Forum for Science, Industry and Business

Sponsored by:     3M 
Search our Site:

 

Decision making, is it all 'me, me, me'?

29.04.2008
Psychologists find evidence that it’s not.

People act in their own best interests, according to traditional views of how and why we make the decisions that we do.

However, psychologists at the Universities of Leicester and Exeter have recently found evidence that this assumption is not necessarily true. In fact the research, funded by the Economic and Social Research Council, shows that most of us will act in the best interest of our team – often at our own expense.

Psychologists carried out the first systematic tests of team reasoning theories by assessing two well known views of how people behave:

*That predicts people will act for selfish reasons
*That people will act in the best interest of their “team”
Lead researcher Professor Andrew Colman, of the University of Leicester School of Psychology, said: “We have shown that, in some circumstances, decision makers cooperate in their collective interests rather than following the purely selfish predictions of orthodox game theory.

“We carried out two experiments designed to test classical game theory against theories of team reasoning developed in the 1990s by British game theorists. According to classical game theory, decision makers invariably act in their individual self-interest, leading to “Nash equilibrium”, named after the US game theorist and Nobel laureate John Nash, depicted in the biopic A Beautiful Mind.

“Theories of team reasoning were developed to explain why, in some circumstances, people seem to act not in their individual self-interest but in the interest of their families, companies, departments, or the religious, ethnic, or national groups with which they identify themselves.”

Professor Colman is delighted with the results. He said: “Team reasoning is a familiar process, but it is inexplicable within the framework of orthodox game theory. Our findings show for the first time that it predicts decision making more powerfully than orthodox game theory in some games.”

Notes for editor
For further information contact: Professor Andrew M. Colman, E-mail: amc@le.ac.uk

Phone: +44 (0)116 229 7197

1. The study was carried out by Professor Andrew Colman and Dr Briony Pulford at the University of Leicester in collaboration with Dr Jo Rose of the University of Exeter.

2. The results will be published within the next few months in the journal Acta Psychologica, together with commentaries from decision theorists from the UK, the Netherlands, and the US. The article is already in the public domain on the official web site of the journal.

3. Orthodox or classical game predicts that people will act for selfish reasons

4. Team reasoning theory suggests individual self-interest is not always foremost in the way people act

5. In each experiment, 81 participants (36 men and 45 women) made decisions in pairs and were paid between £4 and £13, depending on the outcomes of their decisions. The first experiment was based on lifelike vignettes describing imaginary situations in which members of each pair were raising funds for charity or collecting money for a campaign to oppose a GM test site. In the second experiment, the decisions were purely monetary, with no lifelike vignettes. In both experiments, most decision makers preferred the team-reasoning options, which maximized the money received by both members of the pair, to the options that would have maximized their individual payoffs.

6. The Economic and Social Research Council (ESRC) is the UK's largest funding agency for research and postgraduate training relating to social and economic issues. It supports independent, high quality research which impacts on business, the public sector and the third sector. The ESRC’s planned total expenditure in 2008/09 is £203 million. At any one time the ESRC supports over 4,000 researchers and postgraduate students in academic institutions and research policy institutes.

Ather Mirza | alfa
Further information:
http://www.esrcsocietytoday.ac.uk

More articles from Social Sciences:

nachricht Sibling differences: Later-borns choose less prestigious programs at university
14.11.2017 | Max-Planck-Institut für demografische Forschung

nachricht Visual intelligence is not the same as IQ
09.11.2017 | Vanderbilt University

All articles from Social Sciences >>>

The most recent press releases about innovation >>>

Die letzten 5 Focus-News des innovations-reports im Überblick:

Im Focus: First-of-its-kind chemical oscillator offers new level of molecular control

DNA molecules that follow specific instructions could offer more precise molecular control of synthetic chemical systems, a discovery that opens the door for engineers to create molecular machines with new and complex behaviors.

Researchers have created chemical amplifiers and a chemical oscillator using a systematic method that has the potential to embed sophisticated circuit...

Im Focus: Long-lived storage of a photonic qubit for worldwide teleportation

MPQ scientists achieve long storage times for photonic quantum bits which break the lower bound for direct teleportation in a global quantum network.

Concerning the development of quantum memories for the realization of global quantum networks, scientists of the Quantum Dynamics Division led by Professor...

Im Focus: Electromagnetic water cloak eliminates drag and wake

Detailed calculations show water cloaks are feasible with today's technology

Researchers have developed a water cloaking concept based on electromagnetic forces that could eliminate an object's wake, greatly reducing its drag while...

Im Focus: Scientists channel graphene to understand filtration and ion transport into cells

Tiny pores at a cell's entryway act as miniature bouncers, letting in some electrically charged atoms--ions--but blocking others. Operating as exquisitely sensitive filters, these "ion channels" play a critical role in biological functions such as muscle contraction and the firing of brain cells.

To rapidly transport the right ions through the cell membrane, the tiny channels rely on a complex interplay between the ions and surrounding molecules,...

Im Focus: Towards data storage at the single molecule level

The miniaturization of the current technology of storage media is hindered by fundamental limits of quantum mechanics. A new approach consists in using so-called spin-crossover molecules as the smallest possible storage unit. Similar to normal hard drives, these special molecules can save information via their magnetic state. A research team from Kiel University has now managed to successfully place a new class of spin-crossover molecules onto a surface and to improve the molecule’s storage capacity. The storage density of conventional hard drives could therefore theoretically be increased by more than one hundred fold. The study has been published in the scientific journal Nano Letters.

Over the past few years, the building blocks of storage media have gotten ever smaller. But further miniaturization of the current technology is hindered by...

All Focus news of the innovation-report >>>

Anzeige

Anzeige

Event News

See, understand and experience the work of the future

11.12.2017 | Event News

Innovative strategies to tackle parasitic worms

08.12.2017 | Event News

AKL’18: The opportunities and challenges of digitalization in the laser industry

07.12.2017 | Event News

 
Latest News

Engineers program tiny robots to move, think like insects

15.12.2017 | Power and Electrical Engineering

One in 5 materials chemistry papers may be wrong, study suggests

15.12.2017 | Materials Sciences

New antbird species discovered in Peru by LSU ornithologists

15.12.2017 | Life Sciences

VideoLinks
B2B-VideoLinks
More VideoLinks >>>