- Title
- A theoretical analysis of the reward rate optimality of collapsing decision criteria
- Creator
- Boehm, Udo; van Maanen, Leendert; Evans, Nathan J.; Brown, Scott D.; Wagenmakers, Eric-Jan
- Relation
- Attention, Perception, and Psychophysics Vol. 82, Issue 29 July 2020, p. 1520-1534
- Publisher Link
- http://dx.doi.org/10.3758/s13414-019-01806-4
- Publisher
- Springer
- Resource Type
- journal article
- Date
- 2020
- Description
- A standard assumption of most sequential sampling models is that decision-makers rely on a decision criterion that remains constant throughout the decision process. However, several authors have recently suggested that, in order to maximize reward rates in dynamic environments, decision-makers need to rely on a decision criterion that changes over the course of the decision process. We used dynamic programming and simulation methods to quantify the reward rates obtained by constant and dynamic decision criteria in different environments. We further investigated what influence a decision-maker's uncertainty about the stochastic structure of the environment has on reward rates. Our results show that in most dynamic environments, both types of decision criteria yield similar reward rates, across different levels of uncertainty. This suggests that a static decision criterion might provide a robust default setting.
- Subject
- collapsing bounds; diffusion model; reward rate maximization; dynamic environments
- Identifier
- http://hdl.handle.net/1959.13/1452513
- Identifier
- uon:44448
- Identifier
- ISSN:1943-3921
- Rights
- This article is distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution, and reproduction in any medium, provided you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license, and indicate if changes were made.
- Language
- eng
- Full Text
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