Applied a theory of information integration to decision making with probabilistic events. 10 undergraduates judged the subjective worth of duplex bets that included independent gain and lose components. The worth of each component was assumed to be the product of a subjective weight that reflected the probability of winning or losing, and the subjective worth of the money to be won or lost. The total worth of the bet was the sum of the worths of the 2 components. Thus, each (...) judgment required multiplying and adding operations. The multiplying model worked quite well in 4 experimental conditions. The adding model showed more serious discrepancies, though these were small in magnitude. The theory of functional measurement was applied to scale the subjective values of the probability and money stimuli. Subjective and objective values were nonlinearly related both for probability and for money. (shrink)

Unified theory of cognition -- Psychological laws -- Foundations of person cognition -- Functional theory of attitudes -- Attitude integration theories -- Comparisons of attitude theories -- Moral algebra -- Group dynamics -- Cognitive theory of judgment-decision -- General theory -- Experimental methods -- Unified science of psychology.

A functional theory of memory has already been developed as part of a general functional theory of cognition. The traditional conception of memory as “reproductive” touches on only a minor function. The primary function of memory is in constructing values for goal-directedness of everyday thought and action. This functional approach to memory rests on a solid empirical foundation.

Cognitive algebra strongly disproved the representativeness heuristic almost before it was published; and therewith it also disproved the base rate fallacy. Cognitive algebra provides a theoretical foundation for judgment-decision theory through its joint solution to the two fundamental problems – true measurement of subjective values, and cognitive rules for integration of multiple determinants.

The function of memory is to allow past experience to subserve present goal-oriented thought and action. The defining characteristic of goal-oriented approach/avoidance is value. Value lies beyond the reproductive conception of memory that is basic to both metaphors discussed in Koriat & Goldsmith's target article. Functional memory requires a quite different metaphor, for which a grounded theory is available.