Two distinct exploratory behaviors in decisions from experience: Comment on Gonzalez and Dutt (2011).

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Two distinct exploratory behaviors in decisions from experience: comment on Gonzalez and Dutt (2011).

Gonzalez and Dutt (2011) recently reported that trends during sampling, prior to a consequential risky decision, reveal a gradual movement from exploration to exploitation. That is, even when search imposes no immediate costs, people adopt the same pattern manifest in costly search: early exploration followed by later exploitation. From this isomorphism in costless and costly search, the author...

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=1858769 Gigerenzer, G., and Gaissmaier, W. (2011). Heuristic decision making. Ann. Rev. Psychol. 62, 451–482. Gonzalez, C., and Dutt, V. (2011). Instance-based learning: integrating sampling and repeated decisions from experience. Psychol. Rev. 118, 523–551. Hertwig, R. (2011). The psychology and rationality of decisions from experience. Synthese. doi: 10.1007/

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Exploration in Decisions From Experience

Gonzalez and Dutt (2011) recently reported that trends during sampling, prior to a consequential risky decision, reveal a gradual movement from exploration to exploitation. That is, even when search imposes no immediate costs, people adopt the same pattern manifest in costly search: early exploration followed by later exploitation. From this isomorphism the authors conclude that the same cognit...

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ژورنال

عنوان ژورنال: Psychological Review

سال: 2012

ISSN: 1939-1471,0033-295X

DOI: 10.1037/a0028004