Search:
Computing and Library Services - delivering an inspiring information environment

Decision Context, Associative Learning and Preference Formation in Risky Choice

Kusev, Petko, Love, Bradley and van Schaik, Paul (2015) Decision Context, Associative Learning and Preference Formation in Risky Choice. In: 56th Annual Meeting of the Psychonomic Society, 19-22nd November 2015, Chicago, USA. (Unpublished)

Metadata only available from this repository.

Abstract

Despite all the differences offered in theories of utility formation and decisions from experience/
descriptions, they share common assumption – decision makers have stable and coherent preferences, informed by consistent use of psychological strategy/processing (computational or sampling) that guide their choices between
alternatives varying in risk and reward. In contrast, we argue for the non-existence of stable risk preferences; we propose that risk preferences are constructed dynamically based on strategy selection as a reinforcement-learning model. Accordingly, we found that decision context and
associative learning predict strategy selection and govern risky preferences; rather having fixed preferences for risk, people select decision strategies from current context and learn to select decision strategies that are most successful (in terms of effort and reward) for a given context

Item Type: Conference or Workshop Item (Paper)
Additional Information: Abstracts published in Abstracts of the Psychonomic Society
Subjects: B Philosophy. Psychology. Religion > BF Psychology
Schools: Huddersfield Business School
Related URLs:
Depositing User: Sharon Beastall
Date Deposited: 14 Jun 2017 10:58
Last Modified: 14 Jun 2017 10:59
URI: http://eprints.hud.ac.uk/id/eprint/32234

Downloads

Downloads per month over past year

Repository Staff Only: item control page

View Item View Item

University of Huddersfield, Queensgate, Huddersfield, HD1 3DH Copyright and Disclaimer All rights reserved ©