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 (Unpublished)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) |
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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: | 28 Aug 2021 12:17 |
URI: | http://eprints.hud.ac.uk/id/eprint/32234 |
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