Learning in dynamic decision tasks: computational model and empirical evidence

Article Abstract:

A computational model provided the structure and a single learning mechanism that explains how decision makers may formulate and create a knowledge base of the task structure while undertaking dynamic decision tasks. The model also shows two parallel distributed processing submodels that learned on-line and integrated in series. The neural networks models show a learning mechanism from feedback and graded generalization observed in some instances during training.

Behavior Theory, Decision-making, Models, Decision making, Computer networks, Neural networks, Learning, Human behavior, Teaching models

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The effect of multiple reference points and prior gains and losses on managers' risky decision making

Article Abstract:

The influence of multiple reference points and prior gains and losses on the risky decision making behavior of managers is studied. Results show that the existence of multiple reference points create a pattern of risky behavior, wherein risk acceptance or avoidance decisions are based on the relative positions of risky alternatives with respect to two points of reference. Risk also became more acceptable after prior gain rather than prior loss.

Research, Multiple criteria decision making, Risk assessment, Executives

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