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Paper: Melioration dominates maximization
On 2006-08-23 by hneth With 0 Comments
- 2005–2009, cognitive science, English, experiment, JDM, modeling, paper, psychology, representation
| There is no reason to suppose that most human beings are engaged in maximizing anything unless it be unhappiness, and even this with incomplete success. |
| R.H. Coase (1980), The Firm, the Market, and the Law, p. 4 |
Hansjörg Neth, Chris R. Sims, Wayne D. Gray
Melioration dominates maximization: Stable suboptimal performance despite global feedback
Abstract: Situations that present individuals with a conflict between local and global gains often evoke a behavioral pattern known as melioration — a preference for immediate rewards over higher long-term gains. Using a variant of a binary forced- choice paradigm by Tunney & Shanks (2002), we explored the potential role of global feedback as a means to reduce this bias.