Three Essays on Information Transmission and Pooling in Common Value Decision Making

Three Essays on Information Transmission and Pooling in Common Value Decision Making
Author: John P. Lightle
Publisher:
Total Pages: 131
Release: 2008
Genre: Group decision making
ISBN:

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Abstract: My first essay reexamines experimental results suggesting that pooling of information by decision making groups is often incomplete, leading to a suboptimal decision. In my main experimental treatment, I calibrate decision makers' information load so that discovering the optimal choice is likely, given natural memory constraints. However, I show that errors recalling public information are typically mitigated by within-group correction, while comparable errors with private information cannot be corrected, biasing the pool of information toward the option favored by public information. This "corrective force bias" accounts for the majority of sub-optimal group decisions in my experiment. This bias is unacknowledged in prior experiments, and suggests that the observed information pooling failures have more to do with the structure of the information distribution than any inadequacies in group performance. In my second essay, I provide a theoretical model which illustrates why experts advising a decision maker (DM) with a limited ability to process information might rationally bias their messages toward the policy they believe to be correct when the advisors' and DM's interests are aligned. In the most informative perfect Bayesian equilibrium of a game where advice is given sequentially, the first advisor sends a sincere message if his information is moderate. However, given information sufficiently favorable to a policy, advisor 1 biases his message in an attempt to ensure this policy is chosen even when the DM receives a noisy message. I describe this bias in the transmission of information as "paternalistic bias." My research suggests that the ex-post evaluation of the precision of experts should account for this paternalistic bias. My third essay describes a rational choice model for a behavioral phenomenon known as biased recall, i.e., the fact that information which is consistent with an initial preference, expectation, or belief is more likely to be recalled. The model I provide is the first to endogenize the recall of information and ascribe utility functions to agents in order to solve for the optimal allocation of limited memory resources.

Model Rules of Professional Conduct

Model Rules of Professional Conduct
Author: American Bar Association. House of Delegates
Publisher: American Bar Association
Total Pages: 216
Release: 2007
Genre: Law
ISBN: 9781590318737

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The Model Rules of Professional Conduct provides an up-to-date resource for information on legal ethics. Federal, state and local courts in all jurisdictions look to the Rules for guidance in solving lawyer malpractice cases, disciplinary actions, disqualification issues, sanctions questions and much more. In this volume, black-letter Rules of Professional Conduct are followed by numbered Comments that explain each Rule's purpose and provide suggestions for its practical application. The Rules will help you identify proper conduct in a variety of given situations, review those instances where discretionary action is possible, and define the nature of the relationship between you and your clients, colleagues and the courts.

Decision Making Under Uncertainty

Decision Making Under Uncertainty
Author: Mykel J. Kochenderfer
Publisher: MIT Press
Total Pages: 350
Release: 2015-07-24
Genre: Computers
ISBN: 0262331713

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An introduction to decision making under uncertainty from a computational perspective, covering both theory and applications ranging from speech recognition to airborne collision avoidance. Many important problems involve decision making under uncertainty—that is, choosing actions based on often imperfect observations, with unknown outcomes. Designers of automated decision support systems must take into account the various sources of uncertainty while balancing the multiple objectives of the system. This book provides an introduction to the challenges of decision making under uncertainty from a computational perspective. It presents both the theory behind decision making models and algorithms and a collection of example applications that range from speech recognition to aircraft collision avoidance. Focusing on two methods for designing decision agents, planning and reinforcement learning, the book covers probabilistic models, introducing Bayesian networks as a graphical model that captures probabilistic relationships between variables; utility theory as a framework for understanding optimal decision making under uncertainty; Markov decision processes as a method for modeling sequential problems; model uncertainty; state uncertainty; and cooperative decision making involving multiple interacting agents. A series of applications shows how the theoretical concepts can be applied to systems for attribute-based person search, speech applications, collision avoidance, and unmanned aircraft persistent surveillance. Decision Making Under Uncertainty unifies research from different communities using consistent notation, and is accessible to students and researchers across engineering disciplines who have some prior exposure to probability theory and calculus. It can be used as a text for advanced undergraduate and graduate students in fields including computer science, aerospace and electrical engineering, and management science. It will also be a valuable professional reference for researchers in a variety of disciplines.

Bulletin of the Atomic Scientists

Bulletin of the Atomic Scientists
Author:
Publisher:
Total Pages: 64
Release: 1955-04
Genre:
ISBN:

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The Bulletin of the Atomic Scientists is the premier public resource on scientific and technological developments that impact global security. Founded by Manhattan Project Scientists, the Bulletin's iconic "Doomsday Clock" stimulates solutions for a safer world.

Bulletin of the Atomic Scientists

Bulletin of the Atomic Scientists
Author:
Publisher:
Total Pages: 116
Release: 1970-06
Genre:
ISBN:

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The Bulletin of the Atomic Scientists is the premier public resource on scientific and technological developments that impact global security. Founded by Manhattan Project Scientists, the Bulletin's iconic "Doomsday Clock" stimulates solutions for a safer world.

Innovation, Networks, and Knowledge Spillovers

Innovation, Networks, and Knowledge Spillovers
Author: Manfred M. Fischer
Publisher: Springer Science & Business Media
Total Pages: 268
Release: 2006-12-02
Genre: Business & Economics
ISBN: 3540359818

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This volume covers the topic of innovation in three sections, first demonstrating that processes of innovation and technological change are spatially differentiated, second examining the increasing importance of knowledge creation and diffusion, and third raising key issues related to the systems of innovation approach as a conceptual framwork for regional innovation analysis. Includes enlightening conceptual and empirical work on the issue of how knowledge spills over locally.

The Structuring of Organizations

The Structuring of Organizations
Author: Henry Mintzberg
Publisher:
Total Pages: 0
Release: 2009
Genre:
ISBN:

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Synthesizes the empirical literature on organizationalstructuring to answer the question of how organizations structure themselves --how they resolve needed coordination and division of labor. Organizationalstructuring is defined as the sum total of the ways in which an organizationdivides and coordinates its labor into distinct tasks. Further analysis of theresearch literature is neededin order to builda conceptualframework that will fill in the significant gap left by not connecting adescription of structure to its context: how an organization actuallyfunctions. The results of the synthesis are five basic configurations (the SimpleStructure, the Machine Bureaucracy, the Professional Bureaucracy, theDivisionalized Form, and the Adhocracy) that serve as the fundamental elementsof structure in an organization. Five basic parts of the contemporaryorganization (the operating core, the strategic apex, the middle line, thetechnostructure, and the support staff), and five theories of how it functions(i.e., as a system characterized by formal authority, regulated flows, informalcommunication, work constellations, and ad hoc decision processes) aretheorized. Organizations function in complex and varying ways, due to differing flows -including flows of authority, work material, information, and decisionprocesses. These flows depend on the age, size, and environment of theorganization; additionally, technology plays a key role because of itsimportance in structuring the operating core. Finally, design parameters aredescribed - based on the above five basic parts and five theories - that areused as a means of coordination and division of labor in designingorganizational structures, in order to establish stable patterns of behavior.(CJC).

Rethinking education: towards a global common good?

Rethinking education: towards a global common good?
Author: UNESCO
Publisher: UNESCO Publishing
Total Pages: 85
Release: 2015-05-26
Genre: Education
ISBN: 9231000888

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Economic growth and the creation of wealth have cut global poverty rates, yet vulnerability, inequality, exclusion and violence have escalated within and across societies throughout the world. Unsustainable patterns of economic production and consumption promote global warming, environmental degradation and an upsurge in natural disasters. Moreover, while we have strengthened international human rights frameworks over the past several decades, implementing and protecting these norms remains a challenge.These changes signal the emergence of a new global context for learning that has vital implications for education. Rethinking the purpose of education and the organization of learning has never been more urgent. This book is inspired by a humanistic vision of education and development, based on respect for life and human dignity, equal rights, social justice, cultural diversity, international solidarity and shared responsibility for a sustainable future. It proposes that we consider education and knowledge as global common goods, in order to reconcile the purpose and organization of education as a collective societal endeavour in a complex world.

Bulletin of the Atomic Scientists

Bulletin of the Atomic Scientists
Author:
Publisher:
Total Pages: 56
Release: 1971-09
Genre:
ISBN:

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The Bulletin of the Atomic Scientists is the premier public resource on scientific and technological developments that impact global security. Founded by Manhattan Project Scientists, the Bulletin's iconic "Doomsday Clock" stimulates solutions for a safer world.