Risky Futures: Toward a Computational Process Model of Risky Inter-Temporal Choice. A lot is known about people’s preferences. People like their rewards now. Most would prefer $10 today than $20 in one month. Risk is also unattractive; a certain $10 is more attractive than a 50 per cent chance of receiving $25. Surprisingly, much less is known about the interaction between delay and risk. That is, relatively little is known about whether people prefer $10 now, or a 50 per cent chance of $50 in ....Risky Futures: Toward a Computational Process Model of Risky Inter-Temporal Choice. A lot is known about people’s preferences. People like their rewards now. Most would prefer $10 today than $20 in one month. Risk is also unattractive; a certain $10 is more attractive than a 50 per cent chance of receiving $25. Surprisingly, much less is known about the interaction between delay and risk. That is, relatively little is known about whether people prefer $10 now, or a 50 per cent chance of $50 in one month. This project will use a combination of experiments and cognitive modelling to examine all three types of choice. The outcome will be a novel computational model that will elucidate the complex interaction between delay and risk, thereby answering an enduring question in the literature: are risk and delay psychologically equivalent?Read moreRead less
Unifying decisions from experience and description. The project aims to answer an enduring question: are separate theories required for decisions from experience and description? For some decisions, potential outcomes and probabilities are known – a gamble offering a 10 per cent chance to win $100 or a 90 per cent chance of nothing, for example. For many others, there is no ‘look-up table’ of probabilities and outcomes and so we must learn them via experience. Intriguingly, risky choices made on ....Unifying decisions from experience and description. The project aims to answer an enduring question: are separate theories required for decisions from experience and description? For some decisions, potential outcomes and probabilities are known – a gamble offering a 10 per cent chance to win $100 or a 90 per cent chance of nothing, for example. For many others, there is no ‘look-up table’ of probabilities and outcomes and so we must learn them via experience. Intriguingly, risky choices made on the basis of described or experienced information differ markedly. This project examines why this divergence occurs. The project plans to test an innovative approach that unifies both types of decisions into a single theoretical framework and provides a suite of empirical and modelling results.Read moreRead less
Toward a unified account of adaptive decision making: learning to search, stop and decide. The quality of decision making, our own and those with influence over us is a fundamental concern. The centrality of this issue means that it is crucial to understand the cognitive processes underlying human decision making. This project will deliver new insights into these processes and make key recommendations for improving decision making.
Learning and choosing in a complex world. How do people make choices in a complex world? Making good choices requires expertise, but people must often forego rewards in order to acquire this knowledge. This is the essence of an "explore-exploit dilemma": to maximise rewards across a long time frame, people must take the time to explore and learn now. Empirically, this project aims to unify much of the existing psychological literature and extend it to cover richer, more complex problems. Theoret ....Learning and choosing in a complex world. How do people make choices in a complex world? Making good choices requires expertise, but people must often forego rewards in order to acquire this knowledge. This is the essence of an "explore-exploit dilemma": to maximise rewards across a long time frame, people must take the time to explore and learn now. Empirically, this project aims to unify much of the existing psychological literature and extend it to cover richer, more complex problems. Theoretically, the project aims to use tools from machine learning to compare human decision making to optimal planning models.Read moreRead less
A new approach to understanding decision making. Mathematical theories of decision-making have helped us understand many aspects of psychology (such as ageing, gambling, psychological disorders and consumer decisions). This project will extend these theories to a new level of finer-grained analysis, opening up new possibilities for understanding cognition and behaviour.
Misinformation: Evidence evaluation in an alternate fact reality . This project aims to understand why people believe misinformation. Misinformation causes some people to adopt implausible beliefs. These beliefs pose a significant challenge for society because they can result in behaviours that negatively impact personal and public safety. By combining surveys, qualitative analysis, and systematic experimentation, this project will identify differences in evidence evaluation and persuasiveness b ....Misinformation: Evidence evaluation in an alternate fact reality . This project aims to understand why people believe misinformation. Misinformation causes some people to adopt implausible beliefs. These beliefs pose a significant challenge for society because they can result in behaviours that negatively impact personal and public safety. By combining surveys, qualitative analysis, and systematic experimentation, this project will identify differences in evidence evaluation and persuasiveness between people who believe misinformation and those who do not. It is anticipated that our novel approach will build knowledge about misinformation effects and will reduce associated harms by expanding our understanding of how to communicate effectively with people who are persuaded by misinformation.Read moreRead less
Discovery Early Career Researcher Award - Grant ID: DE140101181
Funder
Australian Research Council
Funding Amount
$384,183.00
Summary
How Do Our Past Decisions Affect Our Present Decisions? – An Innovative Model. Decisions under time pressure made in the past have a tendency to affect our current decisions. This phenomenon is often termed ‘sequential effects’. Typically, sequential effects are explained by positing the existence of a psychological mechanism that is specifically aimed at resolving conflicting information. The aim of this project is to develop a computational model that produces sequential effects naturally. Inn ....How Do Our Past Decisions Affect Our Present Decisions? – An Innovative Model. Decisions under time pressure made in the past have a tendency to affect our current decisions. This phenomenon is often termed ‘sequential effects’. Typically, sequential effects are explained by positing the existence of a psychological mechanism that is specifically aimed at resolving conflicting information. The aim of this project is to develop a computational model that produces sequential effects naturally. Innovatively, this model would remove the need for an explicit conflict monitoring mechanism. This project is significant because it progresses our understanding of how humans deal with conflict. The expected outcome is a comprehensive, quantitative account of sequential effects in human decision making.Read moreRead less
How strong inference has failed psychology, and an updated approach. There are so many quantitative theories of cognition that it can be difficult to see the forest for the trees. This project will contend that this is caused by suboptimal model selection. Comprehensive data sets and modern statistical techniques will be used to evaluate competing accounts in five paradigms, thinning the trees to reveal the forest.
Exploration, Generalisation and the Development of Learning Traps. This project addresses three fundamental questions about human decision-making; 1) how does exploratory choice lead to “learning traps”, persistent patterns of poor decision-making that cause us to miss rewards and experience losses? 2) how does susceptibility to traps change with age? 3) what strategies prevent traps or facilitate escape? The project will advance our understanding of the cognitive processes underlying adult and ....Exploration, Generalisation and the Development of Learning Traps. This project addresses three fundamental questions about human decision-making; 1) how does exploratory choice lead to “learning traps”, persistent patterns of poor decision-making that cause us to miss rewards and experience losses? 2) how does susceptibility to traps change with age? 3) what strategies prevent traps or facilitate escape? The project will advance our understanding of the cognitive processes underlying adult and child decision-making, using innovative experimental paradigms and computational modeling. Expected outcomes include a novel computational model that explains developmental change in trap formation. The results will guide strategies for improved decision-making in educational, financial, and social settings.Read moreRead less
The value of time during decisions. This project aims to investigate how people value time during decision making. Using an innovative combination of carefully designed experiments and state-of-the-art mathematical cognitive models, this project expects to generate new knowledge regarding how efficiently people allocate time when making decisions, the factors that allow people to perform optimally and those that lead to suboptimal performance. The anticipated outcome of the project is a new fram ....The value of time during decisions. This project aims to investigate how people value time during decision making. Using an innovative combination of carefully designed experiments and state-of-the-art mathematical cognitive models, this project expects to generate new knowledge regarding how efficiently people allocate time when making decisions, the factors that allow people to perform optimally and those that lead to suboptimal performance. The anticipated outcome of the project is a new framework for understanding the optimality of human decision making. This outcome has the potential benefit of providing insight into decision mechanisms across a range of contexts, particularly ageing and models of applied decision making.Read moreRead less