Human Rationality and Morals

Stefan H. Vieweg ()
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Stefan H. Vieweg: RFH - University of Applied Sciences Cologne

Chapter 2 in AI for the Good, 2021, pp 23-38 from Springer

Abstract: Abstract How do people make decisions, what are the driving forces, and what are their ethical and moral disorders? The explanatory pattern of human rationality is subject to other disturbances than those of AI. The concept of human rationality, its importance in modeling, and as a basis for argumentation are introduced. Its shortcomings are demonstrated with a concrete economic example. It is demonstrated that economical irrational decisions are prevalent. A set of cognitive biases are elaborated and explained using concrete examples from COVID-19 that are caused by statistical misinterpretation. Humans’ significant tendencies to “cheat a little” are elaborated with Dan Ariely’s “fudge factor” explained. In particular, in the context of further rollout of AI technologies, it is demonstrated how this immoral problem increases. As a further example, an initiative that appears ostensibly ethical-moral praiseworthy—the movement to inclusive perspectives in the investment industries—is analyzed against the background of limited moral responsibility. Concepts are presented to foster morality in a sensible manner by taking joint responsibility.

Keywords: AI; Base rate fallacy; Behavioral economics; CAPM; Confirmation bias; COVID-19; Egocentric bias; Escape pattern; Fudge factor; Group think; Inclusive capitalism; Infection rate; Halo effect; Homo oeconomicus; Irrationality; LCA; Overconfidence bias; Prevalence; Principal–agent theorem; Rationality; Reproduction rate; SAFe; Stewardship (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:mgmchp:978-3-030-66913-3_2

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DOI: 10.1007/978-3-030-66913-3_2

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