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Beyond quantified ignorance : rebuilding rationality without the bias bias

Brighton, Henry - 2019

theory of ecological rationality. The main casualty of this rebuilding process is optimality. Once we view optimality as a …

Persistent link: https://www.econbiz.de/10011990913

Risks of observable and unobservable biases in artificial intelligence predicting consumer choice

Teleaba, Florian; Popescu, Sorin; Olaru, Marieta; … - In: Amfiteatru economic : an economic and business research … 23 (2021) 56, pp. 102-119

Companies are increasingly adopting Artificial Intelligence (AI) today. Recently however debates started over the risk … incipient and focuses on observable biases. We provide a short synthesis of cognitive biases and their potential risk of being … replicated in AI-based choice prediction. We also discuss for the first time the risk of unobservable biases, which affect choice …

Persistent link: https://www.econbiz.de/10012821258

The effect of uncertainty on negative discounting

Palenik, Marcin - In: International journal of management and economics 57 (2021) 4, pp. 287-298

The preference to receive benefits as early as possible and delay costs as much as possible is natural for people. That means a positive discount rate in the intertemporal choice, which is a common assumption in economics. However, as research in behavioral economics proves, in certain...

Persistent link: https://www.econbiz.de/10012821522

The role of interpersonal uncertainty in prosocial behavior

Chakraborty, Anujit; Henkel, Luca - 2025

In prosocial decisions, decision-makers face interpersonal uncertainty - uncertainty about how their choices impact others' utility. We use three approaches to show how it shapes classic patterns of prosocial behavior like ingroup favoritism, merit-based fairness, and self-favoring behavior....

Persistent link: https://www.econbiz.de/10015199844

Rational Decision-Making under Uncertainty : Observed Betting Patterns on a Biased Coin

Haghani, Victor - 2016

words of Ed Thorp, who gave us helpful feedback on our research: ‘This is a great experiment for many reasons. It ought to …

Persistent link: https://www.econbiz.de/10012980760

Statistical foundations of ecological rationality

Brighton, Henry - 2020

theory of ecological rationality. The main casualty of this rebuilding process is optimality. Once we view optimality as a …

Persistent link: https://www.econbiz.de/10012159880

Behavioral Finance : The Aversion to Uncertainty Bias in Individual Financial Decisions

Fernandes, Jose L. B.; Fernandes, Taynara; Matsumoto, … - 2015

This research verifies the existence of the aversion to uncertainty bias in individual financial decisions. It also … evaluates the effects of gender and knowledge in this bias. We considered a sample of 80 undergraduate management students from … Universidade Católica de Brasília. The results supported the existence of the uncertainty bias amongst individuals facing financial …

Persistent link: https://www.econbiz.de/10014138921