Influences of Personal Experience in Decision-Making

2017 ◽  
pp. 76-97 ◽  
Author(s):  
Thais Spiegel
Keyword(s):  
Decision Making ◽  
Cognitive Processing ◽  
Decision Process ◽  
Human Cognition ◽  
Individual Experience ◽  
Systematic Revision ◽  
Cognitive Sciences ◽  
The Individual ◽  
State Of Art

Among the aspects that conform the human cognition and therefore, the behavior observed in the choices, there is the individual experience. Researches point the experience performing either positive as negative roles in the process of decision-making. Motivated by the question, What is the role of the experience in the decision-making? this text sought to check in which way the state of art and the technique of Cognitive Sciences could contribute with the better understanding of the cognitive processing in the context of decision-making. It was adopted as a start the roles' structured exposition of the cognition elements during the decision process, as Spiegel's (2014) proposal. It was investigated through a systematic revision of the literature, the impacts of the decision-maker's experience in the manifestation of attention, categorization, memory and emotion. As a result, 17 inferences that present which is the role of the experience in the decision-making, and deeply, which are the implications of the experience in the cognitive process of the decision-maker, are presented.

Big Data Myth

2019 ◽  
pp. 223-237
Author(s):  
Agata Mardosz-Grabowska
Keyword(s):  
Decision Making ◽  
Big Data ◽  
Data Analysis ◽  
Qualitative Data ◽  
New Technologies ◽  
Marketing Management ◽  
Individual Experience ◽  
Decision Making Process

Organizations are expected to act rationally; however, mythical thinking is often present among their members. It refers also to myths related to technology. New inventions and technologies are often mythologized in organizations. People do not understand how new technologies work and usually overestimate their possibilities. Also, myths are useful in dealing with ambivalent feelings, such as fears and hopes. The text focuses on the so-called “big data myth” and its impact on the decision-making process in modern marketing management. Mythical thinking related to big data in organizations has been observed both by scholars and practitioners. The aim of the chapter is to discuss the foundation of the myth, its components, and its impact on the decision-making process. Among others, a presence of a “big data myth” may be manifested by over-reliance on data, neglecting biases in the process of data analysis, and undermining the role of other factors, including intuition and individual experience of marketing professionals or qualitative data.

Introduction

2021 ◽  
pp. 1-19
Author(s):  
Wayne E. Lee ◽  
David L. Preston ◽  
David Silbey ◽  
Anthony E. Carlson
Keyword(s):  
Colonial Period ◽  
Individual Experience ◽  
Irregular Warfare ◽  
The Individual ◽  
Two Sides

Introduces the problem of intercultural combat and how it changes the individual experience of battle. It also defines the partly overlapping categories of asymmetrical, unconventional, or irregular warfare. Intercultural warfare is a clash of mindsets as much as weapons. Intercultural combat defies expectations, and frequently presents a problem in sustaining a winning strategic narrative, since the two sides’ definitions of victory differ. This introduction sets the stage with a brief look at the colonial period and the role of Indians as “unexpected enemies.” In general Americans have always thought about war as likely to be against someone culturally similar. In reality, most American wars have been against cultural “others.”

Review of Family Financial Decision Making: Suggestions for Future Research and Implications for Financial Education

2017 ◽  
Vol 28 (2) ◽  
pp. 253-267 ◽  
Author(s):  
Jinhee Kim ◽  
Michael S. Gutter ◽  
Taylor Spangler
Keyword(s):  
Decision Making ◽  
Decision Process ◽  
Family System ◽  
Financial Education ◽  
Future Research ◽  
Financial Decisions ◽  
Individual Level ◽  
Financial Decision Making ◽  
Financial Decision ◽  
The Individual

This article reviews the theories and literature in intrahousehold financial decisions, spousal partners and financial decision making, family system and financial decision process, children, and financial decisions. The article draws conclusions from the literature review and discusses directions for future research and educational programs. Most financial education and counseling takes place at the individual level, whereas financial decisions take place at household and intrahousehold levels. Family members, spouses/partners, children, and others play a key role in individuals’ financial decisions. The article proposes the key programmatic implications for financial professionals and educators that need to be integrated into financial education and counseling. Understanding the unique dynamics of family financial decision making would help create effective educational and counseling strategies for the whole families.

Corruption: ‘Culture’ in the Dock

2017 ◽  
Vol 23 (1) ◽  
pp. 21-26 ◽  
Author(s):  
Vineet Sahu
Keyword(s):  
Decision Making ◽  
Public Life ◽  
Careful Consideration ◽  
Individual Agent ◽  
Individual Agency ◽  
Holistic Perspective ◽  
Cultural Milieu ◽  
The Individual

Corruption in public life1 needs to be examined in greater detail as not only an individual lapse but also a feature of the collective that either does or does not put pressure on the individual to lapse. This paper takes a methodological holistic perspective exceeding the methodological individualistic perspective in understanding corruption. The claim is that the locus of responsibility cannot be restricted to the individual alone and the collective (if there be such an entity) be left scot-free. This claim is premised on the conception that an individual’s act which is in deviation of expected and established norms cannot be faulted only at the level of the individual, and careful consideration needs to be made to assess the role of the collective in precipitating the lapse(s) in the actions of the individual. This paper argues for sharing the liability of corruption in public life between the legally responsible individual as agent and the cultural milieu in which the agent operates. At a foundational level this paper calls for a reconceptualization of individual agency and decision making from being isolated and discrete, to being construed by the collective that the individual agent is a part of.

Optimization of Decision Making in Multilayer Networks: The Role of Locus Coeruleus

2008 ◽  
Vol 20 (12) ◽  
pp. 2863-2894 ◽  
Author(s):  
Eric Shea-Brown ◽  
Mark S. Gilzenrat ◽  
Jonathan D. Cohen
Keyword(s):  
Decision Making ◽  
Decision Process ◽  
Single Layer ◽  
Theoretical Work ◽  
Layer Model ◽  
Multilayer Networks ◽  
Reward Rate ◽  
Threshold Crossing ◽  
Single Layer Model

Previous theoretical work has shown that a single-layer neural network can implement the optimal decision process for simple, two-alternative forced-choice (2AFC) tasks. However, it is likely that the mammalian brain comprises multilayer networks, raising the question of whether and how optimal performance can be approximated in such an architecture. Here, we present theoretical work suggesting that the noradrenergic nucleus locus coeruleus (LC) may help optimize 2AFC decision making in the brain. This is based on the observations that neurons of the LC selectively fire following the presentation of salient stimuli in decision tasks and that the corresponding release of norepinephrine can transiently increase the responsivity, or gain, of cortical processing units. We describe computational simulations that investigate the role of such gain changes in optimizing performance of 2AFC decision making. In the tasks we model, no prior cueing or knowledge of stimulus onset time is assumed. Performance is assessed in terms of the rate of correct responses over time (the reward rate). We first present the results of a single-layer model that accumulates (integrates) sensory input and implements the decision process as a threshold crossing. Gain transients, representing the modulatory effect of the LC, are driven by separate threshold crossings in this layer. We optimize over all free parameters to determine the maximum reward rate achievable by this model and compare it to the maximum reward rate when gain is held fixed. We find that the dynamic gain mechanism yields no improvement in reward for this single-layer model. We then examine a two-layer model, in which competing sensory accumulators in the first layer (capable of implementing the task relevant decision) pass activity to response accumulators in a second layer. Again, we compare a version in which threshold crossing in the first (decision) layer elicits an LC response (and a concomitant increase in gain) with a fixed-gain version of the model. Here, we find that gain transients modeling the LC phasic response yield an improvement in reward rate of 12% to 24%. Furthermore, we show that the timing characteristics of these gain transients agree with observations concerning LC firing patterns reported in recent experimental studies. This provides converging evidence for the hypothesis that the LC optimizes processes underlying 2AFC decision making in multilayer networks.

scholarly journals Individuals with ventromedial frontal damage have more unstable but still fundamentally transitive preferences

2018 ◽  
Author(s):  
Linda Q. Yu ◽  
Jason Dana ◽  
Joseph W. Kable
Keyword(s):  
Decision Making ◽  
Decision Maker ◽  
Decision Process ◽  
Healthy Controls ◽  
Rational Decision ◽  
Rational Choices ◽  
The Brain ◽  
Intransitive Preferences ◽  
Rational Decisions

AbstractThough the ventromedial frontal lobes (VMF) are clearly important for decision-making, the precise causal role of the VMF in the decision process has still not yet fully been established. Previous studies have suggested that individuals with VMF damage violate a hallmark axiom of rational decisions by having intransitive preferences (i.e., preferring A to B, B to C, but C to A), as these individuals are more likely to make cyclical choices (i.e., choosing C over A after previously choosing A over B and B over C). However, these prior studies cannot properly distinguish between two possibilities regarding effects of VMF damage: are individuals with VMF damage prone to choosing irrationally, or are their preferences simply more variable? We had individuals with focal VMF damage, individuals with other frontal damage, and healthy controls make repeated choices across three categories – artwork, chocolate bar brands, and gambles. Using sophisticated tests of transitivity, we find that, without exception, individuals with VMF damage made rational decisions consistent with transitive preferences, even though they more frequently exhibit choice cycles due to a greater variability in their preferences across time. That is, the VMF is necessary for having strong and reliable preferences across time and context, but not for being a rational decision maker. We conclude that VMF damage affects the noisiness with which value is assessed, but not the consistency with which value is sought.Significance statementThe VMF is a part of the brain that is thought to be one of the most important for preference-based choice. Despite this, whether it is needed to make rational choices at all is unknown. Previous studies have not discriminated between different possibilities regarding the critical necessary role that the VMF plays in value-based choice. Our study shows that individuals with VMF damage still make rational decisions consistent with what they prefer, but their choices are more variable and less reliable. That is, the VMF is important for the noisiness with which value is assessed, but not the consistency with which value is sought. This result has widespread implications for rethinking the role of VMF in decision-making.

scholarly journals Imaginary politics: Climate change and making the future

Elem Sci Anth ◽  
2017 ◽  
Vol 5 ◽  
Author(s):  
Manjana Milkoreit
Keyword(s):  
Climate Change ◽  
Decision Making ◽  
Science Fiction ◽  
Motivation For Change ◽  
Green Earth ◽  
Collective Imagination ◽  
Climate Fiction ◽  
The Individual ◽  
Power And Agency

Climate change places major transformational demands on modern societies. Transformations require the capacity to collectively envision and meaningfully debate realistic and desirable futures. Without such a collective imagination capacity and active deliberation processes, societies lack both the motivation for change and guidance for decision-making in a certain direction of change. Recent arguments that science fiction can play a role in societal transformation processes is not yet supported by theory or empirical evidence. Advancing the argument that fiction can support sustainability transformations, this paper makes four contributions. First, building on the imaginary concept, I introduce and define the idea of socio-climatic imaginaries. Second, I develop a theory of imagination as linked cognitive-social processes that enable the creation of collectively shared visions of future states of the world. This theory addresses the dynamics that bridge imagination processes in the individual mind and collective imagining that informs social and political decision-making. Third, emphasizing the political nature of creating and contesting imaginaries in a society, I introduce the role of power and agency in this theory of collective imagination. I argue that both ideational and structural power concepts are relevant for understanding the potential societal influence of climate fiction. Finally, the paper illuminates these different forms of transformational power and agency with two brief case studies: two climate fiction novels. I contrast a dystopian and utopian science fiction novel – Paolo Bacigalupi’s The Water Knife (2015) and Kim Stanley Robinson’s Green Earth (2015). The two books are very similar in their power/agency profile, but the comparison provides initial insights into the different roles of optimistic and pessimistic future visions.

Understanding Decision Making in the Adoption of Digital Health Technology: The Role of Behavioural Economics’ Prospect Theory (Preprint)

2021 ◽  
Author(s):  
Waqas Ullah Khan ◽  
Aviv Shachak ◽  
Emily Seto
Keyword(s):  
Decision Making ◽  
Prospect Theory ◽  
Digital Health ◽  
Health Technology ◽  
Behavioural Economics ◽  
Individual Level ◽  
Health Technologies ◽  
Research Article ◽  
The Individual

UNSTRUCTURED The decision to accept or reject new digital health technologies remains an ongoing discussion. Over the past few decades, interest in understanding the choice to adopt technology has led to the development of numerous theories and models. In 1979, however, psychologists Kahneman and Tversky published their seminal research article that has pioneered the field of behavioural economics. They named their model the “prospect theory” and used it to explain decision making behaviours under conditions of risk and uncertainty as well as to provide an understanding of why individuals may make irrational or inconsistent decisions. Although the prospect theory has been used to explain decision making in economics, law, political science, and clinically at the individual level, its application to understanding choice in the adoption of digital health technology has not been explored.

Affect and Clinical Decision-Making

2018 ◽  
Author(s):  
Jane Heyhoe ◽  
Rebecca Lawton
Keyword(s):  
Decision Making ◽  
Clinical Decision Making ◽  
Current Knowledge ◽  
Clinical Decision ◽  
Evidence Base ◽  
Empirical Literature ◽  
Affective States ◽  
Psychological Models ◽  
The Individual

In the chapter “Affect and Clinical Decision-Making,” theoretical and empirical literature from within and outside healthcare are drawn on to understand the role of affect in clinical decision-making at the individual and team level. Theories of individual decision-making are summarized and psychological models of decision-making and current knowledge of thought processes are presented to explain the role of affect in judgment and behavior in healthcare settings. Three types of affect: anticipatory affect, incidental affect, and anticipated affect are discussed in detail and used to illustrate how affective states may play a role in different clinical contexts and settings. Gaps in the existing evidence base are identified, and suggestions are made for interventions that might support health professionals to make better decisions.

The Twists and Turns of Creativity

2019 ◽  
pp. 1-18
Author(s):  
Suzanne Nalbantian
Keyword(s):  
Cognitive Processing ◽  
Creative Process ◽  
Personal Narratives ◽  
Richard Powers ◽  
Creative Cognition ◽  
Conscious Processing ◽  
Brain Circuit ◽  
Fundamental Systems ◽  
The Individual

Suzanne Nalbantian provides an overarching synthesis of the conclusions about creativity arrived at by the neuroscientific and humanist contributors to this volume. She shows that the neuroscience chapters present a span of approaches, including a “workspace model” of the creative brain (Jean-Pierre Changeux), the role of the default mode network (Marcus Raichle), cognitive processing during dreaming (Robert Stickgold), the fundamental systems and cellular foundations of creativity (Jaak Panksepp, Alcino Silva, and John Bickle), and the importance of brain circuit plasticity in quantitative creative cognition (Geraint Wiggins and Charlotte Stagg). The psychologists Robert Sternberg, Oshin Vartanian, and Liane Gabora offer cognitive approaches based on phenomena of mind. Nancy Andreasen and Paul Matthews show how studies of exceptional brains—those marked by genius or those altered by disease or drugs—illuminate the mechanisms of creativity. The humanist contributors to this book provide a range of perspectives from those who analyze creativity as a trait of the individual (Suzanne Nalbantian, Suzette Henke, Mark Hussey, and John Onians) and those who view it as shaped by social context (Peter Schneck, Donald Wehrs, and John Foster). Personal narratives of the creative process are provided by the musician Bruce Adolphe and the contemporary novelist Richard Powers. All the contributors explore aspects of the conscious processing and spontaneous, nonconsious processing that define creativity, which this volume investigates through a unique, interdisciplinary optic.

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