Interesting alternative to the classical “maximize expected utility” rule for decision making

EtienneKoechlin, Human Decision-Making beyond the Rational Decision Theory, Trends in Cognitive Sciences, Volume 24, Issue 1, January 2020, Pages 4-6, DOI: 10.1016/j.tics.2019.11.001.

Two recent studies (Farashahi et al. and Rouault et al.) provide compelling evidence refuting the Subjective Expected Utility (SEU) hypothesis as a ground model describing human decision-making. Together, these studies pave the way towards a new model that subsumes the notion of decision-making and adaptive behavior into a single account.

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