The effects of heuristics and apophenia on probabilistic choice

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The effects of heuristics and apophenia on probabilistic choice

Given a repeated choice between two or more options with independent and identically distributed reward probabilities, overall pay-offs can be maximized by the exclusive selection of the option with the greatest likelihood of reward. The tendency to match response proportions to reward contingencies...

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Bibliographic Details
Main Authors:	Ellerby, Zack W., Tunney, Richard J.
Format:	Article
Published:	University of Finance and Management in Warsaw 2018
Subjects:	probability matching apophenia heuristics judgement under uncertainty
Online Access:	https://eprints.nottingham.ac.uk/48249/

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