Modelling the Integration of Costs and Benefits During Decision Making

Mounir Icho, Dilhan J. Thilakarathne, Jan Treur*

*Corresponding author for this work

Research output: Chapter in Book / Report / Conference proceedingConference contributionAcademicpeer-review

Abstract

In this paper a computational cognitive model for decision making based on cost-benefit comparison is presented. The brain weighs costs against benefits by combining reward and loss signals into a single, difference-based neural representation of net value. The presented model integrates such findings of the literature and is able to explain a person’s decision making behavior through several scenarios.

Original languageEnglish
Title of host publicationDecision Economics
Subtitle of host publicationMinds, Machines, and their Society
EditorsEdgardo Bucciarelli, Shu-Heng Chen, Juan M. Corchado, Javier Parra D.
PublisherSpringer Science and Business Media Deutschland GmbH
Pages227-237
Number of pages11
ISBN (Electronic)9783030755836
ISBN (Print)9783030755829
DOIs
Publication statusPublished - 2021
Event2nd International Conference on Decision Economics, DECON 2020 - Virtual, Online
Duration: 17 Jun 202019 Jun 2020

Publication series

NameStudies in Computational Intelligence
Volume990
ISSN (Print)1860-949X
ISSN (Electronic)1860-9503

Conference

Conference2nd International Conference on Decision Economics, DECON 2020
CityVirtual, Online
Period17/06/2019/06/20

Bibliographical note

Publisher Copyright:
© 2021, The Author(s), under exclusive license to Springer Nature Switzerland AG.

Keywords

  • Benefit
  • Cost
  • Financial decision making

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