Matches in SemOpenAlex for { <https://semopenalex.org/work/W3006072739> ?p ?o ?g. }
- W3006072739 abstract "Significance When making economic decisions, humans can evaluate probabilities and magnitudes of outcomes in an idiosyncratic way that can lead to poor decisions. This suggests that the internal functions that map objective quantities onto subjective utilities are nonlinear. Here, we ask why utility functions take this form, making the assumption that human decisions are intrinsically variable (corrupted by noise). Using simulations, we show that the canonical nonlinear form of these functions maximizes reward and minimizes uncertainty for a noisy decision agent. We demonstrate in two experiments that humans adapt optimally to manipulations of outcome certainty. Thus, our results suggest that observed subjective functions may represent an optimal adaptation within the constraints imposed by biology." @default.
- W3006072739 created "2020-02-24" @default.
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- W3006072739 date "2020-12-30" @default.
- W3006072739 modified "2023-09-28" @default.
- W3006072739 title "Optimal utility and probability functions for agents with finite computational precision" @default.
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- W3006072739 doi "https://doi.org/10.1073/pnas.2002232118" @default.
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