New decision model predicts diverse risk outcomes based on personality traits.
The article introduces a new decision model called the three-way view decision model, which helps in making decisions based on different personalities of decision makers. This model considers optimistic, pessimistic, and equable decisions depending on the cost of misclassification. By calculating thresholds of probabilistic inclusion, the model minimizes risk cost under different decision biases. This approach provides a practical way to understand and illustrate diverse risk bias decisions.