Value construction through sequential sampling explains serial dependencies in decision making.

ABSTRACT: Many decisions are expressed as a preference for one item over another. When these items are familiar, it is often assumed that the decision maker assigns a value to each of the items and chooses the item with the highest value. These values may be imperfectly recalled, but are assumed to be stable over the course of an interview or psychological experiment. Choices that are inconsistent with a stated valuation are thought to occur because of unspecified noise that corrupts the neural representation of value. Assuming that the noise is uncorrelated over time, the pattern of choices and response times in value-based decisions are modeled within the framework of Bounded Evidence Accumulation (BEA), similar to that used in perceptual decision-making. In BEA, noisy evidence samples accumulate

SUBMITTER: Zylberberg A 

PROVIDER: S-EPMC11482742 | biostudies-literature | 2024 Oct

REPOSITORIES: biostudies-literature