Optimal utility and probability functions for agents with finite computational precision
When making economic choices, such as those between goods or gambles, humans act as if their internal representation of the value and probability of a prospect is distorted away from its true value. These distortions give rise to decisions which apparently fail to maximize reward, and preferences th...
| Main Authors: | , , , |
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| Format: | Journal article |
| Language: | English |
| Published: |
National Academy of Sciences
2020
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