Etc. Frequency Processing and Cognition


Book Description

'This excellent collection provides the reader with a comprehensive coverage of findings and theories about how people encode and summarize frequency information. While it is a smorgasbord of self-contained chapters with little cross-referencing (or elaboration of disagreements), the high quality of the vast majority of these chapters yields a cognitive feast. They are written by eminent researchers who have opted to present both recent results and summaries of their most important work - certainly not the feared secondary idea or paper submitted because it would be easier to publish in an edited volume than in critically peer reviewed journal.' Robyn M. Dawes, Charles J. Queenan, Jr. University Professor, Department of Social and Decision Sciences, Carnegie Mellon University, USAFrom childhood, each of us develops our own personal set of theories and beliefs about the world in which we live. Given the impossibility of knowing about every event that can ever take place, we use cognitive short cuts to try to predict and make sense of the world around us. One of the fundamental pieces of information we use to predict future events, and make sense of past events, is 'frequency' - how often has such an event happened to us, or how often have we observed a particular event? With such information we will make inferences about the likelihood of its future appearance. We will make judgements, assess risk, or even consumer decisions, on the basis of this information. We also form associations between events that frequently occur together, and even (often incorrectly) attribute causality between one event and the other as a result of their simultaneous appearance. How is it though that we process such information? How does our brain deal with information on frequencies? How does such information influence our behaviour, beliefs, and judgements? Important new findings on this topic have come from research within both social and cognitive psychology, though until now, never brought together in a single volume. This is the first book to bring together two disparate literatures on this topic - drawing on research from both cognitive psychology and social psychology. Including contributions from world leaders in the field, this is a timely, and long overdue volume on this topic.




The Routines of Decision Making


Book Description

Experience is currently a hot theme in decision making. For a long time, decision research was almost exclusively focused on new decisions and neglected the importance of experience. It took the field until the 1990s for a new direction in research and theorizing to become visible in the literature. There are parallel movements happening in sociology, political science, social psychology, and business. The purpose of this edited book is to provide a balanced and representative overview of what is currently known about the dynamics of experienced-based decision making. The chapters are written by renowned experts in the field and provide the latest theoretical developments, integrative frameworks, and state-of-the-art reviews of research in the laboratory and in the field.




Information Sampling and Adaptive Cognition


Book Description

This book proposes that environmental information samples are biased and cognitive processes are not.




Intuition in Judgment and Decision Making


Book Description

The central goal of this volume is to bring the learning perspective into the discussion of intuition in judgment and decision making. The book gathers recent work on intuitive decision making that goes beyond the current dominant heuristic processing perspective. However, that does not mean that the book will strictly oppose this perspective. The unique perspective of this book will help to tie together these different conceptualizations of intuition and develop an integrative approach to the psychological understanding of intuition in judgment and decision making. Accordingly, some of the chapters reflect prior research from the heuristic processing perspective in the new light of the learning perspective. This book provides a representative overview of what we currently know about intuition in judgment and decision making. The authors provide latest theoretical developments, integrative frameworks and state-of-the-art reviews of research in the laboratory and in the field. Moreover, some chapters deal with applied topics. Intuition in Judgment and Decision Making aims not only at the interest of students and researchers of psychology, but also at scholars from neighboring social and behavioral sciences such as economy, sociology, political sciences, and neurosciences.




The Probabilistic Mind


Book Description

The Probabilistic Mind is a follow-up to the influential and highly cited Rational Models of Cognition (OUP, 1998). It brings together developmetns in understanding how, and how far, high-level cognitive processes can be understood in rational terms, and particularly using probabilistic Bayesian methods.




Taming Uncertainty


Book Description

An examination of the cognitive tools that the mind uses to grapple with uncertainty in the real world. How do humans navigate uncertainty, continuously making near-effortless decisions and predictions even under conditions of imperfect knowledge, high complexity, and extreme time pressure? Taming Uncertainty argues that the human mind has developed tools to grapple with uncertainty. Unlike much previous scholarship in psychology and economics, this approach is rooted in what is known about what real minds can do. Rather than reducing the human response to uncertainty to an act of juggling probabilities, the authors propose that the human cognitive system has specific tools for dealing with different forms of uncertainty. They identify three types of tools: simple heuristics, tools for information search, and tools for harnessing the wisdom of others. This set of strategies for making predictions, inferences, and decisions constitute the mind's adaptive toolbox. The authors show how these three dimensions of human decision making are integrated and they argue that the toolbox, its cognitive foundation, and the environment are in constant flux and subject to developmental change. They demonstrate that each cognitive tool can be analyzed through the concept of ecological rationality—that is, the fit between specific tools and specific environments. Chapters deal with such specific instances of decision making as food choice architecture, intertemporal choice, financial uncertainty, pedestrian navigation, and adolescent behavior.




Straight Choices


Book Description

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.




Cognitive Illusions


Book Description

Cognitive Illusions explores a wide range of fascinating psychological effects in the way we think, judge and remember in our everyday lives. Featuring contributions from leading researchers, the book defines what cognitive illusions are and discusses their theoretical status: are such illusions proof for a faulty human information-processing system, or do they only represent by-products of otherwise adaptive cognitive mechanisms? Throughout the book, background to phenomena such as illusions of control, overconfidence and hindsight bias are discussed, before considering the respective empirical research, potential explanations of the phenomenon, and relevant applied perspectives. Each chapter also features the detailed description of an experiment that can be used as classroom demonstration. Featuring six new chapters, this edition has been thoroughly updated throughout to reflect recent research and changes of focus within the field. This book will be of interest to students and researchers of cognitive illusions, specifically, those focusing on thinking, reasoning, decision-making and memory.




Handbook of Contemporary Behavioral Economics


Book Description

At a time when both scholars and the public demand explanations and answers to key economic problems that conventional approaches have failed to resolve, this groundbreaking handbook of original works by leading behavioral economists offers the first comprehensive articulation of behavioral economics theory. Borrowing from the findings of psychologists, sociologists, political scientists, legal scholars, and biologists, among others, behavioral economists find that intelligent individuals often tend not to behave as effectively or efficiently in their economic decisions as long held by conventional wisdom. The manner in which individuals actually do behave critically depends on psychological, institutional, cultural, and even biological considerations. "Handbook of Contemporary Behavioral Economics" includes coverage of such critical areas as the Economic Agent, Context and Modeling, Decision Making, Experiments and Implications, Labor Issues, Household and Family Issues, Life and Death, Taxation, Ethical Investment and Tipping, and Behavioral Law and Macroeconomics. Each contribution includes an extensive bibliography.




Critical Thinking in Psychology


Book Description

Explores key topics in psychology, showing how they can be critically examined.