intentions, goals and desires. These emotions can be conveyed through facial expressions during specific social interactions, such as in the context of coordination between economic agents, where information inferred from them can influence certain decision-making processes. We investigated whether four facial expressions (happiness, neutral, angry and disgusted) can affect decision-making in the Ultimatum Game (UG). In this economic game, one player (proposer) plays the first move and proposes how to allocate a given amount of money in an anonymous one-shot interaction. If the other player (responder) accepts the proposal, each player receives the allocated amount of money; if he/she rejects the offer, both players receive nothing. During the task, participants acted as the responder (Experiment 1) or the proposer (Experiment 2) while seeing the opponent’s facial expression. For the responders, the results show that the decision was mainly driven by the fairness of the offer, with a small main effect of emotion. No interaction effect was found between emotion and offer. For the proposers, the results show that participants modulated their offers on the basis of the responders’ expressed emotions. The most generous/fair offers were proposed to happy responders. Less generous/fair offers were proposed to neutral responders. Finally, the least generous/fair offers were proposed to angry and disgusted responders.

Trust and Approachability Mediate Social Decision Making in Human-Robot Interaction

2018 ◽  
Vol 62 (1) ◽  
pp. 704-708
Author(s):  
Stephanie Tulk ◽  
Eva Wiese
Keyword(s):  
Decision Making ◽  
Ultimatum Game ◽  
Humanoid Robots ◽  
Human Robot Interaction ◽  
Trust Game ◽  
Social Decision ◽  
Economic Decisions ◽  
Social Decisions ◽  
Human Likeness ◽  
Social Decision Making

As humanoid robots become more advanced and commonplace, the average user may perceive their robotic companion as human-like entities that can make social decisions, such as the deliberate choice to act fairly or selfishly. It is important for scientists and designers to consider how this will affect our interactions with social robots. The current paper explores how social decision making with humanoid robots changes as the degree of their human-likeness changes. For that purpose, we created a spectrum of human-like agents via morphing that ranged from very robot-like to very human-like in physical appearance (i.e., in increments of 20%) and measured how this change in physical humanness affected decision-making in two economic games: the Ultimatum Game (Experiment 1) and Trust Game (Experiment 2). We expected increases in human-like appearance to lead to higher rates of punishment for unfair offers and higher ratings of trust in both games. While physical humanness did not have an impact on economic decisions in either of the ex-periments, follow-up analyses showed that both subjective ratings of trust and agent approachability medi-ated the effect of agent appearance on decision-making in both experiments. Possible consequences of these findings for human-robot interactions are discussed.

scholarly journals The Benefit of Gratitude: Trait Gratitude Is Associated With Effective Economic Decision-Making in the Ultimatum Game

2021 ◽  
Vol 12 ◽  
Author(s):  
Gewnhi Park ◽  
Charlotte vanOyen-Witvliet ◽  
Jorge A. Barraza ◽  
Benjamin U. Marsh
Keyword(s):  
Ultimatum Game ◽  
Relative Size ◽  
Economic Decision ◽  
Economic Decisions ◽  
Economic Decision Making ◽  
Different Types ◽  
Dispositional Gratitude ◽  
Typical Day ◽  
Trait Gratitude

The current research investigated the role of gratitude in economic decisions about offers that vary in fairness yet benefit both parties if accepted. Participants completed a trait/dispositional gratitude measure and then were randomly assigned to recall either an event that made them feel grateful (i.e., induced gratitude condition) or the events of a typical day (i.e., neutral condition). After the gratitude induction task, participants played the ultimatum game (UG), deciding whether to accept or reject fair offers (i.e., proposer: responder ratio $5:5) and unfair offers (i.e., proposer: responder ratios of $9:1, $8:2, or $7:3) from different proposers. Results showed that trait gratitude was positively correlated with respondents’ acceptance of unfair offers. However, experimentally induced momentary gratitude did not influence acceptance of unfair offers. The trait or disposition to be grateful involves the enduring capacity across different types of situations and benefactors to see the good that is present, even when that benefit is small. Accordingly, dispositional gratitude – but not momentarily induced gratitude – was associated with a greater propensity to accept even the small benefits within unfair offers which otherwise pose barriers to making the effective economic decision of accepting offers regardless of their relative size.

scholarly journals Reviewing Stranger on the Internet: The Role of Identifiability through “Reputation” in Online Decision Making

2021 ◽  
Vol 13 (5) ◽  
pp. 110
Author(s):  
Mirko Duradoni ◽  
Stefania Collodi ◽  
Serena Coppolino Perfumi ◽  
Andrea Guazzini
Keyword(s):  
Decision Making ◽  
Ultimatum Game ◽  
The Internet ◽  
Self Disclosure ◽  
Quantitative Evidence ◽  
Web Technologies ◽  
Social Acts ◽  
Good Reputation ◽  
The Stranger

The stranger on the Internet effect has been studied in relation to self-disclosure. Nonetheless, quantitative evidence about how people mentally represent and perceive strangers online is still missing. Given the dynamic development of web technologies, quantifying how much strangers can be considered suitable for pro-social acts such as self-disclosure appears fundamental for a whole series of phenomena ranging from privacy protection to fake news spreading. Using a modified and online version of the Ultimatum Game (UG), we quantified the mental representation of the stranger on the Internet effect and tested if people modify their behaviors according to the interactors’ identifiability (i.e., reputation). A total of 444 adolescents took part in a 2 × 2 design experiment where reputation was set active or not for the two traditional UG tasks. We discovered that, when matched with strangers, people donate the same amount of money as if the other has a good reputation. Moreover, reputation significantly affected the donation size, the acceptance rate and the feedback decision making as well.

scholarly journals Happiness and Time Preference: The Effect of Positive Affect in a Random-Assignment Experiment

2011 ◽  
Vol 101 (7) ◽  
pp. 3109-3129 ◽  
Author(s):  
John Ifcher ◽  
Homa Zarghamee
Keyword(s):  
Decision Making ◽  
Positive Affect ◽  
Time Preference ◽  
Random Assignment ◽  
Economic Decision ◽  
Economic Decision Making ◽  
Future Utility ◽  
Neutral Affect

We conduct a random-assignment experiment to investigate whether positive affect impacts time preference, where time preference denotes a preference for present over future utility. Our result indicates that, compared to neutral affect, mild positive affect significantly reduces time preference over money. This result is robust to various specification checks, and alternative interpretations of the result are considered. Our result has implications for the effect of happiness on time preference and the role of emotions in economic decision making, in general. Finally, we reconfirm the ubiquity of time preference and start to explore its determinants. (DJEL D12, D83, I31)

scholarly journals Chimpanzees (Pan troglodytes) Are More Averse to Social Than Nonsocial Risk

2018 ◽  
Vol 30 (1) ◽  
pp. 105-115 ◽  
Author(s):  
Sarah E. Calcutt ◽  
Darby Proctor ◽  
Sarah M. Berman ◽  
Frans B. M. de Waal
Keyword(s):  
Decision Making ◽  
Pan Troglodytes ◽  
Risk Taking ◽  
Trust Game ◽  
Risk Attitudes ◽  
Social Risk ◽  
Risky Decision ◽  
Emotional Factors ◽  
Economic Decision Making ◽  
Tit For Tat

Social risk is a domain of risk in which the costs, benefits, and uncertainty of an action depend on the behavior of another individual. Humans overvalue the costs of a socially risky decision when compared with that of purely economic risk. Here, we played a trust game with 8 female captive chimpanzees ( Pan troglodytes) to determine whether this bias exists in one of our closest living relatives. A correlation between an individual’s social- and nonsocial-risk attitudes indicated stable individual variation, yet the chimpanzees were more averse to social than nonsocial risk. This indicates differences between social and economic decision making and emotional factors in social risk taking. In another experiment using the same paradigm, subjects played with several partners with whom they had varying relationships. Preexisting relationships did not impact the subjects’ choices. Instead, the apes used a tit-for-tat strategy and were influenced by the outcome of early interactions with a partner.

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