Please use this identifier to cite or link to this item:
https://hdl.handle.net/2440/91081
Type: | Conference paper |
Title: | Information versus reward in a changing world |
Author: | Navarro, D.J. Newell, B. |
Citation: | Program of the 36th Annual Meeting of the Cognitive Science Society, 2014, pp.1054-1059 |
Publisher: | Cognitive Science Society |
Issue Date: | 2014 |
ISBN: | 9780991196708 |
Conference Name: | 36th Annual Meeting of the Cognitive Science Society (CogSci 2014) (23 Jul 2014 - 26 Jul 2014 : Quebec City, Canada) |
Statement of Responsibility: | Daniel J. Navarro, Ben R. Newell |
Abstract: | How do people solve the explore-exploit trade-off in a changing environment? In this paper we present experimental evidence in an "observe or bet" task, comparing human behavior in a changing environment to their behavior in an unchanging one. We present a Bayesian analysis of the observe or bet task and show that human judgments are consistent with that analysis. However, we find that people's behavior is most consistent with a Bayesian model that assumes a rate of change that is higher than the true rate in the task. We argue that this tendency is the result of asymmetric consequences: assuming that the world changes more often than it really does is not very costly, whereas assuming a too-low rate of change can carry much more severe consequences. |
Keywords: | decision making; explore-exploit dilemmas; learning; change detection |
Rights: | © The Authors |
Grant ID: | http://purl.org/au-research/grants/arc/FT110100431 http://purl.org/au-research/grants/arc/FT110100151 http://purl.org/au-research/grants/arc/DP110104949 |
Published version: | https://mindmodeling.org/cogsci2014/papers/188/ |
Appears in Collections: | Aurora harvest 2 Psychology publications |
Files in This Item:
File | Description | Size | Format | |
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hdl_91081.pdf | Published version | 179.81 kB | Adobe PDF | View/Open |
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