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Do humans make good decisions?

Abstract:

Human performance on perceptual classification tasks approaches that of an ideal observer, but economic decisions are often inconsistent and intransitive, with preferences reversing according to the local context. We discuss the view that suboptimal choices may result from the efficient coding of decision-relevant information, a strategy that allows expected inputs to be processed with higher gain than unexpected inputs. Efficient coding leads to 'robust' decisions that depart from optimality...

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Publisher copy:
10.1016/j.tics.2014.11.005

Authors


Summerfield, C More by this author
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Institution:
University of Oxford
Department:
Oxford, MSD, Experimental Psychology
Publisher:
Elsevier Ltd
Journal:
Trends in Cognitive Sciences
Volume:
19
Issue:
1
Pages:
27-34
Publication date:
2015
DOI:
EISSN:
1879-307X
ISSN:
1364-6613
URN:
uuid:1d985f96-5d91-484f-ac49-c0060b4c60eb
Source identifiers:
502730
Local pid:
pubs:502730

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