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“Big data” needs an analysis of decision processes

Published online by Cambridge University Press:  26 February 2014

Pantelis P. Analytis
Affiliation:
Adaptive Behavior and Cognition, Max Planck Institute for Human Development, 14195 Berlin, Germany. analytis@mpib-berlin.mpg.demoussaid@mpib-berlin.mpg.dekaemmer@mpib-berlin.mpg.degigerenzer@mpib-berlin.mpg.dehttp://www.mehdimoussaid.com/
Mehdi Moussaïd
Affiliation:
Adaptive Behavior and Cognition, Max Planck Institute for Human Development, 14195 Berlin, Germany. analytis@mpib-berlin.mpg.demoussaid@mpib-berlin.mpg.dekaemmer@mpib-berlin.mpg.degigerenzer@mpib-berlin.mpg.dehttp://www.mehdimoussaid.com/
Florian Artinger
Affiliation:
Behavioural Science Group, Warwick Business School, The University of Warwick, Coventry CV4 7AL, United Kingdom. florian.artinger@wbs.ac.uk
Juliane E. Kämmer
Affiliation:
Adaptive Behavior and Cognition, Max Planck Institute for Human Development, 14195 Berlin, Germany. analytis@mpib-berlin.mpg.demoussaid@mpib-berlin.mpg.dekaemmer@mpib-berlin.mpg.degigerenzer@mpib-berlin.mpg.dehttp://www.mehdimoussaid.com/
Gerd Gigerenzer
Affiliation:
Adaptive Behavior and Cognition, Max Planck Institute for Human Development, 14195 Berlin, Germany. analytis@mpib-berlin.mpg.demoussaid@mpib-berlin.mpg.dekaemmer@mpib-berlin.mpg.degigerenzer@mpib-berlin.mpg.dehttp://www.mehdimoussaid.com/

Abstract

We demonstrate by means of a simulation that the conceptual map presented by Bentley et al. is incomplete without taking into account people's decision processes. Within the same environment, two decision processes can generate strikingly different collective behavior; in two environments that fundamentally differ in transparency, a single process gives rise to virtually identical behavior.

Type
Open Peer Commentary
Copyright
Copyright © Cambridge University Press 2014 

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References

Artinger, F. & Gigerenzer, G. (in preparation) Pricing in an uncertain market. Mimeo.Google Scholar
Gigerenzer, G. & Goldstein, D. G. (1996) Reasoning the fast and frugal way: Models of bounded rationality. Psychological Review 103:650–69.CrossRefGoogle Scholar
Gigerenzer, G., Todd, P. M., & the ABC Research Group. (1999) Simple heuristics that make us smart. Oxford University Press.Google Scholar
Hauser, J. R. & Wernerfelt, B. (1990) An evaluation cost model of consideration sets. Journal of Consumer Research 16:393408.CrossRefGoogle Scholar
Moussaïd, M., Kämmer, J. E., Analytis, P. & Neth, H. (2013) Social influence and the collective dynamics of opinion formation. PLoS ONE 8(11).Google ScholarPubMed
Simon, H. A. (1956) Rational choice and the structure of the environment. Psychological Review 63:129–38.CrossRefGoogle ScholarPubMed

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