Although praised for their rationality, humans often make poor decisions, even in simple situations. In the repeated binary choice experiment, an individual has to choose repeatedly between the same two alternatives, where a reward is assigned to one of them with fixed probability. The optimal strategy is to perseverate with choosing the alternative with the best expected return. Whereas many species perseverate, humans tend to match the frequencies of their choices to the frequencies of the alternatives, a sub-optimal strategy known as probability matching. Our goal was to find the primary cognitive constraints under which a set of simple evolutionary rules can lead to such contrasting behaviors. We simulated the evolution of artificial po...
Probability matching occurs when an action is chosen with a frequency equivalent to the probability ...
BACKGROUND: Most economic theories are based on the premise that individuals maximize their own self...
Models and experiments on adaptive decision-making typically consider highly simplified environments...
Although praised for their rationality, humans often make poor decisions, even in simple situations....
Although praised for their rationality, humans often make poor decisions, even in simple situations....
Probability matching has long been taken as a prime example of irrational behaviour in human decisio...
Over a series of decisions between two or more probabilistically rewarded options, humans have a ten...
Research has not yet reached a consensus on why humans match probabilities instead of maximise in a ...
Over a series of decisions between two or more probabilistically rewarded options, humans have a ten...
Probability matching—where subjects given probabilistic in-put respond in a way that is proportional...
Learning to choose adaptively when faced with uncertain consequences is a central challenge for deci...
In life, people commonly face repeated decisions under risk or uncertainty. While normative economic...
Probability matching is a classic choice anomaly that has been studied extensively. While many appro...
Probability matching 2 Probability matching is a suboptimal behavior that often plagues human decisi...
PublishedResearch Support, Non-U.S. Gov'tReviewThis is the author accepted manuscript. The final ver...
Probability matching occurs when an action is chosen with a frequency equivalent to the probability ...
BACKGROUND: Most economic theories are based on the premise that individuals maximize their own self...
Models and experiments on adaptive decision-making typically consider highly simplified environments...
Although praised for their rationality, humans often make poor decisions, even in simple situations....
Although praised for their rationality, humans often make poor decisions, even in simple situations....
Probability matching has long been taken as a prime example of irrational behaviour in human decisio...
Over a series of decisions between two or more probabilistically rewarded options, humans have a ten...
Research has not yet reached a consensus on why humans match probabilities instead of maximise in a ...
Over a series of decisions between two or more probabilistically rewarded options, humans have a ten...
Probability matching—where subjects given probabilistic in-put respond in a way that is proportional...
Learning to choose adaptively when faced with uncertain consequences is a central challenge for deci...
In life, people commonly face repeated decisions under risk or uncertainty. While normative economic...
Probability matching is a classic choice anomaly that has been studied extensively. While many appro...
Probability matching 2 Probability matching is a suboptimal behavior that often plagues human decisi...
PublishedResearch Support, Non-U.S. Gov'tReviewThis is the author accepted manuscript. The final ver...
Probability matching occurs when an action is chosen with a frequency equivalent to the probability ...
BACKGROUND: Most economic theories are based on the premise that individuals maximize their own self...
Models and experiments on adaptive decision-making typically consider highly simplified environments...