geoscience.net logo
+ Resolve Article
+ Follow Us
Follow on FacebookFollow on Facebook
Follow on TwitterFollow on Twitter

+ Translate
+ Subscribe to Site Feed
GeoScience Most Shared ContentMost Shared Content

A Simplified Model of Choice Behavior under Uncertainty


, : A Simplified Model of Choice Behavior under Uncertainty. Frontiers in Psychology 7: 1201-1201

The Iowa Gambling Task (IGT) has been standardized as a clinical assessment tool (Bechara, 2007). Nonetheless, numerous research groups have attempted to modify IGT models to optimize parameters for predicting the choice behavior of normal controls and patients. A decade ago, most researchers considered the expected utility (EU) model (Busemeyer and Stout, 2002) to be the optimal model for predicting choice behavior under uncertainty. However, in recent years, studies have demonstrated that models with the prospect utility (PU) function are more effective than the EU models in the IGT (Ahn et al., 2008). Nevertheless, after some preliminary tests based on our behavioral dataset and modeling, it was determined that the Ahn et al. (2008) PU model is not optimal due to some incompatible results. This study aims to modify the Ahn et al. (2008) PU model to a simplified model and used the IGT performance of 145 subjects as the benchmark data for comparison. In our simplified PU model, the best goodness-of-fit was found mostly as the value of α approached zero. More specifically, we retested the key parameters α, λ, and A in the PU model. Notably, the influence of the parameters α, λ, and A has a hierarchical power structure in terms of manipulating the goodness-of-fit in the PU model. Additionally, we found that the parameters λ and A may be ineffective when the parameter α is close to zero in the PU model. The present simplified model demonstrated that decision makers mostly adopted the strategy of gain-stay loss-shift rather than foreseeing the long-term outcome. However, there are other behavioral variables that are not well revealed under these dynamic-uncertainty situations. Therefore, the optimal behavioral models may not have been found yet. In short, the best model for predicting choice behavior under dynamic-uncertainty situations should be further evaluated.

US$19.90

PMID: 27582715

DOI: 10.3389/fpsyg.2016.01201


Other references

Fleury, B.; Vieira, S.B.rros; Rakotonanahary, D.; Gagnadoux, F.; Hausser Hauw, C.; Lebeau, B., 1997: Cold passover humidification versus heated humidification during NCPAP therapy. European Respiratory Journal Supplement 10(25): 187S, Sept

Bringman, S.; Wollert, S.; Osterberg, J.; Smedberg, S.; Granlund, H.; Felländer, G.; Heikkinen, T., 2006: One year results of a randomised controlled multi-centre study comparing Prolene and Vypro II-mesh in Lichtenstein hernioplasty. A standard polypropylene mesh used in Lichtenstein's operation induces a strong foreign tissue reaction with potential harmful effects. A mesh with less polypropylene could possibly be beneficial. Six hundred men with primary unilateral ingui...

Sundmacher, L.; Ozegowski, S., 2015: Regional distribution of physicians: the role of comprehensive private health insurance in Germany. In recent years, the co-existence in Germany of two parallel comprehensive insurance systems-statutory health insurance (SHI) and private health insurance (PHI)-has been posited as a possible cause of a persistent unequal regional distribution of...

Wu, J.; Schuessler, R.B.; Rodefeld, M.D.; Saffitz, J.E.; Boineau, J.P., 2001: Morphological and membrane characteristics of spider and spindle cells isolated from rabbit sinus node. Wu, Jianyi, Richard B. Schuessler, Mark D. Rodefeld, Jeffrey E. Saffitz, and John P. Boineau. Morphological and membrane characteristics of spider and spindle cells isolated from rabbit sinus node. Am J Physiol Heart Circ Physiol 280: H1232-H1240,...

Poddubnaya, L.G.; Mishina, E.; Zhokhov, A.E.; Gibson, D.I., 2010: Ultrastructural features of the tegumental surface of a new metacercaria, Nematostrigea sp. (Trematoda: Strigeidae), with a search for potential taxonomically informative characters. The tegumental surface of a new strigeid metacercaria, Nematostrigea sp., which is a parasite of the freshwater fish Channa gachua (Hamilton) in central Vietnam, is described for the first time using scanning (SEM) and transmission (TEM) electron...

Baral, N.; Timilsina, N.; Tamang, B., 2003: Status of Bengal florican Houbaropsis bengalensis in Nepal. Surveys for the Endangered Bengal Florican Houbaropsis bengalensis were carried out in three protected areas in the Nepal terai in 2000-2001 to determine the species's status and distribution. Most sightings were of males in flight, and in ae...

Quenouille, M.H., 1950: An application of least squares to family diet surveys. This investigation was suggested by the study in which Clements (Abst. 3659, Vol. 10) assessed food consumption of children of different ages by comparing the consumption of families differing in constitution by one member. Methods are suggested b...

Gonzalez Campora, R.; Weller, R.O., 1998: Lipidized mature neuroectodermal tumour of the cerebellum with myoid differentiation. We describe a case of lipidized cerebellar tumour in a 67-year-old woman with immunocytochemical evidence of neurocytic, astrocytic, and in addition, striated muscle cell differentiation. A review of the literature on lipidized cerebellar tumours...

Henderson, Y.C.; Liu, T.J.n; Clayman, G.L., 1998: A simple and sensitive method for detecting adenovirus in serum and urine. A method to detect shed virus in patients' serum and urine was developed following Ad5CMV-p53 gene transfer via direct tumor injections. The procedure differs from those reported previously in that it first uses polyethylene glycol to precipi...

Popova, M.S., 1971: Pseudoneurotic disorders in patients following laryngectomy for malignant neoplasms. Zhurnal Nevropatologii i Psikhiatrii Imeni S.S. Korsakova 71(8): 1215-1220