Advanced

Decision Science : From Ramsey to Dual Process Theories

Sahlin, Nils-Eric LU ; Wallin, Annika LU and Persson, Johannes LU (2010) In Synthese 172(1). p.129-143
Abstract
The hypothesis that human reasoning and decision-making can be roughly modeled by Expected Utility Theory has been at the core of decision science. Accumulating evidence has led researchers to modify the hypothesis. One of the latest additions to the field is Dual Process theory, which attempts to explain variance between participants and tasks when it comes to deviations from Expected Utility Theory. It is argued that Dual Process theories at this point cannot replace previous theories, since they, among other things, lack a firm conceptual framework, and have no means of producing independent evidence for their case.
Please use this url to cite or link to this publication:
author
organization
publishing date
type
Contribution to journal
publication status
published
subject
keywords
decision science, decision theory, human reasoning, decision-making, dual process theory, rationality, prospect theory, economic man, Ramsey, normative man, expected utility
in
Synthese
volume
172
issue
1
pages
129 - 143
publisher
Springer
external identifiers
  • wos:000272324000008
  • scopus:77349102504
ISSN
0039-7857
DOI
10.1007/s11229-009-9472-5
language
English
LU publication?
yes
id
1e7f56e6-02b8-49fb-8de3-46d02917c533 (old id 1295971)
alternative location
http://www.springerlink.com/content/pm5766236j327277/
date added to LUP
2009-02-16 14:21:52
date last changed
2017-02-26 03:18:13
@article{1e7f56e6-02b8-49fb-8de3-46d02917c533,
  abstract     = {The hypothesis that human reasoning and decision-making can be roughly modeled by Expected Utility Theory has been at the core of decision science. Accumulating evidence has led researchers to modify the hypothesis. One of the latest additions to the field is Dual Process theory, which attempts to explain variance between participants and tasks when it comes to deviations from Expected Utility Theory. It is argued that Dual Process theories at this point cannot replace previous theories, since they, among other things, lack a firm conceptual framework, and have no means of producing independent evidence for their case.},
  author       = {Sahlin, Nils-Eric and Wallin, Annika and Persson, Johannes},
  issn         = {0039-7857},
  keyword      = {decision science,decision theory,human reasoning,decision-making,dual process theory,rationality,prospect theory,economic man,Ramsey,normative man,expected utility},
  language     = {eng},
  number       = {1},
  pages        = {129--143},
  publisher    = {Springer},
  series       = {Synthese},
  title        = {Decision Science : From Ramsey to Dual Process Theories},
  url          = {http://dx.doi.org/10.1007/s11229-009-9472-5},
  volume       = {172},
  year         = {2010},
}