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Strategies using recent feedback lead to matching or maximising behaviours

Author

Listed:
  • Zhenbo Cheng
  • Jingying Gao
  • Leilei Zhang
  • Gang Xiao
  • Hongjing Mao

Abstract

One challenge facing humans (and nonhuman animal) is that some options that appear attractive locally may not turn out best in the long run. To analyse this human learning problem, we explore human performance in a dynamic decision-making task that places local and global rewards in conflict. We found that experiences that included previous choices and rewards are not easily incorporated into people’s strategy to enhance their performance. Our results suggest that humans are easily driven by concerns about recent feedback, and that choice of a suboptimal behaviour option may be overcome by providing informative cues that indicate a clear immediate outcome for a better option.

Suggested Citation

  • Zhenbo Cheng & Jingying Gao & Leilei Zhang & Gang Xiao & Hongjing Mao, 2018. "Strategies using recent feedback lead to matching or maximising behaviours," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 13(2), pages 212-216, March.
  • Handle: RePEc:jdm:journl:v:13:y:2018:i:2:p:212-216
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    References listed on IDEAS

    as
    1. Richard J. Herrnstein & Drazen Prelec, 1991. "Melioration: A Theory of Distributed Choice," Journal of Economic Perspectives, American Economic Association, vol. 5(3), pages 137-156, Summer.
    2. Herrnstein, R J, 1991. "Experiments on Stable Suboptimality in Individual Behavior," American Economic Review, American Economic Association, vol. 81(2), pages 360-364, May.
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