The psychological principles that govern the perception of decision problems and the evaluation of probabilities and outcomes produce predictable shifts of preference when the same problem is framed in different ways. Reversals of preference are demonstrated in choices regarding monetary outcomes, both hypothetical and real, and in questions pertaining to the loss of human lives. The effects of frames on preferences are compared to the effects of perspectives on perceptual appearance. The dependence of preferences on the formulation of decision problems is a significant concern for the theory of rational choice.

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The Framing of Decisions and the Psychology of Choice

Fast and frugal heuristics - simple rules for making decisions with realistic mental resources - are presented here. These heuristics can enable both living organisms and artificial systems to make smart choices, classifications, and predictions by employing bounded rationality. But when and how can such fast and frugal heuristics work? What heuristics are in the mind's adaptive toolbox, and what building blocks compose them? Can judgments based simply on a single reason be as accurate as those based on many reasons? Could less knowledge even lead to systematically better predictions than more knowledge? This book explores these questions by developing computational models of heuristics and testing them through experiments and analysis. It shows how fast and frugal heuristics can yield adaptive decisions in situations as varied as choosing a mate, dividing resources among offspring, predicting high school drop-out rates, and playing the stock market.

Simple Heuristics That Make Us Smart

By reducing the costs of coordination, information technology will lead to an overall shift toward proportionately more use of markets—rather than hierarchies—to coordinate economic activity.

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Electronic markets and electronic hierarchies

Many current neurophysiological, psychophysical, and psychological approaches to vision rest on the idea that when we see, the brain produces an internal representation of the world. The activation of this internal representation is assumed to give rise to the experience of seeing. The problem with this kind of approach is that it leaves unexplained how the existence of such a detailed internal representation might produce visual consciousness. An alternative proposal is made here. We propose that seeing is a way of acting. It is a particular way of exploring the environment. Activity in internal representations does not generate the experience of seeing. The outside world serves as its own, external, representation. The experience of seeing occurs when the organism masters what we call the governing laws of sensorimotor contingency. The advantage of this approach is that it provides a natural and principled way of accounting for visual consciousness, and for the differences in the perceived quality of sensory experience in the different sensory modalities. Several lines of empirical evidence are brought forward in support of the theory, in particular: evidence from experiments in sensorimotor adaptation, visual \"filling in,\" visual stability despite eye movements, change blindness, sensory substitution, and color perception.

A sensorimotor account of vision and visual consciousness-Authors' Response-Acting out our sensory experience

Will reading habit influence your life? Many say yes. Reading depth perception through motion is a good habit; you can develop this habit to be such interesting way. Yeah, reading habit will not only make you have any favourite activity. It will be one of guidance of your life. When reading has become a habit, you will not make it as disturbing activities or as boring activity. You can gain many benefits and importances of reading.

Depth perception through motion

Exploring predecisional behavior: An alternative approach to decision research

Previous research on visually induced self-motion found that stimulation of the central visual field (up to 30 degrees in diameter) results in perceived object motion while self-motion requires peripheral stimulation. In the present study, perceived self-motion was induced with a radially expanding pattern simulating observer motion through a space filled with dots, with visual angles of 7.5 degrees, 10.6 degrees, 15 degrees, and 21.2 degrees. Speed and texture density were also varied. The duration of reported self-motion (a) decreased with increased speed, (b) failed to increase with increased visual angle, and (c) decreased with visual angle at the highest speed level. In a second experiment, subjects rated the perceived depth of the displays. The speed and speed/area interaction effects on judged depth matched those found for induced self-motion. These results suggest an extension of the focal/ambient theory: In addition to a more primitive ambient processing mode that requires peripheral vision, there is a higher level system concerned with ambient processing that functions in the central visual field and uses more complex stimulus information, such as internal depth represented in a radially expanding pattern.

Induced self-motion in central vision.

The monitoring of information acquisition behavior, along with other process tracing measures such as response times, was used to examine how individuals process information about gambles into a decision. Subjects indicated preferences among specially constructed three-outcome gambles. The number of alternatives available was varied across the sets of gambles. A majority of the subjects processed information about the gambles in ways inconsistent with compensatory models of risky decision making, such as information integration (Anderson & Shanteau, 1970). Furthermore, the inconsistency between observed information acquisition behavior and such compensatory rules increased as the choice task became more complex. Alternative explanations of risky choice behavior are considered.

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Myron L. Braunstein

Papers

Depth perception through motion

Exploring predecisional behavior: An alternative approach to decision research

Induced self-motion in central vision.

Risky choice: An examination of information acquisition behavior.

Motion and texture as sources of slant information.