Original paper
The ecology of competition: A theory of risk–reward environments in adaptive decision making.
Abstract
In many choice environments, risks and rewards-or probabilities and payoffs-seem tightly coupled such that high payoffs only occur with low probabilities. An adaptive mind can exploit this association by, for instance, using a potential reward's size to infer the probability of obtaining it. However, a mind can only adapt to and exploit an environmental structure if it is ecologically reliable, that is if it is frequent and recurrent. We develop...
Paper Details
Title
The ecology of competition: A theory of risk–reward environments in adaptive decision making.
Published Date
Mar 1, 2021
Journal
Volume
128
Issue
2
Pages
315 - 335
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Notes
History