We study the wisdom of crowd in three sequential decision-making tasks: Balloon Analogue Risk Task (BART), optimal stopping problems, and bandit problems. consider a behavior-based approach, using majority decisions to determine behavior show that this approach performs poorly BART tasks. The key problem is becomes progressively more extreme as decision sequence progresses, because diversity op...

This paper focuses on a study of the sequential action execution module for a collision avoidance system in ocean navigation. The overall decision-action process of collision avoidance consists on a Fuzzy logic based parallel decision making module and those decisions are formulated into collision avoidance actions by a Bayesian network based sequential action execution module. The presented co...

During decision making between sequential stimuli, the first stimulus must be held in memory and then compared with the second. Here, we show that in systems that encode the stimuli by their firing rate, neurons can use synaptic facilitation not only to remember the first stimulus during the delay but during the presentation of the second stimulus so that they respond to a combination of the fi...

Topics in Sequential Decision Making: Analysis and Applications

This paper introduces application of Reflexive Game Theory to the matter of multistage decision making processes. The idea behind is that each decision making session has certain parameters like “when the session is taking place”, “who are the group members to make decision”, “how group members influence on each other”, etc. This study illustrates the consecutive or sequential decision making p...

Perceptual aliasing arises in situations where multiple, distinct states of the world give rise to the same percept. In this study, we examine how the degree of perceptual aliasing in a task impacts the ability of human agents to learn reward-maximizing decision strategies. Previous work has shown that the presence of perceptual cues that help signal distinct states of the environment can impro...

Teams, juries, electorates, and committees must often select from various alternative courses of action what they judge to be the best option. The phenomenon that central tendency many independent estimates is quite accurate—“the wisdom crowd”—suggests group decisions based on plurality voting can surprisingly wise. Recent experimental studies demonstrate crowd further enhanced if individuals h...