Highlights•Humans use uncertainty-based algorithms to balance exploration and exploitation.•Humans utilize structure in the state space to make exploration more …
Psychological models of value-based decision-making describe how subjective values are formed and mapped to single choices. Recently, additional efforts have been made to …
In this paper, we propose a framework for viewing solver branching heuristics as optimization algorithms where the objective is to maximize the learning rate, defined as the …
It has been shown that in certain situations losses exert a stronger effect on behavior than respective gains, and this has been commonly explained by the argument that losses are …
Focusing on the initial stage of foreign market selection (ie, narrowing a set of potential countries from which to make a final choice), we theorize that manager's country familiarity …
I Erev, G Barron - Psychological review, 2005 - psycnet.apa.org
Abstract Analysis of binary choice behavior in iterated tasks with immediate feedback reveals robust deviations from maximization that can be described as indications of 3 …
Individuals are typically more likely to continue to interact with people if they have a positive impression of them. This article shows how this sequential sampling feature of impression …
Much of the formal modelling work in the organizational sciences relies on Herbert Simon's conception of bounded rationality, and it stakes a claim to drawing on behaviorally plausible …
Abstract The Iowa Gambling Task (IGT; Bechara, Damasio, Damasio, & Anderson, 1994) is often used to assess decision-making deficits in clinical populations. The interpretation of …