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Cognitive Processes in Choice and Decision Behavior

Cognitive Processes in Choice and Decision Behavior
Author: Thomas S. Wallsten
Publisher: Taylor & Francis
Total Pages: 304
Release: 2024-05-01
Genre: Psychology
ISBN: 104002551X

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Decision theory is a uniquely interdisciplinary field of study with contributions from economics, statistics, mathematics, philosophy, operations research, and psychology. The 1970s had seen important changes in research on behavioral decision theory in terms of a shift from a reliance on economic and statistical models to an emphasis on concepts drawn from cognitive psychology. Originally published in 1980, Cognitive Processes in Choice and Decision Behavior contains papers that explore the reasons why these changes had come about and discuss the future directions to which they pointed. It was clear at the time that research in behavioral decision theory was changing dramatically. The chapters in this book represent a good assessment of the reasons the changes were coming about and some of the merits and problems of the directions in which it was moving. Today it can be read in its historical context.


Cognitive Choice Modeling

Cognitive Choice Modeling
Author: Zheng Joyce Wang
Publisher: MIT Press
Total Pages: 305
Release: 2021-03-09
Genre: Science
ISBN: 0262361655

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The emerging interdisciplinary field of cognitive choice models integrates theory and recent research findings from both decision process and choice behavior. Cognitive decision processes provide the interface between the environment and brain, enabling choice behavior, and the basic cognitive mechanisms underlying decision processes are fundamental to all fields of human activity. Yet cognitive processes and choice processes are often studied separately, whether by decision theorists, consumer researchers, or social scientists. In Cognitive Choice Modeling, Zheng Joyce Wang and Jerome R. Busemeyer introduce a new cognitive modeling approach to the study of human choice behavior. Integrating recent research findings from both cognitive science and choice behavior, they lay the groundwork for the emerging interdisciplinary field of cognitive choice modeling.


Anthropological Approaches to Understanding Consumption Patterns and Consumer Behavior

Anthropological Approaches to Understanding Consumption Patterns and Consumer Behavior
Author: Chkoniya, Valentina
Publisher: IGI Global
Total Pages: 546
Release: 2020-04-03
Genre: Business & Economics
ISBN: 1799831175

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Anthropology is a science specialized in the study of the past and present of societies, especially the study of humans and human behavior. The disciplines of anthropology and consumer research have long been separated; however, it is now believed that joining them will lead to a more profound knowledge and understanding of consumer behaviors and will lead to further understanding and predictions for the future. Anthropological Approaches to Understanding Consumption Patterns and Consumer Behavior is a cutting-edge research publication that examines an anthropological approach to the study of the consumer and as a key role to the development of societies. The book also provides a range of marketing possibilities that can be developed from this approach such as understanding the evolution of consumer behavior, delivering truly personalized customer experiences, and potentially creating new products, brands, and services. Featuring a wide range of topics such as artificial intelligence, food consumption, and neuromarketing, this book is ideal for marketers, advertisers, brand managers, consumer behavior analysts, managing directors, consumer psychologists, academicians, social anthropologists, entrepreneurs, researchers, and students.


Behavioral Decision Making

Behavioral Decision Making
Author: George Wright
Publisher: Springer Science & Business Media
Total Pages: 570
Release: 2013-03-11
Genre: Psychology
ISBN: 1461323916

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Judgment, Decision, and Choice

Judgment, Decision, and Choice
Author: Howard Rachlin
Publisher:
Total Pages: 312
Release: 1989
Genre: Psychology
ISBN:

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This book views both cognitive and behavioural theories and experiments in an historical and philosophical context. Current theory and practice are presented as part of an ongoing effort to understand voluntary human behaviour with roots as deep as those of western civilization. Cognitive and behavioural approaches are viewed as complementary (rather than competing) descriptions of judgement, decision and choice.


The Cognitive Dynamics Underlying Decision-making

The Cognitive Dynamics Underlying Decision-making
Author: Kanghoon Jung
Publisher:
Total Pages: 322
Release: 2014
Genre:
ISBN:

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A fundamental question in decision neuroscience is how cognitive processes underlying decision-making give rise to efficient decisions, especially in complex situations with multiple choice options, and each option consisting of multiple attributes such as outcome, cost, and uncertainty. These cognitive processes include attention, learning, and memory. While much is known about each process individually, less is known about how they interact: that is, the underlying cognitive dynamics. The present thesis aims to provide an integrated framework for understanding the cognitive dynamics at the behavioral, computational, and neural levels. Behavioral studies presented in this thesis investigated the influences of attention, memory, and reward on decision-making by quantitatively characterizing dynamic modulations of two critical components of choice behavior: bias (i.e., the skew of the choice distribution across options) and persistence (i.e. repeated choices). These studies provide evidence that attentional and motivational control guide multi-attribute decisions by selecting attributes to maximize payoff or minimize effort, and by generating robust persistent actions. In addition, memory related to recollection and familiarity influences choice bias and persistence, respectively. A computational model that accounts for attentional and motivational control based on the multi-attribute choice context is then presented. The model captured behavioral data, and suggests that (a) choices are selectively biased toward more distinct attributes; and (b) persistence results from memory-dependent learning rates. Finally, using single-unit recordings, this thesis directly explored neuronal representations of subjective utility during decisions under uncertainty in the lateral prefrontal cortex, a high-level cognition area of the brain. This study provides evidence that lateral prefrontal neurons code expected value and uncertainty of choices. By combining approaches from psychology, economics, and computational and systems neuroscience, this thesis provides a significantly improved characterization of the cognitive dynamics that, when in harmony, contribute to better decisions.


Cognitive Processes and Economic Behaviour

Cognitive Processes and Economic Behaviour
Author: Marcello Basili
Publisher: Routledge
Total Pages: 263
Release: 2012-12-06
Genre: Business & Economics
ISBN: 1134362285

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In recent years the understanding of the cognitive foundations of economic behavior has become increasingly important. This volume contains contributions from such leading scholars as Adam Brandenburger, Michael Bacharach and Patrick Suppes. It will be of great interest to academics and researchers involved in the field of economics and psychology as well as those interested in political economy more generally.


Process and Structure in Human Decision Making

Process and Structure in Human Decision Making
Author: Henry Montgomery
Publisher:
Total Pages: 342
Release: 1989-04-24
Genre: Education
ISBN:

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Fourteen contributors from six countries present recent research results in the study of decision-making processes. They address cognitive and evaluative issues involved in human choice and judgement. Several studies model how decision makers represent and structure information involved in making choices. Others discuss theory, methods, or group decision making.


Straight Choices

Straight Choices
Author: Ben R. Newell
Publisher: Psychology Press
Total Pages: 344
Release: 2015-06-12
Genre: Psychology
ISBN: 1317538854

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Should I have this medical treatment or that one? Is this computer a better buy than that one? Should I invest in shares or keep my money under the bed? We all face a perplexing array of decisions every day. Thoroughly revised and updated throughout, the new edition of Straight Choices provides an integrative account of the psychology of decision-making, and shows how psychological research can help us understand our uncertain world. Straight Choices emphasises the relationship between learning and decision-making, arguing that the best way to understand how and why decisions are made is in the context of the learning and knowledge acquisition which precedes them, and the feedback which follows. The mechanisms of learning and the structure of environments in which decisions are made are carefully examined to explore their impact on our choices. The authors then consider whether we are all constrained to fall prey to cognitive biases, or whether, with sufficient exposure, we can find optimal decision strategies and improve our decision making. Featuring three completely new chapters, this edition also contains student-friendly overviews and recommended readings in each chapter. It will be of interest to students and researchers in cognitive psychology, behavioral economics, and the decision sciences, as well as anyone interested in the nature of decision making.


Neuroeconomics, Judgment, and Decision Making

Neuroeconomics, Judgment, and Decision Making
Author: Evan A. Wilhelms
Publisher: Psychology Press
Total Pages: 383
Release: 2014-07-11
Genre: Psychology
ISBN: 1317652738

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This volume explores how and why people make judgments and decisions that have economic consequences, and what the implications are for human well-being. It provides an integrated review of the latest research from many different disciplines, including social, cognitive, and developmental psychology; neuroscience and neurobiology; and economics and business. The book has six areas of focus: historical foundations; cognitive consistency and inconsistency; heuristics and biases; neuroeconomics and neurobiology; developmental and individual differences; and improving decisions. Throughout, the contributors draw out implications from traditional behavioral research as well as evidence from neuroscience. In recent years, neuroscientific methods have matured, beyond being simply correlational and descriptive, into theoretical prediction and explanation, and this has opened up many new areas of discovery about economic behavior that are reviewed in the book. In the final part, there are applications of the research to cognitive development, individual differences, and the improving of decisions. The book takes a broad perspective and is written in an accessible way so as to reach a wide audience of advanced students and researchers interested in behavioral economics and related areas. This includes neuroscientists, neuropsychologists, clinicians, psychologists (developmental, social, and cognitive), economists and other social scientists; legal scholars and criminologists; professionals in public health and medicine; educators; evidence-based practitioners; and policy-makers.