Important social benefits of the market system are predicated on the assumption that consumers can effectively pursue their interest in the marketplace. Cause for concern exists to the extent that high consumption expenditures lead to relatively low levels of personal savings in the U.S. To the...

This paper presents a multi-agent simulation of the production of step-level public goods in social networks. In previous public goods experimental research the design of the sequence ordering of decisions have been limited because of the necessity of simplicity taking priority over realism,...

This article reports on an agent-based simulation of public participation in decision making about sustainability management. Agents were modeled as socially intelligent actors who communicate using a system of symbols. The goal of the simulation was for agents to reach consensus about which...

We report an experiment examining risk taking and information aggregation in groups. Group members come to the table with an individual preference for a choice under risk, based on privately received information, and can share this information with fellow group members. They then make a decision...

It is generally believed that management requires a high degree of analytical reasoning, and that great managers are usually professionals who have dedicated many years to acquire their skills and their interpretative schemes. However, when a manager is asked on how he can easily untangle the...

When designing an agent-based simulation, an important question to answer is how to model the decision making processes of the agents in the system. A large number of agent decision making models can be found in the literature, each inspired by different aims and research questions. In this...

Agent-based models are more likely to generate accurate outputs if they incorporate valid representations of human agents than if they don't. The present article outlines three research methodologies commonly used for explicating the cognitive processes and motivational orientations of human...

This paper, based on a current Europlacement-LLP project, proposes a hypothetical evaluation model for a European "Career Guidance and Internship Training" Service, integrating ethical, strategic and management thinking. The assessment system deals, in just a single summary document, with a...

Probability estimation is an essential cognitive function in perception, motor control, and decision making. Many studies have shown that when making decisions in a stochastic operant conditioning task, people and animals behave as if they underestimatethe probability of rare events. It is...

This paper is a contribution to the study of behavioral economics. It proposes a model of decision making process and includes the affective and cognitive systems, both them included when anyone evaluates the options to select one. First of all, a literature review was done. Secondly, an...