IST LUNCH BUNCH

Abstract:

Across a variety of behavioral settings, humans have been noted to act irrationally or sub-optimally. Using a combination of theoretical and experimental tools, we have found that such behavior may sometimes reflect statistically optimal learning and decision-making, whereby the human subjects are continually tracking statistical regularities in the environment based on data, and altering their decision policies in response to evolving beliefs. In this talk, I will describe how this theoretical framework can explain experimental results in perception, active sensing, cognitive control, and consumer decision-making.