Download Decision Making: Cognitive Models and Explanations by Rob Raynard PDF

By Rob Raynard

Containing contributions from well-respected overseas researchers into determination making, this booklet bargains overviews and reviews of vital contemporary examine. It examines the character of the mental approaches underlying selection making, and addresses quite a number themes together with the function of feelings, coping with uncertainty, time strain, and self assurance in judgements. choice Making first locations the method method of selection examine in a ancient and theoretical context, delivering a severe assessment of its central study equipment. The members then contemplate quite a few impacts upon choice making, chance and uncertainty; a last part examines time strain, the results of earlier judgements, and post-decision techniques.

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Extra resources for Decision Making: Cognitive Models and Explanations

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Process tracing research is one of the ways in which descriptive decision science is trying to monitor the cognitive process that leads from information input to judgement or decision outcome. In this chapter we intend to focus on process tracing research dealing with multiattribute evaluation problems, a topic that has received considerable attention over the last decades (Westenberg and Koele, 1994). Multiattribute evaluation situations are defined by the following components. There is a judge, and there is a set of alternatives (objects or actions) about which information is available on a number of attributes (relevant characteristics of the alternatives; they are also called dimensions or criteria).

Ethical concerns about the possibility of subjects losing their money as well as practical considerations— researchers can rarely afford to act as a banker to cover their own potential losses—mean that the wins and losses involved tend to be either hypothetical or else merely token amounts of money. Tests of models often require that the subject ‘plays’ a large number of gambles one after the other, and it can be argued that this repetition of the task, typically without any feedback as to the outcomes of the gambles, further reduces the ecological validity of the task.

Within-groups variance consists of two components: individual differences and measurement error. Of course, individual differences cannot be reduced; they exist, and as such are worth investigating in their own right. In the next section it will be shown how the other component of within-group variance, measurement error, can be reduced, and how this results in more powerful tests. CONCLUDING REMARKS The main purpose of descriptive decision making research is to describe the true decision process of an individual as accurately as possible.

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