Study of socio-economic phenomenon using decision process analysis

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The purpose of this study was to examine contingent judgment and decision making process in socio-economic environments using several psychological methods, and to make psychometric models, and mathematical models. Decision making process can be observed in our social lives and socio-economic phenomenon. People judge or make decisions in various situations in socio-economic settings. Investigation of their decision making process is considered to be effective for understanding socio-economic phenomenon.Utility theory is a representative system for explaining various decision making phenomena. It uses mathematical methods and is introduced frequently in consumer activity research in the field of political economy. Although utility theory can explain most decision making phenomena, it cannot completely explain contingent decision making due to problem description, decision procedure, and external task factors. For example, as Tversky and Kahneman illustrated, even if the completely same … More alternatives are formed in the same objective situation, the decision made may be different, depending on the way in which a mental representation is created.This study first explained why utility theory cannot completely explain contingent decision making. Secondly, new qualitative models of contingent decision making were proposed in this study, since utility theories (including such nonlinear utility theories as the rank-dependent utility theory) are often violated as pointed out above. Thirdly, we found basic types of social situations and contexts of judgment and decision-making using social survey research, interview methods, and theoretical analysis. Fourthly, we found qualitative and quantitative properties of contingent judgment and decision-making in social environments using several psychological experiments. Fifthly, we found qualitative properties of cognitive process in risk judgment and decision-making using process-tracing techniques in psychological experiments. Finally, based on the empirical findings through experiments and social survey, we made psychometric models using fuzzy set theory and mathematical models to describe contingent judgment and decision-making in socio-economic environments.These findings were reported at international and domestic academic meetings. Some of the findings were published in academic journals. Less