Frequency-dependent payoffs and sequential decision-making favour consistent tactic use

Frequency-dependent payoffs and sequential decision-making favour consistent tactic use.

Although natural selection should have favoured individuals capable of adjusting the weight they give to personal and social information according to circumstances, individuals generally differ consistently in their individual weighting of both types of information. Such individual differences are correlated with personality traits, suggesting that personality could directly affect individuals'...

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

Possibilistic sequential decision making

Article history: Received 21 March 2013 Received in revised form 14 November 2013 Accepted 15 November 2013 Available online 19 December 2013

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...