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Related Concept Videos

Decision Making01:20

Decision Making

Decision-making is a fundamental cognitive process that involves evaluating alternatives and selecting among them. This process can range from simple choices, such as deciding what to wear, to complex decisions, like choosing a major in college or a career path. The complexity of the decision often dictates the approach we use, which can be broadly categorized into two types: automatic and controlled decision-making.
Automatic decision-making is fast, intuitive, and relies on gut feelings...
Reason and Intuition01:37

Reason and Intuition

The human brain processes information for decision-making using one of two routes: an intuitive system and a rational system (Epstein, 1994; popularized by Kahneman, 2011 as System 1 and System 2, respectively). The intuitive system is quick, impulsive, and operates with minimal effort, relying on emotions or habits to provide cues for what to do next, while the rational system is logical, analytical, deliberate, and methodical. Research in neuropsychology suggests that the brain can only use...
Decision Making: Traditional Method01:14

Decision Making: Traditional Method

The process of hypothesis testing based on the traditional method includes calculating the critical value, testing the value of the test statistic using the sample data, and interpreting these values.
First, a specific claim about the population parameter is decided based on the research question and is stated in a simple form. Further, an opposing statement to this claim is also stated. These statements can act as null and alternative hypotheses, out of which a null hypothesis would be a...
Multi-input and Multi-variable systems01:22

Multi-input and Multi-variable systems

Cruise control systems in cars are designed as multi-input systems to maintain a driver's desired speed while compensating for external disturbances such as changes in terrain. The block diagram for a cruise control system typically includes two main inputs: the desired speed set by the driver and any external disturbances, such as the incline of the road. By adjusting the engine throttle, the system maintains the vehicle's speed as close to the desired value as possible.
In the absence of...
Decision Making: P-value Method01:09

Decision Making: P-value Method

The process of hypothesis testing based on the P-value method includes calculating the P- value using the sample data and interpreting it.
First, a specific claim about the population parameter is proposed. The claim is based on the research question and is stated in a simple form. Further, an opposing statement to the claim  is also stated. These statements can act as null and alternative hypotheses:  a null hypothesis would be a neutral statement while the alternative hypothesis can have a...
Control Systems01:10

Control Systems

Control systems are everywhere in contemporary society, influencing diverse applications from aerospace to automated manufacturing. These systems can be found naturally within biological processes, such as blood sugar regulation and heart rate adjustment in response to stress, as well as in man-made systems like elevators and automated vehicles. A control system is essentially a network of subsystems and processes that collaboratively convert specific inputs into desired outputs.
At the heart...

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Operant Protocols for Assessing the Cost-benefit Analysis During Reinforced Decision Making by Rodents
07:05

Operant Protocols for Assessing the Cost-benefit Analysis During Reinforced Decision Making by Rodents

Published on: September 10, 2018

Multiple systems in decision making.

Alan G Sanfey1, Luke J Chang

  • 1Department of Psychology, University of Arizona, 1503 E. University Boulevard, Tucson AZ 85721, USA. asanfey@u.arizona.edu

Annals of the New York Academy of Sciences
|May 13, 2008
PubMed
Summary
This summary is machine-generated.

Neuroeconomics integrates psychology, economics, and neuroscience to study decision-making. Research suggests distinct automatic and controlled processing levels in the brain, aligning with dual-processing theories.

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Area of Science:

  • Neuroeconomics
  • Cognitive Neuroscience
  • Decision Science

Background:

  • Decision-making research increasingly integrates psychology, economics, and neuroscience.
  • Dual-processing theories in cognitive psychology propose automatic and controlled processing components.
  • Behavioral evidence supports distinct automatic and controlled processing in judgment and decision-making.

Purpose of the Study:

  • To discuss behavioral evidence for dissociating automatic and controlled processing in decision-making.
  • To review recent literature on potential neural substrates for these processing components.

Main Methods:

  • Literature review of behavioral studies on decision-making.
  • Synthesis of findings from neuroeconomics and cognitive psychology.
  • Examination of research on neural correlates of cognitive processes.

Main Results:

  • Behavioral studies provide strong support for distinct automatic and controlled processing in decision-making.
  • Evidence for a corresponding neural substrate is still debated among researchers.
  • Potential neural systems underlying these processes are under investigation.

Conclusions:

  • The concept of dual processing in decision-making is supported by behavioral data.
  • Further research is needed to establish distinct neural bases for automatic and controlled processing.
  • Neuroeconomics offers a framework for exploring the neural underpinnings of complex decision-making.