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Social Rationality
In behavioural sciences, social rationality is a type of decision strategy used in social contexts, in which a set of simple rules is applied in complex and uncertain situations. Social rationality is a form of bounded rationality applied to social contexts, where individuals make choices and predictions under uncertainty.Hertwig, Hoffrage, & the ABC Research Group, 2012 While game theory deals with well-defined situations, social rationality explicitly deals with situations in which not all alternatives, consequences, and event probabilities can be foreseen. The idea is that, similar to non-social environments, individuals rely, and should rely, on ''fast and frugal heuristics'' in order to deal with complex and genuinely uncertain social environments. This emphasis on simple rules in an uncertain world contrasts with the view that the complexity of social situations requires highly sophisticated mental strategies, as has been assumed in primate researchHumphrey, 1988 and neurosc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Behavioural Sciences
Behavioural science is the branch of science concerned with human behaviour.Hallsworth, M. (2023). A manifesto for applying behavioural science. ''Nature Human Behaviour'', ''7''(3), 310-322. While the term can technically be applied to the study of behaviour amongst all living organisms, it is nearly always used with reference to humans as the primary target of investigation (though animals may be studied in some instances, e.g. invasive techniques). The behavioural sciences sit in between the conventional natural sciences and social studies in terms of scientific rigor. It encompasses fields such as psychology, neuroscience, linguistics, and economics.Sanders, M., Snijders, V., & Hallsworth, M. (2018). Behavioural science and policy: where are we now and where are we going?. ''Behavioural Public Policy'', ''2''(2), 144-167. Scope The behavioural sciences encompass both natural and social scientific disciplines, including various branches of psychology, neuroscience and bi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Social Heuristics
Social heuristics are simple decision making strategies that guide people's behavior and decisions in the social environment when time, information, or cognitive resources are scarce. Social environments tend to be characterised by complexity and uncertainty, and in order to simplify the decision-making process, people may use heuristics, which are decision making strategies that involve ignoring some information or relying on simple rules of thumb. The class of phenomena described by social heuristics overlap with those typically investigated by social psychology and game theory. At the intersection of these fields, social heuristics have been applied to explain cooperation in economic games used in experimental research. In the view of the field's academics, cooperation is typically advantageous in daily life, and therefore people develop a cooperation heuristic that gets applied even to one-shot anonymous interactions (the "social heuristics hypothesis" of human cooperation). ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Behavioral Economics
Behavioral economics is the study of the psychological (e.g. cognitive, behavioral, affective, social) factors involved in the decisions of individuals or institutions, and how these decisions deviate from those implied by traditional economic theory. Behavioral economics is primarily concerned with the bounds of rationality of economic agents. Behavioral models typically integrate insights from psychology, neuroscience and microeconomic theory. Behavioral economics began as a distinct field of study in the 1970s and 1980s, but can be traced back to 18th-century economists, such as Adam Smith, who deliberated how the economic behavior of individuals could be influenced by their desires. The status of behavioral economics as a subfield of economics is a fairly recent development; the breakthroughs that laid the foundation for it were published through the last three decades of the 20th century. Behavioral economics is still growing as a field, being used increasingly in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Max Planck Institute For Human Development
The Max Planck Institute for Human Development (Max-Planck-Institut für Bildungsforschung) (MPIB) is a social science research organization. Located in Berlin, it is one of over 80 institutions run by the Max Planck Society. It was initiated in 1961 and officially began operations in 1963 under the name Institute for Educational Research in the Max Planck Society, before receiving its current name in 1971. Its first director was Hellmut Becker. The institute is part of the Human Sciences Section of the Max Planck Society. Research activities focus on the development and education of humans, with an emphasis on basic research. The concept of education is defined broadly, embracing both formal educational processes as well as developmental processes from childhood to old age. Currently, around 350 employees contribute to interdisciplinary research in four research centers, and three research groups. ''Research Centers'' * Center for Adaptive Rationality (director in 2025: Ral ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Uncertainty
Uncertainty or incertitude refers to situations involving imperfect or unknown information. It applies to predictions of future events, to physical measurements that are already made, or to the unknown, and is particularly relevant for decision-making. Uncertainty arises in partially observable or stochastic environments, as well as due to ignorance, Laziness, indolence, or both. It arises in any number of fields, including insurance, philosophy, physics, statistics, economics, finance, medicine, psychology, sociology, engineering, metrology, meteorology, ecology and information science. Concepts Although the terms are used in various ways among the general public, many specialists in decision theory, statistics and other quantitative fields have defined uncertainty, risk, and their measurement as: Uncertainty The lack of certainty, a state of limited knowledge where it is impossible to exactly describe the existing state, a future outcome, or more than one possible outcome. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Risk
In simple terms, risk is the possibility of something bad happening. Risk involves uncertainty about the effects/implications of an activity with respect to something that humans value (such as health, well-being, wealth, property or the environment), often focusing on negative, undesirable consequences. Many different definitions have been proposed. One ISO standard, international standard definition of risk is the "effect of uncertainty on objectives". The understanding of risk, the methods of assessment and management, the descriptions of risk and even the definitions of risk differ in different practice areas (business, economics, Environmental science, environment, finance, information technology, health, insurance, safety, security, security, privacy, etc). This article provides links to more detailed articles on these areas. The international standard for risk management, ISO 31000, provides principles and general guidelines on managing risks faced by organizations. Defi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Optimization
Mathematical optimization (alternatively spelled ''optimisation'') or mathematical programming is the selection of a best element, with regard to some criteria, from some set of available alternatives. It is generally divided into two subfields: discrete optimization and continuous optimization. Optimization problems arise in all quantitative disciplines from computer science and engineering to operations research and economics, and the development of solution methods has been of interest in mathematics for centuries. In the more general approach, an optimization problem consists of maxima and minima, maximizing or minimizing a Function of a real variable, real function by systematically choosing Argument of a function, input values from within an allowed set and computing the Value (mathematics), value of the function. The generalization of optimization theory and techniques to other formulations constitutes a large area of applied mathematics. Optimization problems Opti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ecological Rationality
Ecological rationality is a particular account of practical rationality, which in turn specifies the norms of rational action – what one ought to do in order to act rationally. The presently dominant account of practical rationality in the social and behavioral sciences such as economics and psychology, rational choice theory, maintains that practical rationality consists in making decisions in accordance with some fixed rules, irrespective of context. Ecological rationality, in contrast, claims that the rationality of a decision depends on the circumstances in which it takes place, so as to achieve one's goals in this particular context. What is considered rational under the rational choice account thus might not always be considered rational under the ecological rationality account. Overall, rational choice theory puts a premium on internal logical consistency whereas ecological rationality targets external performance in the world. The term ecologically rational is only etymolog ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tit-for-tat
Tit for tat is an English saying meaning "equivalent retaliation". It is an alternation (linguistics), alternation of ''wikt:tip#Noun 3, tip for wikt:tap#Verb 2, tap'' "blow for blow", first recorded in 1558. It is also a highly effective strategy in game theory. An intelligent agent, agent using this strategy will first cooperate, then subsequently replicate an opponent's previous action. If the opponent previously was cooperative, the agent is cooperative. If not, the agent is not. This is similar to reciprocal altruism in biology. Game theory Tit-for-tat has been very successfully used as a strategy for the iterated prisoner's dilemma. The strategy was first introduced by Anatol Rapoport in Robert Axelrod (political scientist), Robert Axelrod's two tournaments, held around 1980. Notably, it was (on both occasions) both the simplest strategy and the most successful in direct competition. Few have extended the game theoretical approach to other applications such as finance. In ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Decision Strategy
Decision theory or the theory of rational choice is a branch of probability, economics, and analytic philosophy that uses expected utility and probability to model how individuals would behave rationally under uncertainty. It differs from the cognitive and behavioral sciences in that it is mainly prescriptive and concerned with identifying optimal decisions for a rational agent, rather than describing how people actually make decisions. Despite this, the field is important to the study of real human behavior by social scientists, as it lays the foundations to mathematically model and analyze individuals in fields such as sociology, economics, criminology, cognitive science, moral philosophy and political science. History The roots of decision theory lie in probability theory, developed by Blaise Pascal and Pierre de Fermat in the 17th century, which was later refined by others like Christiaan Huygens. These developments provided a framework for understanding risk and uncertain ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Social Circle
In the social sciences, a social group is defined as two or more people who interact with one another, share similar characteristics, and collectively have a sense of unity. Regardless, social groups come in a myriad of sizes and varieties. For example, a society can be viewed as a large social group. The system of behaviors and psychological processes occurring within a social group or between social groups is known as group dynamics. Definition Social cohesion approach A social group exhibits some degree of social cohesion and is more than a simple collection or aggregate of individuals, such as people waiting at a bus stop, or people waiting in a line. Characteristics shared by members of a group may include interests, values, representations, ethnic or social background, and kinship ties. Kinship ties being a social bond based on common ancestry, marriage or adoption. In a similar vein, some researchers consider the defining characteristic of a group as social interac ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Equality Heuristic
Equality generally refers to the fact of being equal, of having the same value. In specific contexts, equality may refer to: Society * Egalitarianism, a trend of thought that favors equality for all people ** Political egalitarianism, in which all members of a society are of equal standing * Equal opportunity, a stipulation that all people should be treated similarly * Equality of outcome, in which the general conditions of people's lives are similar * Substantive equality, Equality of outcome for groups * For specific groups: ** Gender equality ** Racial equality * Social equality, in which all people within a group have the same status * Economic inequality * Equality Party (other), several political parties * Consociationalism, in which an ethnically, religiously, or linguistically divided state functions by cooperation of each group's elites Law * Equality before the law, the principle under which all people are subject to the same laws * Equality Act (disambiguati ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
