Overinterpreting Computational Models of Decision-Making

Bell (1985)Can a set of equations predict and quantify complex emotions resulting from financial decisions made in an uncertain environment? Aninfluential paper by David E. Bell considered the implications of disappointment, a psychological reaction caused by comparing an actual outcome to a more optimistic expected outcome, as in playing the lottery. Equations for regret, disappointment, elation, and satisfaction have been incorporated into economic models of financial decision-making (e.g., variants ofprospect theory).Financial choices comprise one critical aspect of decision-making in our daily lives. There are so many choices we make every day, from the proverbial option paralysis in the cereal aisle......to decisions about who to date, where to go on vacation, whether one should take a new job, change fields, start a business, move to a new city, get married, get divorced, have children (or not).And who to trust. Futuristic scenario below...Decision to TrustI just met someone at a pivotal meeting of theDryden Commission. We chatted beforehand and discovered we had some common ground. Plus he ' s brilliant, charming and witty.“Are you looking for an ally?” he asked. Neil, Laura and Stanley in Season 3 ofHumans Should I trust this person and go out to dinner with him? Time to ask my assistant Stanley, the orange-eyed (servile) Synthetic, an anthropomorphic robot with superior strength and computational abilities.Laura:“Stanley, was Dr. Sommer lying to me ju...
Source: The Neurocritic - Category: Neuroscience Authors: Source Type: blogs