Ambiguity, Pessimism, and Religious Choice

Using a relatively mild restriction on the beliefs of the MMEU-apreference functional, in which the decision maker’s degree of ambiguity and degree of pessimism are each parameterized, we present a rather general theory of religious choice in the decision theory tradition, one that can resolve dilemmas, address the many Gods objection, and address the inherent ambiguity. Using comparative static analysis, we are able to show how changes in either the degree of ambiguity or the degree of pessimism can lead a decision maker to “convert” from one religion to another. We illustrate the theory of religious choice using an example where the decision maker perceives three possible religious alternatives.Religion; Decision Theory; Ambiguity; Optimism; Pessimism

The effect of population aging on aggregate labor supply in the United States

Output growth is determined by growth in labor productivity and growth in labor input. Over the past two decades, technological developments have changed how many economists think about growth in labor productivity. However, in the coming decades, the aging of the population will change how economists think about the growth in labor input in the United States. As the oldest baby boomers born in 1946 turned 50, then 55, and then 60, an important economic change has slowly surfaced: these people have become less likely to participate in the labor force. While this shift was obscured by a labor market slump in 2002, the aging of the American population began to put downward pressure on aggregate labor supply, marking the start of what is likely to be a sharp deceleration in labor input that will last another half-century.Labor supply ; Baby boom generation

Evolution of Worker-Employer Networks and Behaviors Under Alternative Non-Employment Benefits: An Agent-Based Computational Study

Dynamic Job Search and Match Model; Agent-Based Computational Experiments

Private Money as a Competing Medium of Exchange

Using a relatively mild restriction on the beliefs of the MMEU-apreference functional, in which the decision maker’s degree of ambiguity and degree of pessimism are each parameterized, we present a rather general theory of religious choice in the decision theory tradition, one that can resolve dilemmas, address the many Gods objection, and address the inherent ambiguity. Using comparative static analysis, we are able to show how changes in either the degree of ambiguity or the degree of pessimism can lead a decision maker to “convert” from one religion to another. We illustrate the theory of religious choice using an example where the decision maker perceives three possible religious alternatives.Private money; Speculative demand; Search theory; Medium of exchange

Unemployment Insurance and the Evolution of Worker-Employer\n Cooperation: Experiments with Real and Artificial Agents

This paper reports the results of human subject and computational experiments designed to examine how the level of the "inactivity payments" to workers and to employers affects the evolution of cooperation among workers and employers. The related impacts to unemployment and job vacancy rates are our primary focus. However, we also examine the impacts on labor force participation, productive efficiency, the willingness to form long term relationships, and other outcome measures.Agent-based computational economics; Labor market; Unemployment\n benefits; Evolution of cooperation; Adaptive search

Patience Versus Decisiveness in Decision-Making

When rationality is bounded, a variety of factors may influence how far a choice is from optimal. We examine the willingness to search among alternatives. We find fixed individual differences in this temperament measure. People may be usefully typed according to how they obtain improved choices. More patient subjects obtain improvement by effectively using decision resources, performing better when the decision is more complex. More decisive subjects obtain improvement by conserving valuable decision resources, performing better when the decision problem is simple. We find that a bonus incentive frame encourages patience, while a penalty frame encourages decisiveness. These results suggest an organization can enhance its performance by matching individual temperaments and incentive frames to decision tasks at hand.framing, deliberation cost, bounded rationality, heuristics, incentives

Selection of obsolescence resolution strategy based on a multi criteria decision model

A component becomes obsolete when it is no longer available from its original manufacturer in its original form. Component obsolescence is a significant problem in the electronics industry. There are different strategies employed to address this problem, for example, using an alternative part, life time buy, redesign etc. Often, techniques used in industry select one of these options based on the most economical solution as determined by minimizing direct costs. However, there are factors other than cost, such as the number of suppliers, time constraints, reliability of the solution etc., which may play a crucial role in determining an overall best decision. In addition, there are multiple stakeholders like design, operations, manufacturing, sales, service etc., who might have different opinions when it comes to obsolescence management. This research provides a multi criteria decision model that will consider the trade-offs among multiple factors and provide the decision maker solution that will be acceptable to a wide variety of stakeholders as well as being viable from the company\u27s perspective. The model is based on multi attribute utility theory. It will provide the stakeholders a platform to express their preferences and experience in the decision process. And, based on the overall utility value, the most suitable obsolescence resolution strategy for a specific application will be provided. The research provides a hypothetical case study in order to illustrate the application and usage of the model