Bounded Optimality in a Cognitive Utility Learning Paradigm

In this paper we report two experiments that test a theory of adaptation to memory limits. A critical aspect of the theory is the assumption that people make bounded optimal decisions, where optimality is defined relative to a payoff function and relative to embodied cognitive constraints. The experiments use a no-choice/choice utility learning paradigm where the no-choice phase is used to elicit a profile of each participant's performance across the strategy space and the choice phase is used to test predicted choices within this space. The experiments provide evidence to support the hypothesis that, with practice, participants select strategies that are bounded optimal given limits on speed and accuracy. The experiments also provide evidence against the hypothesis that people routinely offload information processing to the task environment. The implications of the findings for bounded optimal theories are discussed. Dear Sir or Madam, Please find attached a manuscript entitled " Bounded Optimality in a Cognitive Utility Learning Paradigm " for consideration for publication in the journal Cognitive Psychology. No portion of the Experiments or manuscript have been published or submitted for consideration elsewhere. The work was approved by the ethics panel from the University of Manchester. Utility learning in cognitively bounded tasks 2 Abstract In this paper we report two experiments that test a theory of adaptation to memory limits. A critical aspect of the theory is the assumption that people make bounded optimal decisions, where optimality is defined relative to a payoff function and relative to embodied cognitive constraints. The experiments use a no-choice/choice utility learning paradigm where the no-choice phase is used to elicit a profile of each participant's performance across the strategy space and the choice phase is used to test predicted choices within this space. The experiments provide evidence to support the hypothesis that, with practice, participants select strategies that are bounded optimal given limits on speed and accuracy. The experiments also provide evidence against the hypothesis that people routinely offload information processing to the task environment. The implications of the findings for bounded optimal theories are discussed. Utility learning in cognitively bounded tasks 3 Arguably the function of the mind is to make control decisions in pursuit of reward. Presented with an extraordinary range of choice, decisions are taken that reduce the myriad possibilities to a single purposeful stream of behavior. But the mechanisms that support control are resource limited: decisions must be made that are …