In this paper I examine Don Ross’s application of unificationism as a methodological criterion of theory appraisal in economics and cognitive science. Against Ross’s critique that explanations of the preference reversal phenomenon by the ‘heuristics and biases’ programme is ad hoc or ‘Ptolemaic’, I argue that the compatibility hypothesis, one of the explanations offerd by this programme, is theoretically and empirically well-motivated. A careful examination of this hypothesis suggests several strengths of a procedural approach to modelling cognitive processes underlying individual (...) decision making, compared to a multiple-agent approach which Ross promotes. I argue that the debate between economists and psychologists are both theoretical and empirical, but cannot be resolved by appealing to the ideal of unification. (shrink)

In this paper we present a modern version of the classic theory of “ultimate psychological hedonism” . As does the UPH, our two-dimensional model of metatelic orientations also postulates a fundamentally hedonistic motivation for any human action. However, it makes a distinction between “telic” or content-based goals of actions and “metatelic” or emotional reasons for actions. In our view, only the emotional reasons for action, but not the goals of action, conform to the UPH. After outlining our model, we will (...) elucidate the similarities and differences between our model and classic UPH. In this context we will clarify several basic misconceptions regarding classic UPH. In a next step, two major criticisms of the theory of ultimate psychological hedonism will be discussed, that is the statement that the hedonistic principle has no motivating effect at all and the argument that the hedonistic motivation is only one of many motivations of human actions. We believe that both of these arguments can be refuted. Finally, we will discuss the compatibility of our model with evolutionary theory. (shrink)

Why are people interested in money? Specifically, what could be the biological basis for the extraordinary incentive and reinforcing power of money, which seems to be unique to the human species? We identify two ways in which a commodity which is of no biological significance in itself can become a strong motivator. The first is if it is used as a tool, and by a metaphorical extension this is often applied to money: it is used instrumentally, in order to obtain (...) biologically relevant incentives. Second, substances can be strong motivators because they imitate the action of natural incentives but do not produce the fitness gains for which those incentives are instinctively sought. The classic examples of this process are psychoactive drugs, but we argue that the drug concept can also be extended metaphorically to provide an account of money motivation. From a review of theoretical and empirical literature about money, we conclude that (i) there are a number of phenomena that cannot be accounted for by a pure Tool Theory of money motivation; (ii) supplementing Tool Theory with a Drug Theory enables the anomalous phenomena to be explained; and (iii) the human instincts that, according to a Drug Theory, money parasitizes include trading (derived from reciprocal altruism) and object play. (Published Online April 5 2006) Key Words: economic behaviour; evolutionary psychology; giving; incentive; money; motivation; play; reciprocal altruism. (shrink)

Despite their popularity, dual process accounts of human reasoning and decision-making have come under intense scrutiny in recent years. Cognitive scientists and philosophers alike have come to question the theoretical foundations of the ‘standard view’ of dual process theory and have challenged the validity and relevance of evidence in support of it. Moreover, attempts to modify and refine dual process theory in light of these challenges have generated additional concerns about its applicability and refutability as a scientific theory. With these (...) concerns in mind, this paper provides a critical review of dual process theory in economics, focusing on its role as a psychological framework for decision modeling in behavioral economics and neuroeconomics. I argue that the influx of criticisms against dual process theory challenge the descriptive accuracy of dualistic decision models in economics. In fact, the case can be made that the popularity of dual process theory in economics has less to do with the empirical success of dualistic decision models, and more to do with the convenience that the dual process narrative provides economists looking to explain-away decision anomalies. This leaves behavioral economists and neuroeconomists with something of a dilemma: either they stick to their purported ambitions to give a realistic description of human decision-making and give up the narrative, or they revise and restate their scientific ambitions. (shrink)

We tend to seek immediate gratification at the expense of long-term reward. In fact, the more distant a reward is from the present moment?the more we tend to discount it. This phenomenon is known as temporal discounting. Engaging in mental time travel plausibly enables subjects to overcome temporal discounting, but it is unclear how, exactly, it does so. In this paper, we develop a framework designed to explain the effects of mental time travel on temporal discounting by showing how the (...) subject?s temporally extended self enables mental time travel to generate appropriate emotions that, in turn, via metacognitive monitoring and control, generate appropriate behaviours. Building on existing approaches we outline an initial framework, involving the concepts of emotion and the temporally extended self, to explain the effects of mental time travel on resisting temptation. We then show that this initial framework has difficulty explaining the effects of mental time travel on a closely related phenomenon, namely, overcoming procrastination. We next argue that, in order to explain these effects, the concept of emotion needs to be refined, and the concept of metacognition needs to be added to the framework: emotions involve an action-readiness component, which, through metacognitive monitoring and control, can enable the subject to resist temptation and overcome procrastination. Finally, we respond to an objection to our account?based on the somatic marker hypothesis?such that metacognition is not necessary to account for the role of emotions in decision-making. (shrink)

In this article I argue that most biases in argumentation and decision-making can and should be counteracted. Although biases can prove beneficial in certain contexts, I contend that they are generally maladaptive and need correction. Yet critical thinking alone seems insufficient to mitigate biases in everyday contexts. I develop a contextualist approach, according to which cognitive debiasing strategies need to be supplemented by extra-psychic devices that rely on social and environmental constraints in order to promote rational reasoning. Finally, I examine (...) several examples of contextual debiasing strategies and show how they can contribute to enhance critical thinking at a cognitive level. (shrink)

Suppose you resolve now to resist an expected temptation later while knowing that once the temptation arrives your preference or evaluative assessment will shift in favor of that temptation. Are there defensible norms of rational planning agency that support sticking with your prior intention in the face of such a shift at the time of temptation and in the absence of relevant new information? This article defends the idea that it might be rational to stick with your prior intention in (...) part because of your anticipation of regret in the further future if you were to give in to the temptation. It does this by appeal to the significance of anticipated future regret to the agent ’s present standpoint, and to the role of the agent ’s standpoint in her self-governance. (shrink)

Most authors who discuss willpower assume that everyone knows what it is, but our assumptions differ to such an extent that we talk past each other. We agree that willpower is the psychological function that resists temptations – variously known as impulses, addictions, or bad habits; that it operates simultaneously with temptations, without prior commitment; and that use of it is limited by its cost, commonly called effort, as well as by the person's skill at executive functioning. However, accounts are (...) usually not clear about how motivation functions during the application of willpower, or how motivation is related to effort. Some accounts depict willpower as the perceiving or formation of motivational contingencies that outweigh the temptation, and some depict it as a continuous use of mechanisms that interfere with re-weighing the temptation. Some others now suggest that impulse control can bypass motivation altogether, although they refer to this route as habit rather than willpower.It is argued here that willpower should be recognized as either or both of two distinct functions, which can be calledresolveandsuppression. Resolve is based on interpretation of a current choice as a test case for a broader set of future choices, which puts at stake more than the outcome of the current choice. Suppression is inhibiting valuation of (modulating) and/or keeping attention from (filtering) immediate alternatives to a current intention. Perception of current choices as test cases for broader outcomes may result in reliable preference for these outcomes, which is experienced as an effortlesshabit– a successful result of resolve, not an alternative method of self-control. Some possible brain imaging correlates are reviewed. (shrink)

ABSTRACT The list of proposed addictions has recently grown to include television, videogames, shopping, day trading, kleptomania, and use of the Internet. These activities share with a more established entry, gambling, the property that they require no delivery of a biological stimulus that might be thought to unlock a hardwired brain process. I propose a framework for analyzing that class of incentives that do not depend on the prediction of physically privileged environmental events: people have a great capacity to coin (...) endogenous reward; we learn to cultivate it, and, where it is entrapping, to minimize it, by managing internally generated appetites for it. The basic method of cultivating endogenous reward is to learn cues that predict when best to harvest the reward that has been made possible by the growth of these appetites. This hedonic management occurs in the same motivational marketplace as the instrumental planning that seeks environmental goods in the conventional manner, and presumably obeys the same laws of temporal difference learning; but these laws are no longer limiting. Furthermore, instrumental contingencies often provide the most productive structure for hedonic management as well, for reasons that I discuss; but the needs of hedonic management create incentives both to pursue instrumental goals in a suboptimal manner and to avoid noticing how the hedonic incentive affects this pursuit. The result is the apparent irrationality that is often observed in process addictions. (shrink)