scholarly journals Strategic Information Acquisition and Transmission

2016 ◽  
Vol 8 (3) ◽  
pp. 119-155 ◽  
Author(s):  
Rossella Argenziano ◽  
Sergei Severinov ◽  
Francesco Squintani
Keyword(s):  
Decision Making ◽  
Decision Maker ◽  
Information Acquisition ◽  
Organization Design ◽  
Strategic Communication ◽  
Strategic Information ◽  
Costly Information ◽  
Design Communication

This paper explores the implications of costly information acquisition in a strategic communication setting. We show that equilibrium decisions based on a biased expert's advice may be more precise than when information is directly acquired by the decision maker, even if the expert is not more efficient than the decision maker at acquiring information. This result bears important implications for organization design. Communication by an expert to a decision maker may often outperform delegation of the decision-making authority to the expert, as well as centralization by the decision maker of both information acquisition and decision-making authority. (JEL C72, D23, D82, D83)

scholarly journals Bias and Negligence with Freedom of Information

2019 ◽  
Vol 129 (624) ◽  
pp. 2979-2998
Author(s):  
Rossella Argenziano ◽  
Helen Weeds
Keyword(s):  
Decision Making ◽  
Decision Maker ◽  
Information Acquisition ◽  
Freedom Of Information ◽  
Policy Action ◽  
Costly Information ◽  
The Cost

Abstract We analyse decision-making in the presence of Freedom of Information (FOI) rules. A decision-maker chooses whether to acquire costly information to inform his decision regarding a policy action. If information is not disclosed voluntarily a monitor may open a costly investigation, using FOI to access the information. A finding of biased decision-making or negligence in information acquisition generates a reward to the monitor and a penalty to the decision-maker. We find that strengthening FOI to reduce the cost of investigation may increase negligence without necessarily reducing bias. Moreover, increasing the reward for discovering negligence can paradoxically increase negligence in equilibrium.

scholarly journals Delegated Expertise, Authority, and Communication

2019 ◽  
Vol 109 (4) ◽  
pp. 1349-1374 ◽  
Author(s):  
Inga Deimen ◽  
Dezs˝o Szalay
Keyword(s):  
Decision Making ◽  
Decision Maker ◽  
Strategic Communication ◽  
Communication Problems ◽  
Optimal Action

A decision maker needs to reach a decision and relies on an expert to acquire information. Ideal actions of expert and decision maker are partially aligned and the expert chooses what to learn about each. The decision maker can either get advice from the expert or delegate decision making to him. Under delegation, the expert learns his privately optimal action and chooses it. Under communication, advice based on such information is discounted, resulting in losses from strategic communication. We characterize the communication problems that make the expert acquire information of equal use to expert and decision maker. In these problems, communication outperforms delegation. (JEL D82, D83)

scholarly journals A Model for Selecting a Strategic Information System Using the FITradeoff

2016 ◽  
Vol 2016 ◽  
pp. 1-7 ◽  
Author(s):  
Ana Paula Henriques de Gusmão ◽  
Cristina Pereira Medeiros
Keyword(s):  
Information System ◽  
Information Systems ◽  
Decision Maker ◽  
Additive Model ◽  
New Method ◽  
Strategic Information ◽  
Perceived Need ◽  
Using Data ◽  
Strategic Information System ◽  
Glass Packaging

This paper arose from the perceived need to make a contribution towards assessing a strategic information system by using a new method for eliciting the weights of criteria. This is considered one of the most complex and important stages in multicriteria models. Multicriteria models have been proposed to support decisions in the context of information systems given that problems in this field deal with many conflicting criteria. The new procedure for eliciting the weights of the criteria has the advantage of requiring less effort from the decision-maker and, thus, the risk of inconsistent answers is minimized. Therefore, a model based on this new procedure is proposed and applied using data from a glass packaging factory that needs to select a single information system from a set of systems previously identified as relevant. The results obtained are consistent both with the performance of alternatives and with the additive model used to evaluate the alternatives.

A preliminary study of gray matter volume differences related to context-dependent and independent decision-making

2021 ◽  
Author(s):  
Zhang Jinbo
Keyword(s):  
Decision Making ◽  
Decision Maker ◽  
Gray Matter ◽  
Cognitive Bias ◽  
Gray Matter Volume ◽  
Neural Basis ◽  
Matter Volume ◽  
Decision Styles ◽  
Context Dependent ◽  
Independent Decision

Facing the high degree of uncertainty of the environment, we have evolved two kinds of decision-making styles: context-dependent and context-independent decision. However, the underlying neural basis of these two kinds of decision styles was mostly unknown. Here, the cognitive bias task was applied to split participants into the context-independent decision-maker and context-dependent decision-maker based on the cognitive bias task scores. Then, we used voxel-based morphometry to directly investigate its underlying differences in gray matter volume. We found that the gray matter volume of the prefrontal cortex and parietal regions, such as inferior parietal lobule, was larger in context-dependent decision-makers than that of the context-independent decision-maker.

scholarly journals The Study of a Mathematical Model in Information Acquisition and Disclosure

2015 ◽  
Vol 2015 ◽  
pp. 1-8
Author(s):  
Ce Huang
Keyword(s):  
Mathematical Model ◽  
Decision Maker ◽  
Information Acquisition ◽  
Disclosure Strategy ◽  
Withholding Information

A mathematical model involving a decision maker and an expert is investigated. Through analyzing the model, we obtain several results on the expert’s information acquisition and disclosure strategy. When withholding information is costly to the expert, in equilibrium, an expert with a higher withholding cost acquires less information but discloses more acquired information. We also examine which expert is optimal to the decision maker among a group of experts with different costs of withholding information.

scholarly journals Cancer Patients: Their Desire for Information and Participation in Treatment Decisions

1989 ◽  
Vol 82 (5) ◽  
pp. 260-263 ◽  
Author(s):  
H J Sutherland ◽  
H A Llewellyn-Thomas ◽  
G A Lockwood ◽  
D L Tritchler ◽  
J E Till
Keyword(s):  
Decision Making ◽  
Cancer Patients ◽  
Decision Maker ◽  
Treatment Decisions ◽  
Autonomous Decision ◽  
Disclosure Of Information ◽  
Participation In Decision Making ◽  
Psychological Autonomy ◽  
The Relationship

The relationship between cancer patients’ desire for information and their preference for participation in decision making has been examined. Approximately 77% of the 52 patients reported that they had participated in decision making to the extent that they wished, while most of the remaining 23% would have preferred an opportunity to have greater input. Although many of the patients actively sought information, a majority preferred the physician to assume the role of the primary decision maker. Ethically, the disclosure of information has been assumed to be necessary for autonomous decision making. Nevertheless, the results of this study indicate that patients may actively seek information to satisfy an as yet unidentified aspect of psychological autonomy that does not necessarily include participation in decision making.

Costly information acquisition under horizontal competition

2018 ◽  
Vol 46 (4) ◽  
pp. 418-423
Author(s):  
Qi Fu ◽  
Yongquan Li ◽  
Kaijie Zhu
Keyword(s):  
Information Acquisition ◽  
Costly Information ◽  
Horizontal Competition

scholarly journals VERBAL DECISION MAKING ANALYSIS

2004 ◽  
Vol 10 (1) ◽  
pp. 32-39
Author(s):  
Dmitry Kochin ◽  
Leonas Ustinovičius
Keyword(s):  
Decision Making ◽  
Decision Analysis ◽  
Decision Maker ◽  
Mathematical Proof ◽  
Preference Elicitation ◽  
Qualitative Approach ◽  
Analysis Methods ◽  
Verbal Decision Analysis ◽  
Quantitative Approaches

The paper presents the ideology of a qualitative approach to decision making ‐ verbal decision analysis. The authors have analyzed existing quantitative approaches and pointed out their main disadvantages. They formulated the requirements for decision‐making methods taking into account these disadvantages: psychological correctness of a dialog with decision maker (DM), strict mathematical proof of the methods and checking of DM information for consistency. The authors present the results of research on psychological correctness of operations of preference elicitation from DM. Several existing verbal decision analysis methods are briefly mentioned.

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