Featured Research

from universities, journals, and other organizations

Decision Making: Is It All 'Me, Me, Me'?

Date:
April 29, 2008
Source:
University of Leicester
Summary:
Psychologists find evidence that it's not. People act in their own best interests, according to traditional views of how and why we make the decisions that we do. However, psychologists have recently found evidence that this assumption is not necessarily true. In fact, most of us will act in the best interest of our team -- often at our own expense.

People act in their own best interests, according to traditional views of how and why we make the decisions that we do. However, psychologists at the Universities of Leicester and Exeter have recently found evidence that this assumption is not necessarily true. In fact the research, funded by the Economic and Social Research Council, shows that most of us will act in the best interest of our team -- often at our own expense.

Psychologists carried out the first systematic tests of team reasoning theories by assessing two well known views of how people behave. Orthodox or classical game predicts that people will act for selfish reasons. Team reasoning theory suggests individual self-interest is not always foremost in the way people act as they will act in the best interest of their "team."

Lead researcher Professor Andrew Colman, of the University of Leicester School of Psychology, said: "We have shown that, in some circumstances, decision makers cooperate in their collective interests rather than following the purely selfish predictions of orthodox game theory.

"We carried out two experiments designed to test classical game theory against theories of team reasoning developed in the 1990s by British game theorists. According to classical game theory, decision makers invariably act in their individual self-interest, leading to "Nash equilibrium", named after the US game theorist and Nobel laureate John Nash, depicted in the biopic A Beautiful Mind.

"Theories of team reasoning were developed to explain why, in some circumstances, people seem to act not in their individual self-interest but in the interest of their families, companies, departments, or the religious, ethnic, or national groups with which they identify themselves."

Professor Colman is delighted with the results. He said: "Team reasoning is a familiar process, but it is inexplicable within the framework of orthodox game theory. Our findings show for the first time that it predicts decision making more powerfully than orthodox game theory in some games."

The study was carried out by Professor Andrew Colman and Dr Briony Pulford at the University of Leicester in collaboration with Dr Jo Rose of the University of Exeter.

The results will be published within the next few months in the journal Acta Psychologica, together with commentaries from decision theorists from the UK, the Netherlands, and the US.


Story Source:

The above story is based on materials provided by University of Leicester. Note: Materials may be edited for content and length.


Cite This Page:

University of Leicester. "Decision Making: Is It All 'Me, Me, Me'?." ScienceDaily. ScienceDaily, 29 April 2008. <www.sciencedaily.com/releases/2008/04/080428094212.htm>.
University of Leicester. (2008, April 29). Decision Making: Is It All 'Me, Me, Me'?. ScienceDaily. Retrieved July 30, 2014 from www.sciencedaily.com/releases/2008/04/080428094212.htm
University of Leicester. "Decision Making: Is It All 'Me, Me, Me'?." ScienceDaily. www.sciencedaily.com/releases/2008/04/080428094212.htm (accessed July 30, 2014).

Share This




More Science & Society News

Wednesday, July 30, 2014

Featured Research

from universities, journals, and other organizations


Featured Videos

from AP, Reuters, AFP, and other news services

Britain Testing Driverless Cars on Roadways

Britain Testing Driverless Cars on Roadways

AP (July 30, 2014) British officials said on Wednesday that driverless cars will be tested on roads in as many as three cities in a trial program set to begin in January. Officials said the tests will last up to three years. (July 30) Video provided by AP
Powered by NewsLook.com
Health Insurers' Profits Slide

Health Insurers' Profits Slide

Reuters - Business Video Online (July 30, 2014) Obamacare-related costs were said to be behind the profit plunge at Wellpoint and Humana, but Wellpoint sees the new exchanges boosting its earnings for the full year. Fred Katayama reports. Video provided by Reuters
Powered by NewsLook.com
China's Drone King Says the Revolution Depends on Regulators

China's Drone King Says the Revolution Depends on Regulators

Reuters - Business Video Online (July 30, 2014) Comparing his current crop of drones to early personal computers, DJI founder Frank Wang says the industry is poised for a growth surge - assuming regulators in more markets clear it for takeoff. Jon Gordon reports. Video provided by Reuters
Powered by NewsLook.com
London Mayor Outlines 50-Year Vision Ahead of Population Rise

London Mayor Outlines 50-Year Vision Ahead of Population Rise

AFP (July 30, 2014) London Mayor Boris Johnson outlined his infrastructure plan for the British capital over the next 50 years on Wednesday, with a focus on how to cope with a population expected to reach 11 million. Duration: 00:57 Video provided by AFP
Powered by NewsLook.com

Search ScienceDaily

Number of stories in archives: 140,361

Find with keyword(s):
Enter a keyword or phrase to search ScienceDaily for related topics and research stories.

Save/Print:
Share:

Breaking News:
from the past week

In Other News

... from NewsDaily.com

Science News

Health News

Environment News

Technology News



Save/Print:
Share:

Free Subscriptions


Get the latest science news with ScienceDaily's free email newsletters, updated daily and weekly. Or view hourly updated newsfeeds in your RSS reader:

Get Social & Mobile


Keep up to date with the latest news from ScienceDaily via social networks and mobile apps:

Have Feedback?


Tell us what you think of ScienceDaily -- we welcome both positive and negative comments. Have any problems using the site? Questions?
Mobile: iPhone Android Web
Follow: Facebook Twitter Google+
Subscribe: RSS Feeds Email Newsletters
Latest Headlines Health & Medicine Mind & Brain Space & Time Matter & Energy Computers & Math Plants & Animals Earth & Climate Fossils & Ruins