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Author: Erin Todd Bronchetti
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
A large and growing literature shows that attention-increasing interventions, such as reminders and planning prompts, can promote important behaviors. This paper develops a method to investigate whether people value attention-increasing tools rationally. We characterize how the demand for attention improvements must vary with the pecuniary incentive to be attentive and develop quantitative tests of rational inattention that we deploy in two experiments. The first is an experiment with an online education platform run in the field (n=1,373), in which we randomize incentives to complete course modules and incentives to make plans to complete the modules. The second is an online survey-completion experiment (n=944), in which we randomize incentives to complete a survey three weeks later and the price of reminders to complete the survey. In both experiments, as incentives to complete a task increase, demand for attention-improving technologies also increases. However, our tests suggest that the increase in demand for attention improvements is too small relative to the null of full rationality, indicating that people underuse attention-increasing tools. In our second experiment, we estimate that individuals undervalue the benefits of reminders by 59%.
Author: Erin Todd Bronchetti
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
A large and growing literature shows that attention-increasing interventions, such as reminders and planning prompts, can promote important behaviors. This paper develops a method to investigate whether people value attention-increasing tools rationally. We characterize how the demand for attention improvements must vary with the pecuniary incentive to be attentive and develop quantitative tests of rational inattention that we deploy in two experiments. The first is an experiment with an online education platform run in the field (n=1,373), in which we randomize incentives to complete course modules and incentives to make plans to complete the modules. The second is an online survey-completion experiment (n=944), in which we randomize incentives to complete a survey three weeks later and the price of reminders to complete the survey. In both experiments, as incentives to complete a task increase, demand for attention-improving technologies also increases. However, our tests suggest that the increase in demand for attention improvements is too small relative to the null of full rationality, indicating that people underuse attention-increasing tools. In our second experiment, we estimate that individuals undervalue the benefits of reminders by 59%.
Author: Paul Weirich
Publisher: Oxford University Press
ISBN: 0190291117
Category : Philosophy
Languages : en
Pages : 278
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Book Description
Within traditional decision theory, common decision principles -- e.g. the principle to maximize utility -- generally invoke idealization; they govern ideal agents in ideal circumstances. In Realistic Decision Theory, Paul Weirch adds practicality to decision theory by formulating principles applying to nonideal agents in nonideal circumstances, such as real people coping with complex decisions. Bridging the gap between normative demands and psychological resources, Realistic Decision Theory is essential reading for theorists seeking precise normative decision principles that acknowledge the limits and difficulties of human decision-making.
Author: Stephen Parsons
Publisher: Routledge
ISBN: 1317797329
Category : Business & Economics
Languages : en
Pages : 184
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Book Description
This unique study into the roots of Max Weber's Political Economy, is an intriguing read and a valuable contribution to the Weberian literature. Parsons argues that Weber's analysis is highly influenced by the Austrian School of Economics and the relationship between his critique of centrally planned economies and that of Mises.
Author: Jennifer J. Halpern
Publisher: Cornell University Press
ISBN: 1501725475
Category : Business & Economics
Languages : en
Pages : 296
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Book Description
Decision makers strive to be rational. Traditionally, rational decisions maximize an appropriate return. The contributors to this book challenge the common assumption that good decisions must be rational in this economic sense. They emphasize that the decision-making process is influenced by social, organizational, and psychological considerations as well as by economic concerns. Relationships, time pressure, external demands for specific types of performance, contractual expectations, human biases, and reactions to unfair treatment alter the decision-making context and the resulting decision outcomes.
Author: Kurt Weyland
Publisher: Princeton University Press
ISBN: 1400828066
Category : Political Science
Languages : en
Pages : 313
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Book Description
Why do very different countries often emulate the same policy model? Two years after Ronald Reagan's income-tax simplification of 1986, Brazil adopted a similar reform even though it threatened to exacerbate income disparity and jeopardize state revenues. And Chile's pension privatization of the early 1980s has spread throughout Latin America and beyond even though many poor countries that have privatized their social security systems, including Bolivia and El Salvador, lack some of the preconditions necessary to do so successfully. In a major step beyond conventional rational-choice accounts of policy decision-making, this book demonstrates that bounded--not full--rationality drives the spread of innovations across countries. When seeking solutions to domestic problems, decision-makers often consider foreign models, sometimes promoted by development institutions like the World Bank. But, as Kurt Weyland argues, policymakers apply inferential shortcuts at the risk of distortions and biases. Through an in-depth analysis of pension and health reform in Bolivia, Brazil, Costa Rica, El Salvador, and Peru, Weyland demonstrates that decision-makers are captivated by neat, bold, cognitively available models. And rather than thoroughly assessing the costs and benefits of external models, they draw excessively firm conclusions from limited data and overextrapolate from spurts of success or failure. Indications of initial success can thus trigger an upsurge of policy diffusion.
Author: Michael I. Handel
Publisher: Psychology Press
ISBN: 9780714654843
Category : History
Languages : en
Pages : 332
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Book Description
One of three volumes in honour of the teaching and scholarship of the late Michael I. Handel, this book details the universal logic of strategy and the ability of liberal-democratic governments to address this logic rationally. Treating war as an extension of politics, the diverse contributors (drawn from the United States, the United Kingdom, Australia and Israel) explore the difficulties in matching strategy to policy, especially in free societies.
Author: Sujata Ghosh
Publisher: Springer Nature
ISBN: 3030887081
Category : Philosophy
Languages : en
Pages : 302
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Book Description
This LNCS book is part of the FOLLI book series and constitutes the proceedings of the 8th International Workshop on Logic, Rationality, and Interaction, LORI 2021, held in Xi`an, China, in October 2021. The 15 full papers presented together with 7 short papers in this book were carefully reviewed and selected from 40 submissions. The workshop covers a wide range on the following topics such as doxastic and epistemic logics, deontic logic, intuitionistic and subsstructural logics, voting theory, and (a new theme emphasized this year) causal inference.
Author: Davide Grossi
Publisher: Springer
ISBN: 3642409482
Category : Mathematics
Languages : en
Pages : 372
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Book Description
This book collects the papers presented at the 4th International Workshop on Logic, Rationality and Interaction/ (LORI-4), held in October 2013 at the /Center for the Study of Language and Cognition, Zhejiang University, Hangzhou, China. LORI is a series that brings together researchers from a variety of logic-related fields: Game and Decision Theory, Philosophy, Linguistics, Computer Science and AI. This year had a special emphasis on Norms and Argumentation. Out of 42 submissions, 23 full papers and 11 short contributions have been selected through peer-review for inclusion in the workshop program and in this volume. The quality and diversity of these contributions witnesses a lively, fast-growing, and interdisciplinary community working at the intersection of logic and rational interaction.
Author: Sanjit Dhami
Publisher: MIT Press
ISBN: 0262369656
Category : Business & Economics
Languages : en
Pages : 553
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Book Description
Two leaders in the field explore the foundations of bounded rationality and its effects on choices by individuals, firms, and the government. Bounded rationality recognizes that human behavior departs from the perfect rationality assumed by neoclassical economics. In this book, Sanjit Dhami and Cass R. Sunstein explore the foundations of bounded rationality and consider the implications of this approach for public policy and law, in particular for questions about choice, welfare, and freedom. The authors, both recognized as experts in the field, cover a wide range of empirical findings and assess theoretical work that attempts to explain those findings. Their presentation is comprehensive, coherent, and lucid, with even the most technical material explained accessibly. They not only offer observations and commentary on the existing literature but also explore new insights, ideas, and connections. After examining the traditional neoclassical framework, which they refer to as the Bayesian rationality approach (BRA), and its empirical issues, Dhami and Sunstein offer a detailed account of bounded rationality and how it can be incorporated into the social and behavioral sciences. They also discuss a set of models of heuristics-based choice and the philosophical foundations of behavioral economics. Finally, they examine libertarian paternalism and its strategies of “nudges.”
Author: Jong-Tsun Huang
Publisher: Frontiers Media SA
ISBN: 2889455289
Category : Decision making
Languages : en
Pages : 275
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Book Description
The world is full of uncertainty. In unpredictable circumstances, can emotions facilitate advantageous decision-making? A neuroscience team, led by Antonio Damasio, explored this question using the Iowa Gambling Task (IGT). To the present day, the findings of numerous IGT-related investigations strongly influence clinical and interdisciplinary research, for example, in neuroeconomics and neuromarketing. This special issue examines IGT-based research progress over the past 20 years through literature reviews, clinical examinations, model construction, theoretical integration, and brain imaging technology. Both supportive and opposing viewpoints are provided to frame correlations between rationality, emotion, decision-making, and IGT. Potential future directions for IGT studies are discussed
