Decision Making and Sequential Sampling from Memory

Decision Making and Sequential Sampling from Memory

Decisions take time, and as a rule more difficult decisions take more time. But this only raises the question of what consumes the time. For decisions informed by a sequence of samples of evidence, the answer is straightforward: more samples are available with more time. Indeed, the speed and accuracy of such decisions are explained by the accumulation of evidence to a threshold or bound. Howev...

Sequential Sampling Models for Cognitive and Perceptual Decision Making

! Abstract ! In the Berlin Cognitive Science meetings there was a brief session titled 'Sequential Sampling Models' (session 42) that attracted enormous interest: The room was packed and overflowed by a considerable amount, and both speakers and audience members felt there was much more to be presented and discussed than the few speakers and talks could allow. Quite a few people present agreed ...

Generalized Thompson sampling for sequential decision-making and causal inference

*Correspondence: [email protected]; [email protected] 1GRASP Laboratory, Electrical and Systems Engineering Department, University of Pennsylvania, Philadelphia, PA 19104, USA 2Max Planck Institute for Biological Cybernetics and Max Planck Institute for Intelligent Systems, Speemanstrasse 38, Tübingen 72076, Germany Abstract Purpose: Sampling an action according to the probability ...

Convergence in a sequential two stages decision making process

We analyze a sequential decision making process, in which at each stepthe decision is made in two stages. In the rst stage a partially optimalaction is chosen, which allows the decision maker to learn how to improveit under the new environment. We show how inertia (cost of changing)may lead the process to converge to a routine where no further changesare made. We illustrate our scheme with some...

Learning and Sequential Decision Making