The adaptive decision maker

Book•

The adaptive decision maker

John W. Payne¹, James R. Bettman¹, Eric Johnson²•Institutions (2)

Duke University¹, University of Pennsylvania²

01 Jan 1993-

TL;DR: The adaptive decision maker: a look backward and a look forward Appendix Footnotes Bibliography.

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Abstract: Preface 1. Adaptive decision behaviour: an introduction 2. Contingencies in decision making 3. Deciding how to decide: an effort/accuracy framework 4. Studying contingent decisions: an integrated methodology 5. Constructive processes in decision making 6. Why may adaptivity fail? 7. Improving decisions and other practical matters 8. The adaptive decision maker: a look backward and a look forward Appendix Footnotes Bibliography.

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Journal Article•DOI•

Determinants of Perceived Ease of Use: Integrating Control, Intrinsic Motivation, and Emotion into the Technology Acceptance Model

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Viswanath Venkatesh¹•Institutions (1)

University of Maryland, College Park¹

01 Dec 2000-Information Systems Research

TL;DR: This work presents and tests an anchoring and adjustment-based theoretical model of the determinants of system-specific perceived ease of use, and proposes control, intrinsic motivation, and emotion as anchors that determine early perceptions about the ease ofuse of a new system.

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Abstract: Much previous research has established that perceived ease of use is an important factor influencing user acceptance and usage behavior of information technologies. However, very little research has been conducted to understand how that perception forms and changes over time. The current work presents and tests an anchoring and adjustment-based theoretical model of the determinants of system-specific perceived ease of use. The model proposes control (internal and external--conceptualized as computer self-efficacy and facilitating conditions, respectively), intrinsic motivation (conceptualized as computer playfulness), and emotion (conceptualized as computer anxiety) as anchors that determine early perceptions about the ease of use of a new system. With increasing experience, it is expected that system-specific perceived ease of use, while still anchored to the general beliefs regarding computers and computer use, will adjust to reflect objective usability, perceptions of external control specific to the new system environment, and system-specific perceived enjoyment. The proposed model was tested in three different organizations among 246 employees using three measurements taken over a three-month period. The proposed model was strongly supported at all points of measurement, and explained up to 60% of the variance in system-specific perceived ease of use, which is twice as much as our current understanding. Important theoretical and practical implications of these findings are discussed.

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5,807 citations

Cites background from "The adaptive decision maker"

...In this context, it is important to highlight that a vast body of research in behavioral decision making (e.g., Payne et al. 1993) and IS (e.g., Todd and Benbasat 1991, 1992, 1993, 1994) demonstrate that individuals attempt to minimize effort in their behaviors, thus supporting a relationship…...
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...In the absence of specific knowledge, the heuristic suggests that individuals rely on general information that serves as an “anchor” and, in fact, individuals are often unable to ignore such anchoring...
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Journal Article•DOI•

Marketing in Hypermedia Computer-Mediated Environments: Conceptual Foundations

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Donna L. Hoffman¹, Thomas P. Novak¹•Institutions (1)

Vanderbilt University¹

01 Jan 1996-Journal of Marketing

TL;DR: The authors address the role of marketing in hypermedia computer-mediated environments by considering hypermedia CMEs to be large-scale (i.e., national or global) networked enviro...

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Abstract: The authors address the role of marketing in hypermedia computer-mediated environments (CMEs). Their approach considers hypermedia CMEs to be large-scale (i.e., national or global) networked enviro...

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4,695 citations

Journal Article•DOI•

Causation and Effectuation: Toward a Theoretical Shift from Economic Inevitability to Entrepreneurial Contingency

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Saras D. Sarasvathy¹•Institutions (1)

University of Washington¹

01 Apr 2001-Academy of Management Review

TL;DR: In economics and management theories, scholars have traditionally assumed the existence of artifacts such as firms/organizations and markets as mentioned in this paper, and they argue that an explanation for the creation of such artifacts requires the notion of effectuation.

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Abstract: In economics and management theories, scholars have traditionally assumed the existence of artifacts such as firms/organizations and markets. I argue that an explanation for the creation of such artifacts requires the notion of effectuation. Causation rests on a logic of prediction, effectuation on the logic of control. I illustrate effectuation through business examples and realistic thought experiments, examine its connections with existing theories and empirical evidence, and offer a list of testable propositions for future empirical work.

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4,438 citations

Book•

Simple Heuristics That Make Us Smart

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Gerd Gigerenzer¹, Peter M. Todd¹•Institutions (1)

Max Planck Society¹

01 Jan 1999

TL;DR: Fast and frugal heuristics as discussed by the authors are simple rules for making decisions with realistic mental resources and can enable both living organisms and artificial systems to make smart choices, classifications, and predictions by employing bounded rationality.

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Abstract: 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.

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4,384 citations

Cites background from "The adaptive decision maker"

...One major reason for this is that the typical experimental task eliminates search in the first place (but see e.g., Connolly & Gilani, 1982; Payne et al., 1993; Saad & Russo, 1996)....
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...More is thus known about the heuristic decision principles that people employ (e.g. Payne et al., 1993), and we have begun to investigate this with some of the fast and frugal heuristics described in the book as well....
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...This is the basic idea of the adaptive toolbox: the collection of specialized cognitive mechanisms that evolution has built into the human mind for specific domains of inference and reasoning, including fast and frugal heuristics (see also Bettman, 1979; Cosmides & Tooby, 1992; Payne et al., 1993)....
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...In their study of the "adaptive decision maker," Payne, Bettman, and Johnson (1993) studied the trade-off between accuracy and effort for various choice strategies, including lexicographic rules and Elimination by Aspects (Tversky, 1972)....
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Journal Article•DOI•

Construal-Level Theory of Psychological Distance

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Yaacov Trope¹, Nira Liberman²•Institutions (2)

New York University¹, Tel Aviv University²

01 Apr 2010-Psychological Review

TL;DR: Supporting this analysis, research shows that the various distances are cognitively related to each other, that theySimilarly influence and are influenced by level of mental construal, and that they similarly affect prediction, preference, and action.

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Abstract: People are capable of thinking about the future, the past, remote locations, another person's perspective, and counterfactual alternatives. Without denying the uniqueness of each process, it is proposed that they constitute different forms of traversing psychological distance. Psychological distance is egocentric: Its reference point is the self in the here and now, and the different ways in which an object might be removed from that point-in time, in space, in social distance, and in hypotheticality-constitute different distance dimensions. Transcending the self in the here and now entails mental construal, and the farther removed an object is from direct experience, the higher (more abstract) the level of construal of that object. Supporting this analysis, research shows (a) that the various distances are cognitively related to each other, (b) that they similarly influence and are influenced by level of mental construal, and (c) that they similarly affect prediction, preference, and action.

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4,114 citations

Cites result from "The adaptive decision maker"

...These findings are consistent with CLT and the more general view that valuation is a constructive process (see eg, Payne, Bettman, & Johnson, 1993; Shafir, Simonson, & Tversky, 1993; Weber et al,, 2007)....
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The adaptive decision maker

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