Learning fast and slow : deviations from the matching law can reflect an optimal strategy under uncertainty

@inproceedings{Iigaya2017LearningFA,
  title={Learning fast and slow : deviations from the matching law can reflect an optimal strategy under uncertainty},
  author={Kiyohito Iigaya and Yashar Ahmadian and Leo P. Sugrue and G. Corrado and Yonatan Loewenstein and William T. Newsome and Stefano Fusi},
  year={2017}
}
Behavior which deviates from our normative expectations often appears irrational. A classic example concerns the question of how choice should be distributed among multiple alternatives. The so-called matching law predicts that the fraction of choices made to any option should match the fraction of total rewards earned from the option. This choice strategy can maximize reward in a stationary reward schedule. Empirically, however, behavior often deviates from this ideal. While such deviations… CONTINUE READING
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