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In bandit problems, a decision-maker must choose between a set of alternatives, each of which has a fixed but unknown rate of reward, to maximize their total number of rewards over a sequence of trials. Performing well in these problems requires balancing the need to search for highly-rewarding alternatives, with the need to capitalize on those alternatives(More)
Human subjects exhibit " sequential effects " in many psychological experiments, in which they respond more rapidly and accurately to a stimulus when it reinforces a local pattern in stimulus history, compared to when it violates such a pattern. This is often the case even if the local pattern arises by chance, such that stimulus history has no real(More)
How humans achieve long-term goals in an uncertain environment, via repeated trials and noisy observations, is an important problem in cognitive science. We investigate this behavior in the context of a multi-armed bandit task. We compare human behavior to a variety of models that vary in their representational and computational complexity. Our result shows(More)
In The Price Is Right game show, players compete to win a prize, by placing bids on its price. We ask whether it is possible to achieve a "wisdom of the crowd" effect, by combining the bids to produce an aggregate price estimate that is superior to the estimates of individual players. Using data from the game show, we show that a wisdom of the crowd effect(More)
Game theory has been useful for understanding risk-taking and cooperative behavior. In the present study, subjects played the Hawk-Dove game with simulated and embodied (robotic) neu-ral agents which used a neurobiologically plausible model of action selection and adaptive behaviors. Subjects had their serotonin levels temporarily altered through acute(More)
Previous research reveals that a more 'African' appearance has significant social consequences, yielding more negative first impressions and harsher criminal sentencing of Black or White individuals. This study is the first to systematically assess the relative contribution of skin tone and facial metrics to White, Black, and Korean perceivers' ratings of(More)
Diffusion models are widely-used and successful accounts of the time course of two-choice decision making. Most diffusion models assume constant boundaries, which are the threshold levels of evidence that must be sampled from a stimulus to reach a decision. We summarize theoretical results from statistics that relate distributions of decisions and response(More)
In most cases authors are permitted to post their version of the article (e.g. in Word or Tex form) to their personal website or institutional repository. Authors requiring further information regarding Elsevier's archiving and manuscript policies are encouraged to visit: Abstract In bandit problems, a decision-maker must choose between a set of(More)