3,737 results on '"Decision Theory"'
Search Results
2. Adults' strategy choices for simple addition: effects of retrieval interference.
- Author
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Campbell JI and Timm JC
- Subjects
- Adolescent, Adult, Analysis of Variance, Female, Humans, Male, Reaction Time, Association, Decision Theory, Inhibition, Psychological, Mathematics, Mental Recall
- Abstract
Simple addition (e.g., 3 + 2, 7 + 9) may be performed by direct memory retrieval or by such procedures as counting or transformation. The distribution of associations (DOA) model of strategy choice (Siegler, 1988) predicts that procedure use should increase as retrieval interference increases. To test this, 100 undergraduates performed simple addition problems, either after blocks of simple multiplication (high-interference context) or after blocks of simple division problems (low-interference context). Addition took longer and was more error prone after multiplication; in particular, there were more multiplication confusion errors on the relatively easy, small-number addition problems (e.g., 3 + 2 = 6, 4 + 3 = 12), but not on the more difficult, large-number additions. Consistent with the DOA, participants reported greater use of procedures for addition after multiplication, but more so for small addition problems. The findings demonstrate that adults' use of procedural strategies for simple addition is substantially influenced by retrieval interference.
- Published
- 2000
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- View/download PDF
3. [Significance of philosophy, bio-mathematics, biometry and model theory for medicine].
- Author
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Gerok W
- Subjects
- Curriculum, Decision Theory, Humans, Nonlinear Dynamics, Biometry, Education, Medical, Mathematics, Models, Theoretical, Philosophy, Medical
- Published
- 1998
- Full Text
- View/download PDF
4. An application of decision theory on the approximation of a generalized Apollonius-type quadratic functional equation
- Author
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Azam Ahadi, Reza Saadati, Tofigh Allahviranloo, and Donal O’Regan
- Subjects
Stability ,Decision theory ,Approximation ,Apollonius-type quadratic functional equation ,Z-number ,Mathematics ,QA1-939 - Abstract
Abstract To make better decisions on approximation, we may need to increase reliable and useful information on different aspects of approximation. To enhance information about the quality and certainty of approximating the solution of an Apollonius-type quadratic functional equation, we need to measure both the quality and the certainty of the approximation and the maximum errors. To measure the quality of it, we use fuzzy sets, and to achieve its certainty, we use the probability distribution function. To formulate the above problem, we apply the concept of Z-numbers and introduce a special matrix of the form diag ( A , B , C ) $\mathrm{diag}(A, B, C)$ (named the generalized Z-number) where A is a fuzzy time-stamped set, B is the probability distribution function, and C is a degree of reliability of A that is described as a value of A ∗ B $A\ast B$ . Using generalized Z-numbers, we define a novel control function to investigate H–U–R stability to approximate the solution of an Apollonius-type quadratic functional equation with quality and certainty of the approximation.
- Published
- 2024
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5. The Role of the Volatility in the Option Market
- Author
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Ivan Arraut and Ka-I Lei
- Subjects
stock market ,decision theory ,volatility ,Black–Scholes equation ,Merton–Garman equation ,option price ,Mathematics ,QA1-939 - Abstract
We review some general aspects about the Black–Scholes equation, which is used for predicting the fair price of an option inside the stock market. Our analysis includes the symmetry properties of the equation and its solutions. We use the Hamiltonian formulation for this purpose. Taking into account that the volatility inside the Black–Scholes equation is a parameter, we then introduce the Merton–Garman equation, where the volatility is stochastic, and then it can be perceived as a field. We then show how the Black–Scholes equation and the Merton–Garman one are locally equivalent by imposing a gauge symmetry under changes in the prices over the Black–Scholes equation. This demonstrates that the stochastic volatility emerges naturally from symmetry arguments. Finally, we analyze the role of the volatility on the decisions taken by the holders of the options when they use the solution of the Black–Scholes equation as a tool for making investment decisions.
- Published
- 2023
- Full Text
- View/download PDF
6. Potential outcome and decision theoretic foundations for statistical causality
- Author
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Richardson Thomas S. and Robins James M.
- Subjects
directed acyclic graph ,decision theory ,finest fully randomized causally interpreted structured tree graph ,potential outcome ,single-world intervention graph ,62a01 ,62d20 ,62h22 ,Mathematics ,QA1-939 ,Probabilities. Mathematical statistics ,QA273-280 - Abstract
In a recent work published in this journal, Philip Dawid has described a graphical causal model based on decision diagrams. This article describes how single-world intervention graphs (SWIGs) relate to these diagrams. In this way, a correspondence is established between Dawid's approach and those based on potential outcomes such as Robins’ finest fully randomized causally interpreted structured tree graphs. In more detail, a reformulation of Dawid s theory is given that is essentially equivalent to his proposal and isomorphic to SWIGs.
- Published
- 2023
- Full Text
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7. Reference Architecture for the Integration of Prescriptive Analytics Use Cases in Smart Factories
- Author
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Julian Weller, Nico Migenda, Yash Naik, Tim Heuwinkel, Arno Kühn, Martin Kohlhase, Wolfram Schenck, and Roman Dumitrescu
- Subjects
prescriptive analytics ,reference architecture ,smart factory ,decision theory ,data driven decision making ,Mathematics ,QA1-939 - Abstract
Prescriptive analytics plays an important role in decision making in smart factories by utilizing the available data to gain actionable insights. The planning, integration and development of such use cases still poses manifold challenges. Use cases are still being implemented as standalone versions; the existing IT-infrastructure is not fit for integrative bidirectional decision communication, and implementations only reach low technical readiness levels. We propose a reference architecture for the integration of prescriptive analytics use cases in smart factories. The method for the empirically grounded development of reference architectures by Galster and Avgeriou serves as a blueprint. Through the development and validation of a specific IoT-Factory use case, we demonstrate the efficacy of the proposed reference architecture. We expand the given reference architecture for one use case to the integration of a smart factory and its application to multiple use cases. Moreover, we identify the interdependency among multiple use cases within dynamic environments. Our prescriptive reference architecture provides a structured way to improve operational efficiency and optimize resource allocation.
- Published
- 2024
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8. Causation and decision: On Dawid’s 'Decision theoretic foundation of statistical causality'
- Author
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Pearl Judea
- Subjects
directed acyclic graphs ,conditional independence ,potential outcome ,ladder of causation ,causal bayesian network ,decision theory ,structural causal models ,do-calculus ,62a01 ,62c99 ,Mathematics ,QA1-939 ,Probabilities. Mathematical statistics ,QA273-280 - Abstract
In a recent issue of this journal, Philip Dawid (2021) proposes a framework for causal inference that is based on statistical decision theory and that is, in many aspects, compatible with the familiar framework of causal graphs (e.g., Directed Acyclic Graphs (DAGs)). This editorial compares the methodological features of the two frameworks as well as their epistemological basis.
- Published
- 2022
- Full Text
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9. Comment on: 'Decision-theoretic foundations for statistical causality'
- Author
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Shpitser Ilya
- Subjects
causal inference ,decision theory ,graphical models ,62a01 ,62c99 ,Mathematics ,QA1-939 ,Probabilities. Mathematical statistics ,QA273-280 - Published
- 2022
- Full Text
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10. Actual value in decision theory.
- Author
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Bacon, Andrew
- Subjects
- *
DECISION making , *DECISION theory , *EXPECTED returns , *MATHEMATICS , *COUNTERFACTUALS (Logic) - Abstract
Decision theory is founded on the principle that we ought to take the action that has the maximum expected value from among actions we are in a position to take. But prior to the notion of expected value is the notion of the actual value of that action: roughly, a measure of the good outcomes you would in fact procure if you were to take it. Surprisingly many decision theories operate without an analysis of actual value. I offer a definition of actual value, and show that a form of decision theory due to Stalnaker can be reformulated so as to be in line with the edict to maximize expected value. By contrast, I show that there is no quantity — given by my definition or otherwise — that plays the role of actual value in Jeffrey's decision theory. [ABSTRACT FROM AUTHOR]
- Published
- 2022
- Full Text
- View/download PDF
11. Interactive Internet Framework Proposal of WASPAS Method: A Computational Contribution for Decision-Making Analysis
- Author
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Flavio Barbara, Marcos dos Santos, Antônio Sergio Silva, Miguel Ângelo Lellis Moreira, Luiz Paulo Fávero, Enderson Luiz Pereira Júnior, Wagner dos Anjos Carvalho, Fernando Martins Muradas, Daniel Augusto de Moura Pereira, and Anderson Gonçalves Portella
- Subjects
CRAN ,decision theory ,operational research ,R language ,shiny ,Mathematics ,QA1-939 - Abstract
Concerning the development of computational tools and solutions as a decision-making aid, this paper presents the results of the waspasWEB project, which strives to provide decision-makers with a readily accessible mechanism to employ the weighted aggregated sum product assessment (WASPAS) method. The social contribution of the project encompasses the development of a user-friendly and publicly accessible internet tool, as well as a package launched on the Comprehensive R Archive Network (CRAN) to serve the community of users of the R language. The use of operational research methodologies is crucial to justify decisions, and this effort seeks to advance the adoption of such methodologies, offering managers, researchers, and the general public an intuitive and easily accessible multi-criteria decision-making tool. In this way, we present the technical specifications, usability, and interactivity of the user with the computational platform, being validated its viability through a hypothetical case study. At the end of the research, it exposes the limitations and feasibility of the proposed computational model along with future research.
- Published
- 2023
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12. Consistency of Decision in Finite and Numerable Multinomial Models
- Author
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Isaac Akoto and João T. Mexia
- Subjects
stochastic convergence ,decision theory ,estimators ,Mathematics ,QA1-939 - Abstract
The multinomial distribution is often used in modeling categorical data because it describes the probability of a random observation being assigned to one of several mutually exclusive categories. Given a finite or numerable multinomial model M|n,p whose decision is indexed by a parameter θ and having a cost cθ,p depending on θ and on p, we show that, under general conditions, the probability of taking the least cost decision tends to 1 when n tends to ∞, i.e., we showed that the cost decision is consistent, representing a Statistical Decision Theory approach to the concept of consistency, which is not much considered in the literature. Thus, under these conditions, we have consistency in the decision making. The key result is that the estimator p˜n with components p˜n,i=nin,i=1,⋯, where ni is the number of times we obtain the ith result when we have a sample of size n, is a consistent estimator of p. This result holds both for finite and numerable models. By this result, we were able to incorporate a more general form for consistency for the cost function of a multinomial model.
- Published
- 2023
- Full Text
- View/download PDF
13. Asymptotic Efficiency of Point Estimators in Bayesian Predictive Inference
- Author
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Emanuele Dolera
- Subjects
asymptotic efficiency ,bayesian predictive inference ,compatibility equations ,decision theory ,de Finetti’s representation theorem ,exchangeability ,Mathematics ,QA1-939 - Abstract
The point estimation problems that emerge in Bayesian predictive inference are concerned with random quantities which depend on both observable and non-observable variables. Intuition suggests splitting such problems into two phases, the former relying on estimation of the random parameter of the model, the latter concerning estimation of the original quantity from the distinguished element of the statistical model obtained by plug-in of the estimated parameter in the place of the random parameter. This paper discusses both phases within a decision theoretic framework. As a main result, a non-standard loss function on the space of parameters, given in terms of a Wasserstein distance, is proposed to carry out the first phase. Finally, the asymptotic efficiency of the entire procedure is discussed.
- Published
- 2022
- Full Text
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14. Giving Community College Students Choice: The Impact of Self-Placement in Math Courses.
- Author
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Kosiewicz, Holly and Ngo, Federick
- Subjects
COMMUNITY college students ,COLLEGE choice ,MATH anxiety ,DECISION theory ,SELF-determination theory ,MATHEMATICS - Abstract
This study examines the impact of a "natural experiment" that gave students the choice to place into or out of developmental math because of an unintended mistake made by a community college. During self-placement, more students chose to enroll in gateway college- and transfer-level math courses, however, greater proportions of female, Black, and Hispanic students enrolled in the lowest levels of math relative to test-placed counterparts. Difference-in-difference estimates show that self-placement led to positive outcomes, but mostly for White, Asian, and male students. This evidence suggests areas of concern and potential for improvement for self-placement policies. Self-determination theory, behavioral decision theory, and stereotype vulnerability provide possible explanations for the observed changes. [ABSTRACT FROM AUTHOR]
- Published
- 2020
- Full Text
- View/download PDF
15. A Multi-Objective Bayesian Approach with Dynamic Optimization (MOBADO). A Hybrid of Decision Theory and Machine Learning Applied to Customs Fraud Control in Spain
- Author
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Ignacio González García and Alfonso Mateos Caballero
- Subjects
optimization ,Bayes ,customs ,fraud ,decision theory ,machine learning ,Mathematics ,QA1-939 - Abstract
This paper studies the economically significant problem of the optimization of customs fraud control, which is a critical issue for many countries. The European Union (EU) alone handles 4693 tons of goods every minute (2018 figures). Even though 70% of goods are imported at zero tariff, the EU raised EUR 25.4 billions in 2018, and customs-related income transferred by member states to the EU accounts for nearly 13% of its overall budget. In this field, (a) the conflicting objectives are qualitative and cannot be reduced to a common measure (security and terrorism, health, drug market access control, taxes, etc.); (b) each submitted item has dozens of characteristics; (c) there are constraints; and (d) risk analysis systems have to make decisions in real time. Although the World Customs Organization has promoted the use of artificial intelligence to increase the precision of controls, the problem is very complex due to the data characteristics and interpretability, which is a requirement established by customs officers. In this paper, we propose a new Bayesian-based hybrid approach combining machine learning and multi-objective linear programming (MOLP), called multi-objective Bayesian with dynamic optimization (MOBADO). We demonstrate that it is possible to more than double (with a 237% increase) the precision of current inspection systems, freeing up almost 50% of human resources, and outperform past results with respect to each of the above objectives. MOBADO is an optimization technique that could be combined with any artificial intelligence approach capable of optimizing the quality of multi-objective risk analysis in real time.
- Published
- 2021
- Full Text
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16. The formation of preference in risky choice.
- Author
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Glickman, Moshe, Sharoni, Orian, Levy, Dino J., Niebur, Ernst, Stuphorn, Veit, and Usher, Marius
- Subjects
- *
CONSUMER preferences , *DECISION theory , *INFORMATION science , *STOCHASTIC dominance , *COGNITIVE science - Abstract
A key question in decision-making is how people integrate amounts and probabilities to form preferences between risky alternatives. Here we rely on the general principle of integration-to-boundary to develop several biologically plausible process models of risky-choice, which account for both choices and response-times. These models allowed us to contrast two influential competing theories: i) within-alternative evaluations, based on multiplicative interaction between amounts and probabilities, ii) within-attribute comparisons across alternatives. To constrain the preference formation process, we monitored eye-fixations during decisions between pairs of simple lotteries, designed to systematically span the decision-space. The behavioral results indicate that the participants' eye-scanning patterns were associated with risk-preferences and expected-value maximization. Crucially, model comparisons showed that within-alternative process models decisively outperformed within-attribute ones, in accounting for choices and response-times. These findings elucidate the psychological processes underlying preference formation when making risky-choices, and suggest that compensatory, within-alternative integration is an adaptive mechanism employed in human decision-making. [ABSTRACT FROM AUTHOR]
- Published
- 2019
- Full Text
- View/download PDF
17. Application of the Theory of Planned Behavior to couples' fertility decision-making in Inner Mongolia, China.
- Author
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Li, Xinhua, Fan, Yancun, Assanangkornchai, Sawitri, and McNeil, Edward B.
- Subjects
- *
PLANNED behavior theory , *SOCIAL norms , *DEMOGRAPHIC surveys , *SOCIAL perception , *HUMAN fertility , *STRUCTURAL equation modeling , *THEORY-practice relationship , *SOCIAL pressure - Abstract
China relaxed its family planning policy and adopted a universal two-child policy on January 1, 2016 to actively address the country’s aging trend. However, the policy has failed to have any significant effect on the fertility rate of many provinces. In light of the country having the highest sex ratio at birth in the world and the huge burden of the aging population, improving the fertility rate is an urgent priority in China. This facility-based cross-sectional survey aimed to study determinants of fertility decision-making among couples based on the Theory of Planned Behavior. The study was conducted in Inner Mongolia Autonomous Region of China. A structured self-administered questionnaire was completed by 1,399 couples, consisting of wives aged 20–49 years and their husbands. Based on the structural equation modeling method of analysis, determinants of fertility decision-making were perceived behavior control (perceived importance of having a stable income and cost of raising a child), subjective norms (perceived social pressure about “sex preference of the newborn by themselves and their partner”) and attitudes (only healthy parents can have a child). Other significant factors influencing fertility decision were ethnicity and education level, with ethnic minority couples having less perception of social norm towards fertility and those with higher education having higher perceived control toward having a (further) child. The study reveals the importance of the China’s infrastructure and public facilities to support child-rearing to increase the fertility rate among couples of child-bearing age, which in turn will reduce the burden associated with an aging society. [ABSTRACT FROM AUTHOR]
- Published
- 2019
- Full Text
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18. Personality traits and investor profile analysis: A behavioral finance study.
- Author
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De Bortoli, Daiane, Jr.da Costa, Newton, Goulart, Marco, and Campara, Jéssica
- Subjects
- *
PERSONALITY , *BEHAVIORAL assessment , *BEHAVIORAL economics , *PERSONALITY assessment , *OPENNESS to experience , *STOCHASTIC dominance - Abstract
This study investigates which of four paradigms best portrays the risk profile manifest by investors in their financial asset investment decisions. The paradigms used to explain this profile were: prospect theory, investor profile analysis (IPA), the Big Five Personality Test, and the Cognitive Reflection Test (CRT). The choice of proxy for the risk preferences (profile) of a typical investor was defined by simulating investments in a laboratory setting. The results are analyzed using ordered logistic regression and show that people who have greater risk tolerance according to IPA, who violate prospect theory, and who have a high degree of openness to experience have the greatest probability of taking higher levels of risk in their investment decisions. With regard to the CRT, higher numbers of correct responses in this test has an inverse relationship with risk taking. [ABSTRACT FROM AUTHOR]
- Published
- 2019
- Full Text
- View/download PDF
19. Variable weights theory and its application to multi-attribute group decision making with intuitionistic fuzzy numbers on determining decision maker’s weights.
- Author
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Liu, Sen, Yu, Wei, Liu, Ling, and Hu, Yanan
- Subjects
- *
GROUP decision making , *FUZZY numbers , *INTUITIONISTIC mathematics , *FUZZY sets , *COMPARATIVE studies - Abstract
The determination of the weights of decision makers (DMs) is an important problem in multi-attribute group decision making. Many approaches have been presented to determine DMs’ weights. However, the computed weight vectors of DMs are usually assumed to be constant in existing studies, and this may cause irrationalities in the decision results. Therefore, this article proposes a novel method to determine DMs’ weights based on variable weights theory in which the evaluation information is described as intuitionistic fuzzy sets (IFSs). First, DMs provide their assessment with IFSs, and the intuitionistic fuzzy weighted averaging (IFWA) operator is applied to obtain weighted decision matrix based on the prior given DMs’ and attributes’ weights. Second, the DMs’ weights are obtained based on variable weights theory, and an alternative decision can be computed. Finally, the converted value of the achieved IFS of each alternative is calculated, and the best appropriate alternative is acquired. Two illustrative examples and the comparisons with exsiting approaches are also used to reflect the effectiveness of the proposed approach. [ABSTRACT FROM AUTHOR]
- Published
- 2019
- Full Text
- View/download PDF
20. Neurocognitive assessment in obsessive compulsive disorder patients: Adherence to behavioral decision models.
- Author
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Cillo, Alessandra, Bonetti, Marco, Burro, Giovanni, Di Serio, Clelia, De Filippis, Roberta, and Martoni, Riccardo Maria
- Subjects
- *
OBSESSIVE-compulsive disorder , *DECISION making , *PHENOTYPES , *NEUROPSYCHOLOGY , *HETEROGENEITY - Abstract
In economics, models of decision-making under risk are widely investigated. Since many empirical studies have shown patterns in choice behavior that classical models fail to predict, several descriptive theories have been developed. Due to an evident phenotypic heterogeneity, obsessive compulsive disorder (OCD) patients have shown a general deficit in decision making when compared to healthy control subjects (HCs). However, the direction for impairment in decision-making in OCD patients is still unclear. Hence, bridging decision-making models widely used in the economic literature with mental health research may improve the understanding of preference relations in severe patients, and may enhance intervention designs. We investigate the behavior of OCD patients with respect to HCs by means of decision making economic models within a typical neuropsychological setting, such as the Cambridge Gambling Task. In this task subjects have to decide the amount of their initial wealth to invest in each risky decision. To account for heterogenous preferences, we have analyzed the micro-level data for a more informative analysis of the choices made by the subjects. We consider two influential models in economics: the expected value (EV), which assumes risk neutrality, and a multiple reference points model, an alternative formulation of Disappointment theory. We find evidence that (medicated) OCD patients are more consistent with EV than HCs. The former appear to be more risk neutral, namely, less sensitive to risk than HCs. They also seem to base their decisions on disappointment avoidance less than HCs. [ABSTRACT FROM AUTHOR]
- Published
- 2019
- Full Text
- View/download PDF
21. Sour grapes and sweet victories: How actions shape preferences.
- Author
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Vinckier, Fabien, Rigoux, Lionel, Kurniawan, Irma T., Hu, Chen, Bourgeois-Gironde, Sacha, Daunizeau, Jean, and Pessiglione, Mathias
- Subjects
- *
COGNITIVE dissonance , *COGNITION , *DECISION theory , *INFERENCE (Logic) , *PSYCHOLOGY - Abstract
Classical decision theory postulates that choices proceed from subjective values assigned to the probable outcomes of alternative actions. Some authors have argued that opposite causality should also be envisaged, with choices influencing subsequent values expressed in desirability ratings. The idea is that agents may increase their ratings of items that they have chosen in the first place, which has been typically explained by the need to reduce cognitive dissonance. However, evidence in favor of this reverse causality has been the topic of intense debates that have not reached consensus so far. Here, we take a novel approach using Bayesian techniques to compare models in which choices arise from stable (but noisy) underlying values (one-way causality) versus models in which values are in turn influenced by choices (two-way causality). Moreover, we examined whether in addition to choices, other components of previous actions, such as the effort invested and the eventual action outcome (success or failure), could also impact subsequent values. Finally, we assessed whether the putative changes in values were only expressed in explicit ratings, or whether they would also affect other value-related behaviors such as subsequent choices. Behavioral data were obtained from healthy participants in a rating-choice-rating-choice-rating paradigm, where the choice task involves deciding whether or not to exert a given physical effort to obtain a particular food item. Bayesian selection favored two-way causality models, where changes in value due to previous actions affected subsequent ratings, choices and action outcomes. Altogether, these findings may help explain how values and actions drift when several decisions are made successively, hence highlighting some shortcomings of classical decision theory. [ABSTRACT FROM AUTHOR]
- Published
- 2019
- Full Text
- View/download PDF
22. The quest for an optimal alpha.
- Author
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Miller, Jeff and Ulrich, Rolf
- Subjects
- *
NULL hypothesis , *STATISTICAL models , *CONJOINT analysis , *SOCIAL change , *ECONOMIC development - Abstract
Researchers who analyze data within the framework of null hypothesis significance testing must choose a critical “alpha” level, α, to use as a cutoff for deciding whether a given set of data demonstrates the presence of a particular effect. In most fields, α = 0.05 has traditionally been used as the standard cutoff. Many researchers have recently argued for a change to a more stringent evidence cutoff such as α = 0.01, 0.005, or 0.001, noting that this change would tend to reduce the rate of false positives, which are of growing concern in many research areas. Other researchers oppose this proposed change, however, because it would correspondingly tend to increase the rate of false negatives. We show how a simple statistical model can be used to explore the quantitative tradeoff between reducing false positives and increasing false negatives. In particular, the model shows how the optimal α level depends on numerous characteristics of the research area, and it reveals that although α = 0.05 would indeed be approximately the optimal value in some realistic situations, the optimal α could actually be substantially larger or smaller in other situations. The importance of the model lies in making it clear what characteristics of the research area have to be specified to make a principled argument for using one α level rather than another, and the model thereby provides a blueprint for researchers seeking to justify a particular α level. [ABSTRACT FROM AUTHOR]
- Published
- 2019
- Full Text
- View/download PDF
23. A ranking method for multiple attribute decision‐making problems based on the possibility degrees of trapezoidal intuitionistic fuzzy numbers.
- Author
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Hao, Yonghua, Chen, Xinguo, and Wang, Xuzhu
- Subjects
FUZZY numbers ,INTUITIONISTIC mathematics ,OPERATOR theory ,ARITHMETIC mean ,MATHEMATICS - Abstract
To solve multiple attribute decision‐making problems with attribute values or decision values characterized by trapezoidal intuitionistic fuzzy numbers (TIFNs), we define a trapezoidal intuitionistic fuzzy induced ordered weighted arithmetic averaging (TIFIOWA) operator, which is an extension of the induced ordered weighted arithmetic averaging operator. We derive and prove some related properties and conclusions of the TIFIOWA operator. To compare the TIFNs, we define possibility degrees of the TIFNs. Based on the possibility degrees of the TIFNs and the TIFIOWA operator, we construct a new method to determine the order of alternatives in multiple attribute decision making and to choose the best alternative. Finally, a numerical example shows that the developed method is feasible and effective. [ABSTRACT FROM AUTHOR]
- Published
- 2019
- Full Text
- View/download PDF
24. Modelling of natural growth with memory effect in economics: An application of adomian decomposition and variational iteration methods
- Author
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Muhamad Deni Johansyah, Asep K. Supriatna, Endang Rusyaman, and Jumadil Saputra
- Subjects
Business mathematics. Commercial arithmetic. Including tables, etc ,QA299.6-433 ,Variational iteration ,Decision theory ,Decomposition (computer science) ,General Decision Sciences ,Applied mathematics ,Current (fluid) ,Analysis ,Natural (archaeology) ,HF5691-5716 ,Mathematics - Abstract
The power-law memory effect is taken into consideration in a generalisation of the economic model of natural growth. The memory effect refers to a process's reliance on its current state and its history of previous changes. However, the study that focuses on natural growth in economics considering the memory effect with fractional order-linear differential equation model is still limited. The current investigation seeks to solve the natural growth with memory effect in the economics model and decide the best model using fractional differential equation (FDE), namely Adomian Decomposition and Variational Iteration Methods. Also, this study assumes the level of consumer loss memory during a certain time interval denoted by a parameter (α). This study showed the model of loss memory effect with 0 < α ≤ 1 given a slowdown in output growth compared to a model without memory effect. Besides that, this study also found that output Y(t) is growing faster with the Variational Iteration method compared to the Adomian decomposition method. Also, using graphical simulation, this study found the output Y(t) is closer to the exact solution with α=0.4 and α=0.9. In conclusion, this study successfully solved natural growth with memory effect in economics and decided the best model between FDE, namely Adomian decomposition and Variational iterative methods using numerical analysis.
- Published
- 2022
- Full Text
- View/download PDF
25. Statistical Interpretation of Evidence: Bayesian Analysis
- Author
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Franco Taroni, Colin Aitken, and Alex Biedermann
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Bayes' rule ,Frequentist probability ,Bayes’ factor ,Bayes’ theorem ,Categorical data ,Continuous data ,Decision theory ,Degree of belief ,Evidence evaluation ,Fallacy ,Interpretation ,Likelihood ratio ,Posterior probability ,Prior probability ,Probability theory ,Subjective probability ,Utility ,computer.software_genre ,Bayesian inference ,Empirical probability ,Epistemology ,Bayes' theorem ,Dempster–Shafer theory ,Inductive probability ,Data mining ,computer ,Probability interpretations ,Mathematics - Abstract
Probability theory provides the general framework within which assignments of probabilities of past, present, and future events are coherently modified in the light of observed events or, more generally, new information. Forensic scientists, as an illustrative example, routinely face tasks of reasoning under uncertainty when they seek to assist members of the judiciary in evaluating or interpreting the meaning of items of scientific evidence. As a consequence of the laws of probability theory and related concepts, Bayes’ theorem is the key rule according to which to conduct such reasoning in order to comply with the requirement of rationality. This quantification, though, does not represent the end of the matter as the forensic scientist may also be confronted with questions of how to make a rational choice amongst alternative courses of action. This article presents the role of Bayes’ theorem, and its extension to decision analysis, in categorical and continuous data analysis in forensic science applications. It emphasizes the importance of propositional hierarchies, the role of background information, the interpretation of probability as personal degrees of belief and the personal quantification of the consequences of decisions. The discussion also includes a sketch of some common pitfalls of intuition associated with probabilistic reasoning in legal contexts.
- Published
- 2023
26. Risk aversion over finite domains
- Author
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Christoph Jansen, Jean Baccelli, and Georg Schollmeyer
- Subjects
History ,Polymers and Plastics ,Decision theory ,Absolute risk reduction ,Contrast (statistics) ,General Social Sciences ,General Decision Sciences ,Probability and statistics ,Risk aversion (psychology) ,Finite range ,Industrial and Manufacturing Engineering ,Computer Science Applications ,Range (mathematics) ,Arts and Humanities (miscellaneous) ,Econometrics ,Developmental and Educational Psychology ,Business and International Management ,Special case ,General Economics, Econometrics and Finance ,Mathematical economics ,Applied Psychology ,Utility model ,Expected utility hypothesis ,Mathematics - Abstract
We investigate risk attitudes when the underlying domain of payoffs is finite and the payoffs are, in general, not numerical. In such cases, the traditional notions of absolute risk attitudes, that are designed for convex domains of numerical payoffs, are not applicable. We introduce comparative notions of weak and strong risk attitudes that remain applicable. We examine how they are characterized within the rank-dependent utility model, thus including expected utility as a special case. In particular, we characterize strong comparative risk aversion under rank-dependent utility. This is our main result. From this and other findings, we draw two novel conclusions. First, under expected utility, weak and strong comparative risk aversion are characterized by the same condition over finite domains. By contrast, such is not the case under non-expected utility. Second, under expected utility, weak (respectively: strong) comparative risk aversion is characterized by the same condition when the utility functions have finite range and when they have convex range (alternatively, when the payoffs are numerical and their domain is finite or convex, respectively). By contrast, such is not the case under non-expected utility. Thus, considering comparative risk aversion over finite domains leads to a better understanding of the divide between expected and non-expected utility, more generally, the structural properties of the main models of decision-making under risk.
- Published
- 2021
- Full Text
- View/download PDF
27. Approximate Coherentism and Luck
- Author
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Boris Babic
- Subjects
History ,Generalization ,media_common.quotation_subject ,Decision theory ,05 social sciences ,Probability and statistics ,Rational agent ,Coherence (philosophical gambling strategy) ,050905 science studies ,Philosophy ,History and Philosophy of Science ,Luck ,Coherentism ,Norm (mathematics) ,0509 other social sciences ,Mathematical economics ,media_common ,Mathematics - Abstract
Approximate coherentism suggests that imperfectly rational agents should hold approximately coherent credences. This norm is intended as a generalization of ordinary coherence. I argue that it may be unable to play this role by considering its application under learning experiences. While it is unclear how imperfect agents should revise their beliefs, I suggest a plausible route is through Bayesian updating. However, Bayesian updating can take an incoherent agent from relatively more coherent credences to relatively less coherent credences, depending on the data observed. Thus, comparative rationality judgments among incoherent agents are unduly sensitive to luck.
- Published
- 2021
- Full Text
- View/download PDF
28. David Blackwell, 1919-2010: An explorer in mathematics and statistics.
- Author
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Bickel, Peter J.
- Subjects
- *
MATHEMATICS , *STATISTICS , *STATISTICAL decision making , *INFORMATION theory , *DECISION theory - Published
- 2020
- Full Text
- View/download PDF
29. Gaming Out the Scenarios of Life.
- Author
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Cheng, Eugenia
- Subjects
- *
DECISION theory , *NOBEL Prize in Economics - Published
- 2024
30. Estimating everyday risk: Subjective judgments are related to objective risk, mapping of numerical magnitudes and previous experience.
- Author
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Keage, Hannah A. D. and Loetscher, Tobias
- Subjects
- *
RISK perception , *INDIVIDUAL differences , *MATHEMATICAL mappings , *RISK communication , *NUMERICAL analysis - Abstract
We aimed to investigate individual differences that associate with peoples’ acute risk perception for activities such as walking and giving birth, including objective risk and the mapping of numerical magnitudes. The Amazon Mechanical Turk platform was used, with 284 participants recruited (40% female) ranging between 19 and 68 years. Participants had to indicate the positions of (1) the relative death risk of activities on a horizontal-line with ‘very low risk of death’ and ‘very high risk of death’ as left and right anchors respectively and (2), numerical magnitudes on a horizontal-line ranging 0–1000. The MicroMort framework was used to index acute risk of death (one/million chance of dying from an accident). Previous experience with the activities, handedness, along with risk propensity and unrealistic optimism were also measured. Linear mixed-effects modelling was used to investigate predictors of subjective MicroMort judgments. Individuals subjectively judged activities to be riskier if the activity was objectively riskier, if they over-estimated on the numerical task (more so for low-risk activities as compared to high-risk), or if they had not experienced the activity previously. The observed relationship between the number line task and everyday risk judgments is in keeping with the idea of a common magnitude representation system. In conclusion, individuals are able to discriminate between activities varying in risk in an absolute sense, however intuition for judging the relative differences in risk is poor. The relationship between the misjudging of both risks and numerical magnitudes warrants further investigation, as may inform the development of risk communication strategies. [ABSTRACT FROM AUTHOR]
- Published
- 2018
- Full Text
- View/download PDF
31. D-MINIMAL EXPANSIONS OF THE REAL FIELD HAVE THE ZERO SET PROPERTY.
- Author
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MILLER, CHRIS and THAMRONGTHANYALAK, ATHIPAT
- Subjects
- *
SET theory , *FORMALLY real fields , *DISCRETE choice models , *DECISION theory , *MATHEMATICS - Abstract
If E ⊆ Rn is closed and the structure (R,+, ·, E) is d-minimal (that is, in every structure elementarily equivalent to (R,+, ·, E), every unary definable set is a disjoint union of open intervals and finitely many discrete sets), then for each p ∈ N, there exist Cp functions f : Rn → R definable in (R,+, ·, E) such that E is the zero set of f. [ABSTRACT FROM AUTHOR]
- Published
- 2018
- Full Text
- View/download PDF
32. The complementary role of affect-based and cognitive heuristics to make decisions under conditions of ambivalence and complexity.
- Author
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Trujillo, Carlos Andres
- Subjects
- *
COGNITIVE ability , *MEDICAL decision making , *HEURISTIC algorithms , *AMBIVALENCE , *EPITHELIAL cells - Abstract
Little is known about the interplay between affective and cognitive processes of decision making within the bounded rationality perspective, in particular for the debate on adaptive decision making and strategy selection. This gap in the knowledge is particularly important as affect and deliberation may direct preferences in opposite directions. How do decision makers solve such dissonance? In this paper, we address this question by exploring the use of integral affect as a choice heuristic in comparison with and in conjunction to “take the best,” and weighted addition of attributes (WADD). We operationalize theories of reliance on affect in choice through a "Take the emotionally best" algorithm. Its predictive power is experimentally tested against other models, including mixed-sequential cognitive/affective procedures. We find that individual decisions are better predicted by a sequential combination of "Take the emotionally best" and "Take the best" with a slight dominance of the former. Conditions of cognitive/affective ambivalence, low discrimination ability and high complexity provide the cognitive architecture where such blended choice strategies predict decisions more precisely. This implies that reliance on integral affect may precede the use of cognitive cues following an ecological rationality perspective rather than supporting a kind of competition between affect and cognition as implied in current literature. [ABSTRACT FROM AUTHOR]
- Published
- 2018
- Full Text
- View/download PDF
33. Representation effects in the centipede game.
- Author
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Crosetto, Paolo and Mantovani, Marco
- Subjects
- *
CENTIPEDE (Game) , *PAYMENT systems , *PREDICTION theory , *MATHEMATICAL complex analysis , *QUESTIONNAIRES - Abstract
We explore the effects on strategic behavior of alternative representations of a centipede game that differ in terms of complexity. In a laboratory experiment, we manipulate the way in which payoffs are presented to subjects in two different ways. In both cases, information is made less accessible relative to the standard representation of the game. Results show that these manipulations shift the distribution of take nodes further away from the equilibrium prediction. The evidence is consistent with the view that failures of game-form recognition and the resulting limits to strategic reasoning are crucial for explaining non-equilibrium behavior in the centipede game. [ABSTRACT FROM AUTHOR]
- Published
- 2018
- Full Text
- View/download PDF
34. Sequential cooperative spectrum sensing in the presence of dynamic Byzantine attack for mobile networks.
- Author
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Wu, Jun, Song, Tiecheng, Yu, Yue, Wang, Cong, and Hu, Jing
- Subjects
- *
SPECTRUM analysis , *MOBILE communication systems , *FUSION centers (Government agencies) , *MULTISENSOR data fusion , *DATA security - Abstract
Cooperative spectrum sensing (CSS) is envisaged as a powerful approach to improve the utilization of scarce radio spectrum resources, but it is threatened by Byzantine attack. Byzantine attack has been becoming a popular research topic in both academia and industry due to the demanding requirements of security. Extensive research mainly aims at mitigating the negative effect of Byzantine attack on CSS, but with some strong assumptions, such as attackers are in minority or trusted node(s) exist for data fusion, while paying little attention to a mobile scenario. This paper focuses on the issue of designing a general and reliable reference for CSS in a mobile network. Instead of the previously simplified attack, we develop a generic Byzantine attack model from sophisticated behaviors to conduct various attack strategies and derive the condition of which Byzantine attack makes the fusion center (FC) blind. Specifically, we propose a robust sequential CSS (SCSS) against dynamic Byzantine attack. Our proposed method solves the unreliability of the FC by means of delivery-based assessment to check consistency of individual sensing report, and innovatively reuses the sensing information from Byzantines via a novel weight allocation mechanism. Furthermore, trust value (TrV) ranking is exploited to proceed with a sequential test which generates a more accurate decision about the presence of phenomenon with fewer samples. Lastly, we carry out simulations on comparison of existing data fusion technologies and SCSS under dynamic Byzantine attack, and results verify the theoretical analysis and effectiveness of our proposed approach. We also conduct numerical analyses to demonstrate explicit impacts of secondary user (SU) density and mobility on the performance of SCSS. [ABSTRACT FROM AUTHOR]
- Published
- 2018
- Full Text
- View/download PDF
35. Age-dependent Pavlovian biases influence motor decision-making.
- Author
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Chen, Xiuli, Rutledge, Robb B., Brown, Harriet R., Dolan, Raymond J., Bestmann, Sven, and Galea, Joseph M.
- Subjects
- *
DECISION making & psychology , *ECONOMIC decision making , *PREJUDICES , *DOPAMINE , *GAMBLING - Abstract
Motor decision-making is an essential component of everyday life which requires weighing potential rewards and punishments against the probability of successfully executing an action. To achieve this, humans rely on two key mechanisms; a flexible, instrumental, value-dependent process and a hardwired, Pavlovian, value-independent process. In economic decision-making, age-related decline in risk taking is explained by reduced Pavlovian biases that promote action toward reward. Although healthy ageing has also been associated with decreased risk-taking in motor decision-making, it is currently unknown whether this is a result of changes in Pavlovian biases, instrumental processes or a combination of both. Using a newly established approach-avoidance computational model together with a novel app-based motor decision-making task, we measured sensitivity to reward and punishment when participants (n = 26,532) made a ‘go/no-go’ motor gamble based on their perceived ability to execute a complex action. We show that motor decision-making can be better explained by a model with both instrumental and Pavlovian parameters, and reveal age-related changes across punishment- and reward-based instrumental and Pavlovian processes. However, the most striking effect of ageing was a decrease in Pavlovian attraction towards rewards, which was associated with a reduction in optimality of choice behaviour. In a subset of participants who also played an independent economic decision-making task (n = 17,220), we found similar decision-making tendencies for motor and economic domains across a majority of age groups. Pavlovian biases, therefore, play an important role in not only explaining motor decision-making behaviour but also the changes which occur through normal ageing. This provides a deeper understanding of the mechanisms which shape motor decision-making across the lifespan. [ABSTRACT FROM AUTHOR]
- Published
- 2018
- Full Text
- View/download PDF
36. A rough set-based measurement model study on high-speed railway safety operation.
- Author
-
Hu, Qizhou, Tan, Minjia, Lu, Huapu, and Zhu, Yun
- Subjects
- *
RAILROADS , *RAILROAD safety measures , *SET theory , *DATA analysis , *RELIABILITY in engineering - Abstract
Aiming to solve the safety problems of high-speed railway operation and management, one new method is urgently needed to construct on the basis of the rough set theory and the uncertainty measurement theory. The method should carefully consider every factor of high-speed railway operation that realizes the measurement indexes of its safety operation. After analyzing the factors that influence high-speed railway safety operation in detail, a rough measurement model is finally constructed to describe the operation process. Based on the above considerations, this paper redistricts the safety influence factors of high-speed railway operation as 16 measurement indexes which include staff index, vehicle index, equipment index and environment. And the paper also provides another reasonable and effective theoretical method to solve the safety problems of multiple attribute measurement in high-speed railway operation. As while as analyzing the operation data of 10 pivotal railway lines in China, this paper respectively uses the rough set-based measurement model and value function model (one model for calculating the safety value) for calculating the operation safety value. The calculation result shows that the curve of safety value with the proposed method has smaller error and greater stability than the value function method’s, which verifies the feasibility and effectiveness. [ABSTRACT FROM AUTHOR]
- Published
- 2018
- Full Text
- View/download PDF
37. Network approach for decision making under risk—How do we choose among probabilistic options with the same expected value?
- Author
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Pan, Wei and Chen, Yi-Shin
- Subjects
- *
DECISION making , *EXPECTED returns , *PROBABILITY theory , *PROBLEM solving , *DECISION theory - Abstract
Conventional decision theory suggests that under risk, people choose option(s) by maximizing the expected utility. However, theories deal ambiguously with different options that have the same expected utility. A network approach is proposed by introducing ‘goal’ and ‘time’ factors to reduce the ambiguity in strategies for calculating the time-dependent probability of reaching a goal. As such, a mathematical foundation that explains the irrational behavior of choosing an option with a lower expected utility is revealed, which could imply that humans possess rationality in foresight. [ABSTRACT FROM AUTHOR]
- Published
- 2018
- Full Text
- View/download PDF
38. The neural system of metacognition accompanying decision-making in the prefrontal cortex.
- Author
-
Qiu, Lirong, Su, Jie, Ni, Yinmei, Bai, Yang, Zhang, Xuesong, Li, Xiaoli, and Wan, Xiaohong
- Subjects
- *
PREFRONTAL cortex , *METACOGNITION , *DECISION making , *FUNCTIONAL magnetic resonance imaging , *NEURAL circuitry - Abstract
Decision-making is usually accompanied by metacognition, through which a decision maker monitors uncertainty regarding a decision and may then consequently revise the decision. These decisional metacognitive processes can occur prior to or in the absence of feedback. However, the neural mechanisms of metacognition remain controversial. One theory proposes an independent neural system for metacognition in the prefrontal cortex (PFC); the other, that metacognitive processes coincide and overlap with the systems used for the decision-making process per se. In this study, we devised a novel “decision–redecision” paradigm to investigate the neural metacognitive processes involved in redecision as compared to the initial decision-making process. The participants underwent a perceptual decision-making task and a rule-based decision-making task during functional magnetic resonance imaging (fMRI). We found that the anterior PFC, including the dorsal anterior cingulate cortex (dACC) and lateral frontopolar cortex (lFPC), were more extensively activated after the initial decision. The dACC activity in redecision positively scaled with decisional uncertainty and correlated with individual metacognitive uncertainty monitoring abilities—commonly occurring in both tasks—indicating that the dACC was specifically involved in decision uncertainty monitoring. In contrast, the lFPC activity seen in redecision processing was scaled with decision uncertainty reduction and correlated with individual accuracy changes—positively in the rule-based decision-making task and negatively in the perceptual decision-making task. Our results show that the lFPC was specifically involved in metacognitive control of decision adjustment and was subject to different control demands of the tasks. Therefore, our findings support that a separate neural system in the PFC is essentially involved in metacognition and further, that functions of the PFC in metacognition are dissociable. [ABSTRACT FROM AUTHOR]
- Published
- 2018
- Full Text
- View/download PDF
39. A novel decision tree classification based on post-pruning with Bayes minimum risk.
- Author
-
Ahmed, Ahmed Mohamed, Rizaner, Ahmet, and Ulusoy, Ali Hakan
- Subjects
- *
DECISION trees , *COMPUTATIONAL complexity , *ERROR analysis in mathematics , *INFORMATION technology , *COGNITIVE psychology - Abstract
Pruning is applied in order to combat over-fitting problem where the tree is pruned back with the goal of identifying decision tree with the lowest error rate on previously unobserved instances, breaking ties in favour of smaller trees with high accuracy. In this paper, pruning with Bayes minimum risk is introduced for estimating the risk-rate. This method proceeds in a bottom-up fashion converting a parent node of a subtree to a leaf node if the estimated risk-rate of the parent node for that subtree is less than the risk-rates of its leaf. This paper proposes a post-pruning method that considers various evaluation standards such as attribute selection, accuracy, tree complexity, and time taken to prune the tree, precision/recall scores, TP/FN rates and area under ROC. The experimental results show that the proposed method produces better classification accuracy and its complexity is not much different than the complexities of reduced-error pruning and minimum-error pruning approaches. The experiments also demonstrate that the proposed method shows satisfactory performance in terms of precision score, recall score, TP rate, FP rate and area under ROC. [ABSTRACT FROM AUTHOR]
- Published
- 2018
- Full Text
- View/download PDF
40. An entropic barriers diffusion theory of decision-making in multiple alternative tasks.
- Author
-
Fernandez Slezak, Diego, Sigman, Mariano, and Cecchi, Guillermo A.
- Subjects
- *
CHESS , *DECISION making , *DISCRETE choice models , *ANCHORING effect , *BOUNDED rationality - Abstract
We present a theory of decision-making in the presence of multiple choices that departs from traditional approaches by explicitly incorporating entropic barriers in a stochastic search process. We analyze response time data from an on-line repository of 15 million blitz chess games, and show that our model fits not just the mean and variance, but the entire response time distribution (over several response-time orders of magnitude) at every stage of the game. We apply the model to show that (a) higher cognitive expertise corresponds to the exploration of more complex solution spaces, and (b) reaction times of users at an on-line buying website can be similarly explained. Our model can be seen as a synergy between diffusion models used to model simple two-choice decision-making and planning agents in complex problem solving. [ABSTRACT FROM AUTHOR]
- Published
- 2018
- Full Text
- View/download PDF
41. Shame in decision making under risk conditions: Understanding the effect of transparency.
- Author
-
Bonavia, Tomas and Brox-Ponce, Josué
- Subjects
- *
TRANSPARENCY in government , *ETHICS , *EMOTIONS , *SHAME , *SOCIAL sciences - Abstract
The role played by the emotion of shame in the area of decision-making in situations of risk has hardly been studied. In this article, we show how the socio-moral emotions and the anticipated feeling of shame associated with different options can determine our decisions, even overriding the cognitive choice tendency proposed by the certainty effect. To do so, we carried out an experiment with university students as participants, dividing them into four experimental conditions. Our findings suggest that people avoid making unethical decisions, both when these decisions are made public to others and when they remain in the private sphere. This result seems to indicate that the main factor in not making unethical decisions is related to the need to avoid transgressing an internal moral standard of behavior, and that the role of transparency is less relevant than expected. However, we propose that, although the effect of transparency is limited in reducing unethical economic decisions, it should continue to be taken into account in theoretical models that address the reasons people behave unethically. [ABSTRACT FROM AUTHOR]
- Published
- 2018
- Full Text
- View/download PDF
42. New Bounds for the CLIQUE-GAP Problem Using Graph Decomposition Theory.
- Author
-
Braverman, Vladimir, Liu, Zaoxing, Singh, Tejasvam, Vinodchandran, N. V., and Yang, Lin F.
- Subjects
- *
MATHEMATICAL programming , *DISCRETE choice models , *CELLULAR automata , *MATHEMATICS , *DECISION theory - Abstract
Halldórsson et al (ICALP proceedings of the 39th international colloquium conference on automata, languages, and programming, vol part I, Springer, pp 449–460,
2012 ) investigated the space complexity of the following problem CLIQUE-GAP(r ,s ): given a graph streamG , distinguish whether ω(G)≥ror ω(G)≤s , where ω(G) is the clique-number of G . In particular, they give matching upper and lower bounds for CLIQUE-GAP(r ,s ) for anyr and s=clog(n), for some constant c . The space complexity of the CLIQUE-GAP problem for smaller values ofs is left as an open question. In this paper, we answer this open question. Specifically, for anyr and for s=O~(log(n)), we prove that the space complexity of CLIQUE-GAP problem is Θ~(ms2r2) . Our lower bound is based on a new connection between graph decomposition theory (Chung et al in Studies in pure mathematics, Birkhäuser, Basel, pp 95–101, 1983 ; Chung in SIAM J Algebr Discrete Methods 2(1):1–12,1981 ) and the multi-party set disjointness problem in communication complexity. [ABSTRACT FROM AUTHOR]- Published
- 2018
- Full Text
- View/download PDF
43. An EGR performance evaluation and decision-making approach based on grey theory and grey entropy analysis.
- Author
-
Zu, Xianghuan, Yang, Chuanlei, Wang, Hechun, and Wang, Yinyan
- Subjects
- *
EXHAUST gas recirculation , *GREY relational analysis , *DECISION making , *PERFORMANCE of diesel motors , *NITROGEN oxides emission control - Abstract
Exhaust gas recirculation (EGR) is one of the main methods of reducing NOX emissions and has been widely used in marine diesel engines. This paper proposes an optimized comprehensive assessment method based on multi-objective grey situation decision theory, grey relation theory and grey entropy analysis to evaluate the performance and optimize rate determination of EGR, which currently lack clear theoretical guidance. First, multi-objective grey situation decision theory is used to establish the initial decision-making model according to the main EGR parameters. The optimal compromise between diesel engine combustion and emission performance is transformed into a decision-making target weight problem. After establishing the initial model and considering the characteristics of EGR under different conditions, an optimized target weight algorithm based on grey relation theory and grey entropy analysis is applied to generate the comprehensive evaluation and decision-making model. Finally, the proposed method is successfully applied to a TBD234V12 turbocharged diesel engine, and the results clearly illustrate the feasibility of the proposed method for providing theoretical support and a reference for further EGR optimization. [ABSTRACT FROM AUTHOR]
- Published
- 2018
- Full Text
- View/download PDF
44. Decision time and confidence predict choosers' identification performance in photographic showups.
- Author
-
Sauerland, Melanie, Sagana, Anna, Sporer, Siegfried L., and Wixted, John T.
- Subjects
- *
BAYESIAN analysis , *CONDUCT of court proceedings , *DECISION making , *STIMULUS & response (Biology) , *SENSES - Abstract
In vast contrast to the multitude of lineup studies that report on the link between decision time, confidence, and identification accuracy, only a few studies looked at these associations for showups, with results varying widely across studies. We therefore set out to test the individual and combined value of decision time and post-decision confidence for diagnosing the accuracy of positive showup decisions using confidence-accuracy characteristic curves and Bayesian analyses. Three-hundred-eighty-four participants viewed a stimulus event and were subsequently presented with two showups which could be target-present or target-absent. As expected, we found a negative decision time-accuracy and a positive post-decision confidence-accuracy correlation for showup selections. Confidence-accuracy characteristic curves demonstrated the expected additive effect of combining both postdictors. Likewise, Bayesian analyses, taking into account all possible target-presence base rate values showed that fast and confident identification decisions were more diagnostic than slow or less confident decisions, with the combination of both being most diagnostic for postdicting accurate and inaccurate decisions. The postdictive value of decision time and post-decision confidence was higher when the prior probability that the suspect is the perpetrator was high compared to when the prior probability that the suspect is the perpetrator was low. The frequent use of showups in practice emphasizes the importance of these findings for court proceedings. Overall, these findings support the idea that courts should have most trust in showup identifications that were made fast and confidently, and least in showup identifications that were made slowly and with low confidence. [ABSTRACT FROM AUTHOR]
- Published
- 2018
- Full Text
- View/download PDF
45. MATHEMATICAL GAMES.
- Author
-
Gardner, Martin
- Subjects
GAME theory ,MATHEMATICS ,DECISION theory ,MATHEMATICAL models ,GEOMETRY ,ALGEBRA ,SET theory - Abstract
Provides information on game theory, a useful branch of modern mathematics. Development of game theory into an amalgam of algebra, geometry, set theory and topology, with applications to competitive situations in business, warfare and politics as well as economics; Discussion on the mixed strategy of game theory; Overview of solution to match problem, cube-folding, and tri-hex.
- Published
- 1967
- Full Text
- View/download PDF
46. Investigating the origin and consequences of endogenous default options in repeated economic choices
- Author
-
Couto, Joaquina, Van Maanen, Leendert, Lebreton, Maël, Leerstoel Stigchel, Experimental Psychology (onderzoeksprogramma PF), Helmholtz Institute, Afd Psychologische functieleer, Leerstoel Stigchel, Experimental Psychology (onderzoeksprogramma PF), Helmholtz Institute, and Afd Psychologische functieleer
- Subjects
Behavioral Economics ,Male ,Economics ,Social Sciences ,Behavioral economics ,Time pressure ,Choice Behavior ,0302 clinical medicine ,Cognition ,Learning and Memory ,Psychology ,Payment ,media_common ,Multidisciplinary ,Experimental Design ,Applied Mathematics ,05 social sciences ,Statistics ,Commerce ,Experimental economics ,ddc:128.37 ,Models, Economic ,Research Design ,Physical Sciences ,Medicine ,Female ,Research Article ,Statistical Distributions ,Adult ,Experimental Economics ,Adolescent ,media_common.quotation_subject ,Decision theory ,Science ,Decision Making ,Models, Psychological ,Research and Analysis Methods ,050105 experimental psychology ,Microeconomics ,03 medical and health sciences ,Young Adult ,Decision Theory ,Risk-Taking ,Bias ,Learning ,Humans ,0501 psychology and cognitive sciences ,Behavior ,Cognitive Psychology ,Biology and Life Sciences ,Probability Theory ,ddc:616.8 ,Framing (social sciences) ,Cognitive Science ,Default - option ,Risk taking ,030217 neurology & neurosurgery ,Mathematics ,Neuroscience - Abstract
Classical value-based decision theories state that economic choices are solely based on the value of available options. Experimental evidence suggests, however, that individuals’ choices are biased towards default options, prompted by the framing of decisions. Although the effects of default options created by exogenous framing – such as how choice options are displayed – are well-documented, little is known about the potential effects and properties of endogenous framing, that is, originating from an individual’s internal state. In this study, we investigated the existence and properties of endogenous default options in a task involving choices between risky lotteries. By manipulating and examining the effects of three experimental features – time pressure, time spent on task and relative choice proportion towards a specific option –, we reveal and dissociate two features of endogenous default options which bias individuals’ choices: a natural tendency to prefer certain types of options (natural default), and the tendency to implicitly learn a default option from past choices (learned default). Additional analyses suggest that while the natural default may bias the standard choice process towards an option category, the learned default effects may be attributable to a second independent choice process. Overall, these investigations provide a first experimental evidence of how individuals build and apply diverse endogenous default options in economic decision-making and how this biases their choices.
- Published
- 2022
- Full Text
- View/download PDF
47. Adversarial risk analysis for first‐price sealed‐bid auctions
- Author
-
Muhammad Ejaz, Stephen Joe, and Chaitanya Joshi
- Subjects
TheoryofComputation_MISCELLANEOUS ,Statistics and Probability ,Game theoretic ,media_common.quotation_subject ,Decision theory ,05 social sciences ,Bayesian probability ,Adversarial risk analysis ,TheoryofComputation_GENERAL ,01 natural sciences ,010104 statistics & probability ,Reservation price ,0502 economics and business ,Common value auction ,0101 mathematics ,Statistics, Probability and Uncertainty ,Function (engineering) ,Mathematical economics ,050205 econometrics ,Mathematics ,media_common - Abstract
Adversarial Risk Analysis (ARA) is an upcoming methodology that is considered to have advantages over the traditional decision theoretic and game theoretic approaches. ARA solutions for first-price sealed-bid (FPSB) auctions have been found but only under strong assumptions which make the model somewhat unrealistic. In this paper, we use ARA methodology to model FPSB auctions using more realistic assumptions. We define a new utility function that considers bidders' wealth, we assume a reserve price and find solutions not only for risk-neutral but also for risk-averse as well as risk-seeking bidders. We model the problem using ARA for non-strategic play and level-k thinking solution concepts.
- Published
- 2021
- Full Text
- View/download PDF
48. Bayesian decision rules to classification problems
- Author
-
Yuqi Long and Xingzhong Xu
- Subjects
Statistics and Probability ,Posterior predictive distribution ,business.industry ,Decision theory ,Bayesian probability ,Decision rule ,Artificial intelligence ,Statistics, Probability and Uncertainty ,Machine learning ,computer.software_genre ,business ,computer ,Mathematics - Published
- 2021
- Full Text
- View/download PDF
49. Componentwise estimation of ordered scale parameters of two exponential distributions under a general class of loss function
- Author
-
Lakshmi Kanta Patra, Somesh Kumar, and Constantinos Petropoulos
- Subjects
Statistics and Probability ,Estimation ,Class (set theory) ,Scale (ratio) ,Decision theory ,PARAM ,Applied mathematics ,Order (group theory) ,Function (mathematics) ,Statistics, Probability and Uncertainty ,Exponential function ,Mathematics - Abstract
In many real life situations, prior information about the parameters is available, such as the ordering of the parameters. Incorporating this prior information about the order restrictions on param...
- Published
- 2021
- Full Text
- View/download PDF
50. Optimal payoff under the generalized dual theory of choice
- Author
-
Zhao Li Jiang and Xue Dong He
- Subjects
Computer Science::Computer Science and Game Theory ,Mathematical optimization ,021103 operations research ,Complete market ,Applied Mathematics ,Decision theory ,Stochastic game ,0211 other engineering and technologies ,02 engineering and technology ,Maximization ,Management Science and Operations Research ,01 natural sciences ,Industrial and Manufacturing Engineering ,Dual (category theory) ,010104 statistics & probability ,Portfolio ,0101 mathematics ,Portfolio optimization ,Preference (economics) ,Software ,Mathematics - Abstract
We consider portfolio optimization under a preference model in a single-period, complete market. This preference model includes Yaari’s dual theory of choice and quantile maximization as special cases. We characterize when the optimal solution exists and derive the optimal solution in closed form when it exists. The optimal portfolio yields an in-the-money payoff when the market is good and zero payoff otherwise. Finally, we extend our portfolio optimization problem by imposing a dependence structure with a given benchmark payoff.
- Published
- 2021
- Full Text
- View/download PDF
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