Ahmad, Sheeraz ; Yu, Angela J (2015)
A Rational Model for Individual Differences in Preference Choice.
CogSci 2015. Pasadena, California (23.07.2015-25.07.2015)
Konferenzveröffentlichung, Bibliographie
Kurzbeschreibung (Abstract)
Human preference choice suffers curious contextual effects: the relative preference between two multi-attribute options (e.g. cars with differing safety and economy ratings) can dramatically shift, depending on the presence/absence of additional options. This phenomenon defies any simple utilitybased account of choice, and has been taken to imply irrationalities/sub-optimalities in human decision-making, or reflect idiosyncrasies in neural processing. Recently, we used a Bayesian model to show that these contextual effects are normative consequences of observers using options to learn about the “market”. However, it had an unsavory implication that all decision-makers asymptotically converge to the same beliefs/behavior. Here, we propose a new model that uses both market and personal utilities to make choices. This model still captures the contextual effects, while also allowing asymptotic differences in individual preferences and providing a general framework for explaining how consumption informs one’s beliefs and preferences.
| Typ des Eintrags: | Konferenzveröffentlichung |
|---|---|
| Erschienen: | 2015 |
| Autor(en): | Ahmad, Sheeraz ; Yu, Angela J |
| Art des Eintrags: | Bibliographie |
| Titel: | A Rational Model for Individual Differences in Preference Choice |
| Sprache: | Englisch |
| Publikationsjahr: | 2015 |
| Ort: | Austin, Texas |
| Verlag: | Cognitive Science Society |
| Titel der Zeitschrift, Zeitung oder Schriftenreihe: | Department of Cognitive Science University of California, San Diego |
| Buchtitel: | Proceedings of the 37th Annual Conference of the Cognitive Science Society |
| Veranstaltungstitel: | CogSci 2015 |
| Veranstaltungsort: | Pasadena, California |
| Veranstaltungsdatum: | 23.07.2015-25.07.2015 |
| URL / URN: | https://pages.ucsd.edu/~ajyu/Papers/cogsci15_sheeraz.pdf |
| Zugehörige Links: | |
| Kurzbeschreibung (Abstract): | Human preference choice suffers curious contextual effects: the relative preference between two multi-attribute options (e.g. cars with differing safety and economy ratings) can dramatically shift, depending on the presence/absence of additional options. This phenomenon defies any simple utilitybased account of choice, and has been taken to imply irrationalities/sub-optimalities in human decision-making, or reflect idiosyncrasies in neural processing. Recently, we used a Bayesian model to show that these contextual effects are normative consequences of observers using options to learn about the “market”. However, it had an unsavory implication that all decision-makers asymptotically converge to the same beliefs/behavior. Here, we propose a new model that uses both market and personal utilities to make choices. This model still captures the contextual effects, while also allowing asymptotic differences in individual preferences and providing a general framework for explaining how consumption informs one’s beliefs and preferences. |
| Fachbereich(e)/-gebiet(e): | 03 Fachbereich Humanwissenschaften 03 Fachbereich Humanwissenschaften > Institut für Psychologie |
| Hinterlegungsdatum: | 30 Okt 2023 12:38 |
| Letzte Änderung: | 31 Okt 2023 06:49 |
| PPN: | 512770530 |
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