The Impact of Individual Expertise and Public Information on Group Decision-Making.

Format:

Book

Author/Creator:

Strunz, Ulrich G.

Series:

FOM-Edition Research

Language:

English

Physical Description:

1 online resource (197 pages)

Place of Publication:

Springer Nature 2021

Wiesbaden : Springer Fachmedien Wiesbaden GmbH, 2021.

Language Note:

English

Summary:

In this open-access-book the author concludes that expertise could be the key factor for global and interconnected problems. Experimental results have shown that expertise was a stronger predictor than public information regarding change in behavior and strategy adaption. Identifying non-routine problem-solving experts by efficient online assessments could lead to less volatile system performance, from which all decision-makers could potentially profit.

Contents:

Intro

Acknowledgments

Contents

Acronyms and Abbreviations

List of Figures

List of Tables

1 Introduction

2 Theoretical Background

2.1 Key Aspects for Real Economic Problem-Solving

2.1.1 Well-Defined Problems

2.1.2 Ill-Defined Problems

2.1.3 Definitions of Complexity

2.1.4 Ignoring Information

2.1.5 Uncertainty

2.2 The Role of Information in Decision-Making

2.2.1 Definitions of Information

2.2.2 Derivation of a Definition for Information

2.2.3 Information Perturbing Events in Behavioral Experiments

2.2.4 Making Decisions in a VUCA World

2.3 Expert Knowledge and Problem-Solving

2.3.1 Definition of Knowledge, Expertise and Expert Knowledge

2.3.2 Expert Knowledge as a Resource

2.3.3 The Role of Learning

2.4 Agents Acting as Disturbances

2.4.1 The Role of Feedback in Complex Problems Under Uncertainty

2.4.2 Novel Problems, Real-World Problems, and Non-routine Tasks

2.4.3 Problem Solving Search and Routine Strength

2.4.4 NPS: Adaptation, Beliefs, Response Times and Emotion

2.4.5 The Human Class: An Unbounded Set of Strategies

2.5 A Network of Interdependent Beliefs

2.5.1 From Game Theory to Behavioral Game Theory

2.5.2 Group Behavior

3 General Research Objectives

3.1 Summary of Key Findings

3.2 Model for Empirical Research

3.3 Experimental Framework for Research Objectives

4 Empirical Research Design

4.1 Development and Materials

4.1.1 Software Development Process

4.1.2 Legacy Version of Experiment

4.1.3 Problems with Legacy Experiment

4.1.4 Curiosity IO-Structure and Functionality

4.1.5 "Tower of Hanoi" Example Session

4.1.6 Example Session Data Output

4.1.7 Response Time and Input

4.1.8 States Derived from State-Space

4.1.9 Move States

4.1.10 Operator Output Function

4.1.11 State Output Function.

4.1.12 Logic and Expected States

4.2 Participants

4.3 Procedure

5 Specific Research Objectives

5.1 Derivation of Hypotheses

5.2 Hypotheses and Variables

6 Results

6.1 Testing For Nonparametric Distribution

6.2 Expertise Rank and Logic Proportion

6.3 Environmental Change and Human Error

6.4 Information Conditions and Logic Deviation

6.5 Complete Logic Proportions Over Information Conditions

6.6 Expected States and Logic Proportion

6.7 Expected States and Logic Marker Proportion

6.8 Complete Expected States Over Information Conditions

6.9 Routine Consistency

6.10 Fundamental Strategy and Group Performance

6.11 Group Expertise and Logic Proportions

6.12 Gender Effects

7 Discussion

7.1 Discussion of Experimental Results

7.2 Methodological Analysis

7.3 Limitation

7.4 Future Outlook

8 Conclusion

Bibliography.

Notes:

Description based on publisher supplied metadata and other sources.

ISBN:

3-658-33139-9

OCLC:

1249470309