ECONOMICS Testing the DDM: A Behavioral Experiment to Measure Evidence Accumulation During Decision MakingAUTHORS: Stefan F. Bucher and Paul W. Glimcher OBJECTIVE Drift-diffusion models (DDM) have had empirical success in fitting choice and...
More infoEnvisioning the Improbable: Judgment and Strategy in Heavy-Tailed Contexts
NEUROSCIENCE Envisioning the Improbable: Judgment and Strategy in Heavy-Tailed Contexts ABSTRACT This multi-method research seeks to increase understanding of the judgment, behavior, and performance of individuals and organizations in...
More infoRetailer Pricing and Consumer Choice under Price Uncertainty
NEUROSCIENCE Retailer Pricing and Consumer Choice under Price Uncertainty ABSTRACT Based on the implicit assumption that consumers’ average price perceptions guide their retailer choice, previous research examined how different retailer pricing...
More infoThree Exciting Papers Published by ISDM Prof. Jay van Bavel
Three Exciting Papers Published by ISDM Prof. Jay van Bavel May 10, 2017 Congratulations to Professor Jay van Bavel, who collaborated in three papers that have recently been published. For the paper, Decoding “us” and “them”: Neural...
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More infoPropranolol and Loss Aversion
NEUROSCIENCE Propranolol and Loss Aversion ABSTRACT Previous work has suggested that arousal responses to gain and loss outcomes are related to loss aversion in participants’ choices. Though these previous data are correlational, they suggest a...
More infoThe bounded log-odds model of frequency and probability distortion
NEUROSCIENCE The bounded log-odds model of frequency and probability distortion ABSTRACT People systematically distort probability and frequency information in decision-making and in many other perceptual, motor and cognitive tasks. We show that...
More infoAn Analysis of Decision under Risk in Rats
NEUROSCIENCE An Analysis of Decision under Risk in Rats AUTHORS Christine Constantinople ABSTRACT In 1979, Daniel Kahneman and Amos Tversky published a ground-breaking paper titled ‘‘Prospect Theory: An Analysis of Decision under Risk,’’ which...
More infoSuboptimal Criterion Learning in Static and Dynamic Environments
NEUROSCIENCE Suboptimal Criterion Learning in Static and Dynamic Environments AUTHORS: LElyse H. Norton, Stephen M. Fleming, Nathaniel D. Daw, and Michael S. Landy ABSTRACT Humans often make decisions based on uncertain...
More infoAcute Stress and Reinforcement Learning
NEUROSCIENCE Acute Stress and Reinforcement Learning ABSTRACT The physiological response evoked by short-lived stressful events, referred to as acute stress, impacts human decision-making. Past studies assume that stress causes people to fall...
More infoRole of non-monetary incentives in decision making
NEUROSCIENCE Role of non-monetary incentives in decision making ABSTRACT People show age-related changes in decision-making. Therefore, we want to investigate the correlation between the brain structures and the generalized axiom of revealed...
More infoModeling and Measuring Costs of Learning
NEUROSCIENCE Modeling and Measuring Costs of Learning ABSTRACT Theoretical and experimental research is ongoing on models of imperfect perception and how it is impacted by the incentive to learn. The project provides new characterizations of the...
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