Moreover, it proposes a decision-making mechanism that provides means for incorporating risk in the decision-making process. To better emphasize the features of the proposed decision-making mechanism, the paper
Here, using data from a competition between academic teams to influence decision-making, the authors show that people, intending to maximize their profit, prefer options delivering rewards in a discoverable pattern, even when such a preference proves costly. ...
Humans and animals are not always rational. They not only rationally exploit rewards but also explore an environment owing to their curiosity. However, the mechanism of such curiosity-driven irrational behavior is largely unknown. Here, we developed a de
“Our premise in this report is that research on foundation models and interactive decision making can be mutually beneficial if considered jointly. On one hand, adaptation of foundation models to tasks that involve external entities can benefit from incorporating feedback interactively and performing lo...
4.1Decision Processes in Management Sciences Decision-making processes carried out when executing tasks of data management take place in different entities with different frequencies. These processes are found not only in enterprises and organizations, but also in various structures and entities as well ...
decision making, in which a large number of decision-makers take part in the decision-making process, has become a much-talked-about topic in decision science. Because of the characteristics of social Big Data, much more information in large-scale group decision making will arise than ...
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There are a range of abilities that are required, and a good Data Scientist is undoubtedly an asset, especially in a decisioning environment. There not only is the base expectation of modelling and analytics required, but also the knowledge of how decisioning works...
the scope of credit scoring processes. The increasing use of data in decision-making demonstrates an intentional shift away from the human judge. While still using an actuarial or statistical method, it now relies on conclusions from empirically established relations between data and conditions [66]...
Unexpectedly, we found that in the beliefs task, participants were not overly pessimistic about the outcome in the ambiguity condition and in fact closer to optimal levels of decision-making than in the risk conditions. While individual differences in pessimism could explain outcome expectancy, they ...