Second, this collection of cognitive programs evolved in the Pleistocene to solve the adaptive problems regularly faced by our hunter-gatherer ancestors-...

This article described three heuristics that are employed in making judgements under uncertainty: representativeness, which is usually employed when people are asked to judge the probability that an object or event A belongs to class or process B; availability of instances or scenarios, which is often employed when people are asked to assess the frequency of a class or the plausibility of a particular development; and adjustment from an anchor, which is usually employed in numerical prediction when a relevant value (...) is available. These heuristics are highly economical and usually effective, but they lead to systematic and predictable errors. A better understanding of these heuristics and of the biases to which they lead could improve judgements and decisions in situations of uncertainty. (shrink)

ORIGIN OF SPECIES. INTRODUCTION. When on board HMS 'Beagle,' as naturalist, I was ranch struck with certain facts in the distribution of the organic beings ...

This book presents the definitive exposition of 'prospect theory', a compelling alternative to the classical utility theory of choice. Building on the 1982 volume, Judgement Under Uncertainty, this book brings together seminal papers on prospect theory from economists, decision theorists, and psychologists, including the work of the late Amos Tversky, whose contributions are collected here for the first time. While remaining within a rational choice framework, prospect theory delivers more accurate, empirically verified predictions in key test cases, as well as (...) helping to explain many complex, real-world puzzles. In this volume, it is brought to bear on phenomena as diverse as the principles of legal compensation, the equity premium puzzle in financial markets, and the number of hours that New York cab drivers choose to drive on rainy days. Theoretically elegant and empirically robust, this volume shows how prospect theory has matured into a new science of decision making. (shrink)

This text addresses the profound human questions of love and work. Beginning with a historical introduction, the author progresses through adaptive problems that humans face, and concludes by showing how evolutionary psychology encompasses all branches of psychology.

One of the main themes that has emerged from behavioral decision research during the past three decades is the view that people's preferences are often constructed in the process of elicitation. This idea is derived from studies demonstrating that normatively equivalent methods of elicitation (e.g., choice and pricing) give rise to systematically different responses. These preference reversals violate the principle of procedure invariance that is fundamental to all theories of rational choice. If different elicitation procedures produce different orderings of options, (...) how can preferences be defined and in what sense do they exist? This book shows not only the historical roots of preference construction but also the blossoming of the concept within psychology, law, marketing, philosophy, environmental policy, and economics. Decision making is now understood to be a highly contingent form of information processing, sensitive to task complexity, time pressure, response mode, framing, reference points, and other contextual factors. (shrink)

The mathematical theory of communication.

The following values have no corresponding Zotero field: PB - JSTOR.

Robert Boyd*†, Herbert Gintis‡, Samuel Bowles§, and Peter J. Richerson¶.

The various behavioral disciplines model human behavior in distinct and incompatible ways. Yet, recent theoretical and empirical developments have created the conditions for rendering coherent the areas of overlap of the various behavioral disciplines. The analytical tools deployed in this task incorporate core principles from several behavioral disciplines. The proposed framework recognizes evolutionary theory, covering both genetic and cultural evolution, as the integrating principle of behavioral science. Moreover, if decision theory and game theory are broadened to encompass other-regarding preferences, they (...) become capable of modeling all aspects of decision making, including those normally considered “psychological,” “sociological,” or “anthropological.” The mind as a decision-making organ then becomes the organizing principle of psychology. (Published Online April 27 2007) Key Words: behavioral game theory; behavioral science; evolutionary theory; experimental psychology; gene-culture coevolution; rational actor model; socialization. (shrink)

Robert Boyd*†, Herbert Gintis‡, Samuel Bowles§, and Peter J. Richerson¶.

The social exchange theory of reasoning, which is championed by Leda Cosmides and John Tooby, falls under the general rubric “evolutionary psychology” and asserts that human reasoning is governed by content-dependent, domain-specific, evolutionarily-derived algorithms. According to Cosmides and Tooby, the presumptive existence of what they call “cheater-detection” algorithms disconfirms the claim that we reason via general-purpose mechanisms or via inductively acquired principles. We contend that the Cosmides/Tooby arguments in favor of domain-specific algorithms or evolutionarily-derived mechanisms fail and that the notion (...) of a social exchange rule, which is central to their theory, is not correctly characterized. As a consequence, whether or not their conclusion is true cannot be established on the basis of the arguments they have presented. (shrink)

Despite their distinct objects of study, the human behavioral sciences all include models of individual human behavior. Unity in the behavioral sciences requires that there be a common underlying model of individual human behavior, specialized and enriched to meet the particular needs of each discipline. Such unity does not exist, and cannot be easily attained, since the various disciplines have incompatible models and disparate research methodologies. Yet recent theoretical and empirical developments have created the conditions for unity in the behavioral (...) sciences, incorporating core principles from all fields, and based upon theoretical tools (game theory and the rational actor model) and data gathering techniques (experimental games in the laboratory and field) that transcend disciplinary boundaries. This article sketches a set of principles aimed at fostering such a unity. Key Words: behavioral science • game theory • experimental economics • rational actor model. (shrink)