Circadian Variations and Risky Decision Making

Over the past decades, decision making under risk has garnered a great amount of attention both in the field of economics and psychology. Although state-dependent variabilities of risk taking are well-documented, little is known about the effects of a person’s preferred time of day, or chronotype, in risky decision making. Under circumstances of circadian mismatch (e.g., when an “early bird” makes decisions in the evening), research suggests that decision making may reflect a greater reliance on heuristics, such as using stereotypes in social judgments. However, the effects of circadian mismatch on heuristics in risky decision making are relatively unexplored. This paper looks into the effects of circadian mismatch on the reflection effect: a behavioral bias in financial decision making, wherein individuals are risk averse when facing potential gains, and risk seeking when facing potential losses. Participants will be randomly assigned to their circadian matched or circadian mismatched conditions and will play a series of financial gambling tasks with real monetary incentives. This study predicts that the reflection effect will be exacerbated in circadian mismatched individuals as compared to matched participants. Exploring such an effect could have real-world implications on decision making under risk by providing critical knowledge about the effects of time of day on our susceptibility to behavioral biases. It could therefore point to the existence of a more optimal time of day to engage in such critical decision making

Enhancing skills of critical reflection to evidence learning in professional practice

Professional organisations and regulatory bodies are making critical reflection a mandatory component of professional practice. Reflection is a vital part of learning from experience and is central to developing and maintaining competency across a practitioner's lifetime. This paper will discuss key educational theories to illustrate why reflection is important. Kolb's and Gibbs' reflective cycles are used to structure the process of critical reflection. Elements of the educational tradition of Bildung are discussed and integrated to enrich the understanding of self and to facilitate the reader's ability to enhance their professional practice

Do we measure what we get?

Performance measures shall enhance the performance of companies by directing the attention of decision makers towards the achievement of organizational goals. Therefore, goal congruence is regarded in literature as a major factor in the quality of such measures. As reality is affected by many variables, in practice one has tried to achieve a high degree of goal congruence by incorporating an increasing number of these variables into performance measures. However, a goal congruent measure does not lead automatically to superior decisions, because decision makers’ restricted cognitive abilities can counteract the intended effects. This paper addresses the interplay between goal congruence and complexity of performance measures considering cognitively-restricted decision makers. Two types of decision quality are derived which allow a differentiated view on the influence of this interplay on decision quality and learning. The simulation experiments based on this differentiation provide results which allow a critical reflection on costs and benefits of goal congruence and the assumptions regarding the goal congruence of incentive systems

‘Multi-directional management’: Exploring the challenges of performance in the World Class Programme environment

Driven by the ever-increasing intensity of Olympic competition and the ‘no compromise – no stone unturned’ requirements frequently addressed by HM Government and its main agency, UK Sport, a change in culture across Olympic team landscapes is a common occurrence. With a focus on process, this paper presents reflections from eight current or recently serving UK Olympic sport Performance Directors on their experiences of creating and disseminating their vision for their sport, a vital initial activity of the change initiative. To facilitate a broad overview of this construct, reflections are structured around the vision’s characteristics and foundations, how it is delivered to key stakeholder groups, how it is influenced by these groups, the qualities required to ensure its longevity and its limitations. Emerging from these perceptions, the creation and maintenance of a shared team vision was portrayed as a highly dynamic task requiring the active management of a number of key internal and external stakeholders. Furthermore, the application of ‘dark’ traits and context-specific expertise were considered critical attributes for the activity’s success. Finally, recent calls for research to elucidate the wider culture optimisation process are reinforced

Active inference, evidence accumulation, and the urn task

Deciding how much evidence to accumulate before making a decision is a problem we and other animals often face, but one that is not completely understood. This issue is particularly important because a tendency to sample less information (often known as reflection impulsivity) is a feature in several psychopathologies, such as psychosis. A formal understanding of information sampling may therefore clarify the computational anatomy of psychopathology. In this theoretical letter, we consider evidence accumulation in terms of active (Bayesian) inference using a generic model of Markov decision processes. Here, agents are equipped with beliefs about their own behavior--in this case, that they will make informed decisions. Normative decision making is then modeled using variational Bayes to minimize surprise about choice outcomes. Under this scheme, different facets of belief updating map naturally onto the functional anatomy of the brain (at least at a heuristic level). Of particular interest is the key role played by the expected precision of beliefs about control, which we have previously suggested may be encoded by dopaminergic neurons in the midbrain. We show that manipulating expected precision strongly affects how much information an agent characteristically samples, and thus provides a possible link between impulsivity and dopaminergic dysfunction. Our study therefore represents a step toward understanding evidence accumulation in terms of neurobiologically plausible Bayesian inference and may cast light on why this process is disordered in psychopathology

Improving bioethical decision-making with a little help from legal argumentation

The most appropriate method for clinical decision-making is deliberation. The deliberative procedure aims to achieve wise and prudent decisions about health care taking into account facts, values and norms. Since deliberative reasoning is shared by healthcare professions, ethics and law, this paper introduces the structure and features of the bioethical deliberative procedure and suggests to improve it with some contributions from legal science and theories of argumentation.El método más adecuado para la toma de decisiones biomédicas es la deliberación. El procedimiento deliberativo pretende alcanzar decisiones prudentes y razonables tras tomar en consideración hechos, valores y normas. Al ser la racionalidad deliberativa un rasgo compartido por las profesiones asistenciales, la ética y el derecho, el presente artículo expone la estructura y las características del método bioético deliberativo y propone mejorarla mediante algunas contribuciones de la ciencia jurídica y las teorías de la argumentación