Towards a theory of decision-making with paradoxes.
Conference paper
Belavkin, R. 2006. Towards a theory of decision-making with paradoxes. Proceedings of the Seventh International Conference on Cognitive Modelling. Trieste, Italy 2006 pp. 38-43
| Type | Conference paper |
|---|---|
| Title | Towards a theory of decision-making with paradoxes. |
| Authors | Belavkin, R. |
| Abstract | Human subjects often violate the rational decision-making theory, which is based on the notion of expected utility and axioms of choice (Neuman & Morgenstern, 1944; Savage, 1954). The counterexamples, suggested by Allais (1953) and Ellsberg (1961), deserve special attention because they point at our lack of understanding of how humans make decisions. The paradoxes of decision-making are particularly important for the ACT-R theory which currently relies on expected utility. The paper presents two alternative methods: a random prediction method that uses subsymbolic computations and a method that uses symbolic reasoning for qualitative decision-making. Both methods are tested on ACT-R models of the paradoxes, and the advantages of each method are discussed. |
| Research Group | Artificial Intelligence group |
| Conference | Proceedings of the Seventh International Conference on Cognitive Modelling |
| Page range | 38-43 |
| Publication dates | |
| 2006 | |
| Publication process dates | |
| Deposited | 08 Sep 2008 |
| Output status | Published |
| Accepted author manuscript | |
| Language | English |
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