The cry of the owl: investigating decision-making in a contemporary feature film

This article extends the traditions of style-based criticism through an encounter with the insights that can be gained from engaging with filmmakers at work. By bringing into relationship two things normally thought of as separate: production history and disinterested critical analysis, the discussion aims to extend the subjects which criticism can appreciate as well as providing some insights on the creative process. Drawing on close analysis, on observations made during fieldwork and on access to earlier cuts of the film, this article looks at a range of interrelated decision-making anchored by the reading of a particular sequence. The article examines changes the film underwent in the different stages of production, and some of the inventions deployed to ensure key themes and ideas remained in play, as other elements changed. It draws conclusions which reveal perspectives on the filmmaking process, on collaboration, and on the creative response to material realities. The article reveals elements of the complexity of the process of the construction of image and soundtrack, and extends the range of filmmakers’ choices which are part of a critical dialogue. Has a relationship to ‘Sleeping with half open eyes: dreams and realities in The Cry of the Owl’, Movie: A Journal of Film Criticism, 1, (2010) which provides a broader interpretative context for the enquiry.

Can company-fund manager meetings convey informational benefits? Exploring the rationalisation of equity investment decision making by UK fund managers

Conventional economic theory, applied to information released by listed companies, equates ‘useful’ with ‘price-sensitive’. Stock exchange rules accordingly prohibit the selec- tive, private communication of price-sensitive information. Yet, even in the absence of such communication, UK equity fund managers routinely meet privately with the senior execu- tives of the companies in which they invest. Moreover, they consider these brief, formal and formulaic meetings to be their most important sources of investment information. In this paper we ask how that can be. Drawing on interview and observation data with fund managers and CFOs, we find evidence for three, non-mutually exclusive explanations: that the characterisation of information in conventional economic theory is too restricted, that fund managers fail to act with the rationality that conventional economic theory assumes, and/or that the primary value of the meetings for fund managers is not related to their investment decision making but to the claims of superior knowledge made to clients in marketing their active fund management expertise. Our findings suggest a disconnect between economic theory and economic policy based on that theory, as well as a corre- sponding limitation in research studies that test information-usefulness by assuming it to be synonymous with price-sensitivity. We draw implications for further research into the role of tacit knowledge in equity investment decision-making, and also into the effects of the principal–agent relationship between fund managers and their clients.

Multi-attribute collaborative filtering recommendation based on improved group decision-making

Currently researchers in the field of personalized recommendations bear little consideration on users' interest differences in resource attributes although resource attribute is usually one of the most important factors in determining user preferences. To solve this problem, the paper builds an evaluation model of user interest based on resource multi-attributes, proposes a modified Pearson-Compatibility multi-attribute group decision-making algorithm, and introduces an algorithm to solve the recommendation problem of k-neighbor similar users. Considering the characteristics of collaborative filtering recommendation, the paper addresses the issues on the preference differences of similar users, incomplete values, and advanced converge of the algorithm. Thus the paper realizes multi-attribute collaborative filtering. Finally, the effectiveness of the algorithm is proved by an experiment of collaborative recommendation among multi-users based on virtual environment. The experimental results show that the algorithm has a high accuracy on predicting target users' attribute preferences and has a strong anti-interference ability on deviation and incomplete values.

Responsibility effects in decision making under risk

We systematically explore decision situations in which a decision maker bears responsibility for somebody else's outcomes as well as for her own in situations of payoff equality. In the gain domain we confirm the intuition that being responsible for somebody else's payoffs increases risk aversion. This is however not attributable to a 'cautious shift' as often thought. Indeed, looking at risk attitudes in the loss domain, we find an increase in risk seeking under responsibility. This raises issues about the nature of various decision biases under risk, and to what extent changed behavior under responsibility may depend on a social norm of caution in situations of responsibility versus naive corrections from perceived biases. To further explore this issue, we designed a second experiment to explore risk-taking behavior for gain prospects offering very small or very large probabilities of winning. For large probabilities, we find increased risk aversion, thus confirming our earlier finding. For small probabilities however, we find an increase of risk seeking under conditions of responsibility. The latter finding thus discredits hypotheses of a social rule dictating caution under responsibility, and can be explained through flexible self-correction models predicting an accentuation of the fourfold pattern of risk attitudes predicted by prospect theory. An additional accountability mechanism does not change risk behavior, except for mixed prospects, in which it reduces loss aversion. This indicates that loss aversion is of a fundamentally different nature than probability weighting or utility curvature. Implications for debiasing are discussed.

Willingness-to-pay for a probabilistic flood forecast: a risk-based decision-making game

Probabilistic hydro-meteorological forecasts have over the last decades been used more frequently to communicate forecastuncertainty. This uncertainty is twofold, as it constitutes both an added value and a challenge for the forecaster and the user of the forecasts. Many authors have demonstrated the added (economic) value of probabilistic over deterministic forecasts across the water sector (e.g. flood protection, hydroelectric power management and navigation). However, the richness of the information is also a source of challenges for operational uses, due partially to the difficulty to transform the probability of occurrence of an event into a binary decision. This paper presents the results of a risk-based decision-making game on the topic of flood protection mitigation, called “How much are you prepared to pay for a forecast?”. The game was played at several workshops in 2015, which were attended by operational forecasters and academics working in the field of hydrometeorology. The aim of this game was to better understand the role of probabilistic forecasts in decision-making processes and their perceived value by decision-makers. Based on the participants’ willingness-to-pay for a forecast, the results of the game show that the value (or the usefulness) of a forecast depends on several factors, including the way users perceive the quality of their forecasts and link it to the perception of their own performances as decision-makers.