Sampling and Decision Making: How People Interact to Learn and Profit in 
Stochastic Multi-Stage Environments

Bartels, D; Reinholtz, N; Love, BC; Le Mens, G; Newell, B; Schulz, E; Rich, A

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Sampling and Decision Making: How People Interact to Learn and Profit in Stochastic Multi-Stage Environments

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https://easychair.org/smart-program/ICT2016/2016-08-04.html
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Bartels, D., Reinholtz, N., Love, B., Le Mens, G., Newell, B., Schulz, E., et al. (2016). Sampling and Decision Making: How People Interact to Learn and Profit in Stochastic Multi-Stage Environments. In International Conference on Thinking (ICT 2016).

Cite as: https://hdl.handle.net/21.11116/0000-0008-40C4-2

Abstract

Most decisions are made without complete information, where the information we have is often noisy and acquired at a cost—either through direct experience or information search—and our decisions today influence our predicament tomorrow. Whereas much decision-making research eschews it, the projects in this session embrace these complexities. Each is about how people interact with their environments by sampling outcomes and experiencing results, and how people make explore-exploit tradeoffs. These projects address when and why people act in accordance with normative models by characterizing the psychology and contextual properties of the environment that give rise to this sampling and choice behavior. Short abstracts appear below.