Risk-Sensitive Decision making Examined within an Evolutionary Framework
Bibliographic Data
| ID | 3758853 |
|---|---|
| Authors | Catrin Rode (Max Planck Institute for Human Development, Berlin), X T Wang (0000-0003-1706-2446, University of South Dakota), Xt Wang (University of South Dakota) |
| Year | 2000 |
| Volume | 43 |
| Issue | 6 |
| Pages | 926-939 |
| Publication date | 2000-03-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | American Behavioral Scientist (JOURNAL) |
| Journal identifiers | ISSN: 0002-7642 • E-ISSN: 1552-3381 |
| Publisher | SAGE Publications Inc (PUBLISHER) |
| DOI | 10.1177/00027640021955676 |
| OpenAlex | W2025094961 |
| Language | EN |
| Citations received | 8 |
| References cited | 28 |
Two examples of human decision-making biases are reexamined from an evolutionary perspective. The framing effect and ambiguity avoidance effect both violate core assumptions of normative models of rational decision making. These violations were often used to showcase that the human mind is predisposed against optimal decision making. The authors argue that the human mind is fine-tuned to solve complex decision tasks that had been recurrent in hominid evolution. By studying the biases within the framework of risk-sensitivity theory, they demonstrate that humans take into account the mean outcome of an option, the variability of the outcome, and their current goal to arrive at a decision that is most likely to guarantee survival. Thus, an evolutionary approach helps us reveal important features of human choice behavior and provides insights into the nature of human decision rationality
Ambiguity · Decision analysis · Decision theory · Decision tree · Economics · Epistemology · Framing (construction) · Framing effect · Management science · Mathematical economics · Microeconomics · Normative · Optimal decision · Outcome (game theory) · Perspective (graphical) · Rationality · Artificial Intelligence · Computer Science · Decision-Making and Behavioral Economics · Evolutionary Game Theory and Cooperation · Experimental Behavioral Economics Studies · Psychology · Social Psychology
Psychological sources of ambiguity avoidance
The modularity of thought and the epidemiology of representations
Recent developments in modeling preferences
Coevolution of neocortical size, group size and language in humans
Origins of domain specificity
On narrow norms and vague heuristics
The genetical evolution of social behaviour. I
Risk, Ambiguity, and the Savage Axioms
The Framing of Decisions and the Psychology of Choice
The Evolution of Reciprocal Altruism
The Modularity of Mind
Love and hate
Perceived social context and risk preference
Mapping the Mind
Violence and Sociality in Human Evolution [and Comments and Replies]
The Explanation of Culture Change
The Prehistory of the Mind
| Unique citing works | 8 |
|---|---|
| Citations per year | 0,31 |
| Citation span | 2000 - 2014 (15) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 6 |