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How short- and long-run aspirations impact search and choice in decisions from experience

机译:短期和长期愿望如何影响根据经验做出决策的搜索和选择

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To what extent do people adapt their information search policies and subsequent decisions to the long- and short-run consequences of choice environments? To address this question, we investigated exploration and exploitation policies in choice environments that involved single or multiple plays. We further compared behavior in these environments with behavior in the standard sampling paradigm. Frequently used in research on decision from experience, this paradigm does not explicitly implement the choice in terms of the short or long run. Results showed that people searched more in the multi-play environment than in the single-play environment. Moreover, the substantial search effort in the multi-play environment was conducive to choices consistent with expected value maximization, whereas the lesser search effort in the single-play environment was compatible with the goal of maximizing the chance of winning something. Furthermore, choice and search behaviors in the sampling paradigm predominantly echoed those observed in the single-play environment. This suggests that, when not instructed otherwise, participants in the sampling paradigm appear to favor search and choice strategies that embody short-run aspirations. Finally, the present findings challenge the revealed preference approach in decisions from experience, while also suggesting that information search may be an important and potentially even better signal of preference or aspirations than choice. (C) 2015 Elsevier B.V. All rights reserved.
机译:人们在多大程度上适应其信息搜索策略和后续决策以适应选择环境的长期和短期后果?为了解决这个问题,我们研究了涉及单个或多个项目的选择环境中的勘探和开发政策。我们进一步将这些环境中的行为与标准采样范例中的行为进行了比较。该范式经常用于根据经验进行决策研究,因此并未从短期或长期的角度明确实现选择。结果显示,人们在多人游戏环境中的搜索量比在单人游戏环境中的搜索量更多。此外,在多人游戏环境中的大量搜索工作有助于做出与期望值最大化一致的选择,而在单人游戏环境中较少的搜索工作则与最大化获胜机会的目标兼容。此外,抽样范式中的选择和搜索行为主要与在单人游戏环境中观察到的相呼应。这表明,除非另有说明,否则抽样范式的参与者似乎倾向于体现短期愿望的搜索和选择策略。最后,目前的发现挑战了根据经验做出的决定中所揭示的偏好方法,同时还表明信息搜索可能是偏好或愿望的重要信号,甚至可能比选择更好。 (C)2015 Elsevier B.V.保留所有权利。

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