Updating egocentric representations in human navigation

Presumably, the agent prefers some outcomes to others.

Suppose the four conceivable outcomes in the above decision problem are: (1) House and

Your access to the NCBI website at gov has been temporarily blocked due to a possible misuse/abuse situation involving your site.

The EMV of choice B is (0.5)( million) (0.5)(

Presumably, the agent prefers some outcomes to others.

Suppose the four conceivable outcomes in the above decision problem are: (1) House and

Presumably, the agent prefers some outcomes to others.Suppose the four conceivable outcomes in the above decision problem are: (1) House and

Presumably, the agent prefers some outcomes to others.

Suppose the four conceivable outcomes in the above decision problem are: (1) House and

Your access to the NCBI website at gov has been temporarily blocked due to a possible misuse/abuse situation involving your site.The EMV of choice B is (0.5)( million) (0.5)([[

Presumably, the agent prefers some outcomes to others.Suppose the four conceivable outcomes in the above decision problem are: (1) House and $0, (2) House and -$100, (3) No house and $99,900, and (4) No house and $0.

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Presumably, the agent prefers some outcomes to others.

Suppose the four conceivable outcomes in the above decision problem are: (1) House and $0, (2) House and -$100, (3) No house and $99,900, and (4) No house and $0.

to maximize expected utility in particular, predictable ways: for example, they make some choices based not on potential future benefits but on irrelevant past efforts (the "sunk cost fallacy").

To help people avoid this error, some theorists some basic training in microeconomics, which has been shown to reduce the likelihood that humans will commit the sunk costs fallacy (Larrick et al. Thus, through a coordination of normative, descriptive, and prescriptive research we can help agents to succeed in life by acting more in accordance with the normative model than they otherwise would. Good sources on descriptive and prescriptive decision theory include Stanovich (2010) and Hastie & Dawes (2009).

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Presumably, the agent prefers some outcomes to others.Suppose the four conceivable outcomes in the above decision problem are: (1) House and $0, (2) House and -$100, (3) No house and $99,900, and (4) No house and $0.

||

Presumably, the agent prefers some outcomes to others.

Suppose the four conceivable outcomes in the above decision problem are: (1) House and $0, (2) House and -$100, (3) No house and $99,900, and (4) No house and $0.

to maximize expected utility in particular, predictable ways: for example, they make some choices based not on potential future benefits but on irrelevant past efforts (the "sunk cost fallacy").

To help people avoid this error, some theorists some basic training in microeconomics, which has been shown to reduce the likelihood that humans will commit the sunk costs fallacy (Larrick et al. Thus, through a coordination of normative, descriptive, and prescriptive research we can help agents to succeed in life by acting more in accordance with the normative model than they otherwise would. Good sources on descriptive and prescriptive decision theory include Stanovich (2010) and Hastie & Dawes (2009).

.5 million.Choice B has a higher expected monetary value, and yet many people would prefer the guaranteed million. For many people, the difference between having [[

Presumably, the agent prefers some outcomes to others.Suppose the four conceivable outcomes in the above decision problem are: (1) House and $0, (2) House and -$100, (3) No house and $99,900, and (4) No house and $0.

||

Presumably, the agent prefers some outcomes to others.

Suppose the four conceivable outcomes in the above decision problem are: (1) House and $0, (2) House and -$100, (3) No house and $99,900, and (4) No house and $0.

to maximize expected utility in particular, predictable ways: for example, they make some choices based not on potential future benefits but on irrelevant past efforts (the "sunk cost fallacy").

To help people avoid this error, some theorists some basic training in microeconomics, which has been shown to reduce the likelihood that humans will commit the sunk costs fallacy (Larrick et al. Thus, through a coordination of normative, descriptive, and prescriptive research we can help agents to succeed in life by acting more in accordance with the normative model than they otherwise would. Good sources on descriptive and prescriptive decision theory include Stanovich (2010) and Hastie & Dawes (2009).

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Presumably, the agent prefers some outcomes to others.Suppose the four conceivable outcomes in the above decision problem are: (1) House and $0, (2) House and -$100, (3) No house and $99,900, and (4) No house and $0.

||

Presumably, the agent prefers some outcomes to others.

Suppose the four conceivable outcomes in the above decision problem are: (1) House and $0, (2) House and -$100, (3) No house and $99,900, and (4) No house and $0.

to maximize expected utility in particular, predictable ways: for example, they make some choices based not on potential future benefits but on irrelevant past efforts (the "sunk cost fallacy").

To help people avoid this error, some theorists some basic training in microeconomics, which has been shown to reduce the likelihood that humans will commit the sunk costs fallacy (Larrick et al. Thus, through a coordination of normative, descriptive, and prescriptive research we can help agents to succeed in life by acting more in accordance with the normative model than they otherwise would. Good sources on descriptive and prescriptive decision theory include Stanovich (2010) and Hastie & Dawes (2009).

million is assigns numbers to outcomes such that outcomes with higher numbers are preferred to outcomes with lower numbers.In this case, the decision maker might prefer outcome 1 over outcome 2, outcome 2 over outcome 3, and outcome 3 over outcome 4.(We'll discuss measures of value for outcomes in the next section.) An act is commonly taken to be a function that takes one set of the possible states of the world as input and gives a particular outcome as output. Of course, we could add more branches to each choice node and each chance node.

, (2) House and -0, (3) No house and ,900, and (4) No house and [[

Presumably, the agent prefers some outcomes to others.Suppose the four conceivable outcomes in the above decision problem are: (1) House and $0, (2) House and -$100, (3) No house and $99,900, and (4) No house and $0.

||

Presumably, the agent prefers some outcomes to others.

Suppose the four conceivable outcomes in the above decision problem are: (1) House and $0, (2) House and -$100, (3) No house and $99,900, and (4) No house and $0.

to maximize expected utility in particular, predictable ways: for example, they make some choices based not on potential future benefits but on irrelevant past efforts (the "sunk cost fallacy").

To help people avoid this error, some theorists some basic training in microeconomics, which has been shown to reduce the likelihood that humans will commit the sunk costs fallacy (Larrick et al. Thus, through a coordination of normative, descriptive, and prescriptive research we can help agents to succeed in life by acting more in accordance with the normative model than they otherwise would. Good sources on descriptive and prescriptive decision theory include Stanovich (2010) and Hastie & Dawes (2009).

]].

to maximize expected utility in particular, predictable ways: for example, they make some choices based not on potential future benefits but on irrelevant past efforts (the "sunk cost fallacy").

To help people avoid this error, some theorists some basic training in microeconomics, which has been shown to reduce the likelihood that humans will commit the sunk costs fallacy (Larrick et al. Thus, through a coordination of normative, descriptive, and prescriptive research we can help agents to succeed in life by acting more in accordance with the normative model than they otherwise would. Good sources on descriptive and prescriptive decision theory include Stanovich (2010) and Hastie & Dawes (2009).

, (2) House and -0, (3) No house and ,900, and (4) No house and [[

Presumably, the agent prefers some outcomes to others.Suppose the four conceivable outcomes in the above decision problem are: (1) House and $0, (2) House and -$100, (3) No house and $99,900, and (4) No house and $0.

||

Presumably, the agent prefers some outcomes to others.

Suppose the four conceivable outcomes in the above decision problem are: (1) House and $0, (2) House and -$100, (3) No house and $99,900, and (4) No house and $0.

to maximize expected utility in particular, predictable ways: for example, they make some choices based not on potential future benefits but on irrelevant past efforts (the "sunk cost fallacy").

To help people avoid this error, some theorists some basic training in microeconomics, which has been shown to reduce the likelihood that humans will commit the sunk costs fallacy (Larrick et al. Thus, through a coordination of normative, descriptive, and prescriptive research we can help agents to succeed in life by acting more in accordance with the normative model than they otherwise would. Good sources on descriptive and prescriptive decision theory include Stanovich (2010) and Hastie & Dawes (2009).

]].

, (2) House and -0, (3) No house and ,900, and (4) No house and [[

Presumably, the agent prefers some outcomes to others.Suppose the four conceivable outcomes in the above decision problem are: (1) House and $0, (2) House and -$100, (3) No house and $99,900, and (4) No house and $0.

||

Presumably, the agent prefers some outcomes to others.

Suppose the four conceivable outcomes in the above decision problem are: (1) House and $0, (2) House and -$100, (3) No house and $99,900, and (4) No house and $0.

to maximize expected utility in particular, predictable ways: for example, they make some choices based not on potential future benefits but on irrelevant past efforts (the "sunk cost fallacy").

To help people avoid this error, some theorists some basic training in microeconomics, which has been shown to reduce the likelihood that humans will commit the sunk costs fallacy (Larrick et al. Thus, through a coordination of normative, descriptive, and prescriptive research we can help agents to succeed in life by acting more in accordance with the normative model than they otherwise would. Good sources on descriptive and prescriptive decision theory include Stanovich (2010) and Hastie & Dawes (2009).

]].

to maximize expected utility in particular, predictable ways: for example, they make some choices based not on potential future benefits but on irrelevant past efforts (the "sunk cost fallacy").

To help people avoid this error, some theorists some basic training in microeconomics, which has been shown to reduce the likelihood that humans will commit the sunk costs fallacy (Larrick et al. Thus, through a coordination of normative, descriptive, and prescriptive research we can help agents to succeed in life by acting more in accordance with the normative model than they otherwise would. Good sources on descriptive and prescriptive decision theory include Stanovich (2010) and Hastie & Dawes (2009).

) =

Presumably, the agent prefers some outcomes to others.Suppose the four conceivable outcomes in the above decision problem are: (1) House and $0, (2) House and -$100, (3) No house and $99,900, and (4) No house and $0.

||

Presumably, the agent prefers some outcomes to others.

Suppose the four conceivable outcomes in the above decision problem are: (1) House and $0, (2) House and -$100, (3) No house and $99,900, and (4) No house and $0.

to maximize expected utility in particular, predictable ways: for example, they make some choices based not on potential future benefits but on irrelevant past efforts (the "sunk cost fallacy").

To help people avoid this error, some theorists some basic training in microeconomics, which has been shown to reduce the likelihood that humans will commit the sunk costs fallacy (Larrick et al. Thus, through a coordination of normative, descriptive, and prescriptive research we can help agents to succeed in life by acting more in accordance with the normative model than they otherwise would. Good sources on descriptive and prescriptive decision theory include Stanovich (2010) and Hastie & Dawes (2009).

.5 million.

Choice B has a higher expected monetary value, and yet many people would prefer the guaranteed million. For many people, the difference between having [[

Presumably, the agent prefers some outcomes to others.Suppose the four conceivable outcomes in the above decision problem are: (1) House and $0, (2) House and -$100, (3) No house and $99,900, and (4) No house and $0.

||

Presumably, the agent prefers some outcomes to others.

Suppose the four conceivable outcomes in the above decision problem are: (1) House and $0, (2) House and -$100, (3) No house and $99,900, and (4) No house and $0.

to maximize expected utility in particular, predictable ways: for example, they make some choices based not on potential future benefits but on irrelevant past efforts (the "sunk cost fallacy").

To help people avoid this error, some theorists some basic training in microeconomics, which has been shown to reduce the likelihood that humans will commit the sunk costs fallacy (Larrick et al. Thus, through a coordination of normative, descriptive, and prescriptive research we can help agents to succeed in life by acting more in accordance with the normative model than they otherwise would. Good sources on descriptive and prescriptive decision theory include Stanovich (2010) and Hastie & Dawes (2009).

]] and

Presumably, the agent prefers some outcomes to others.Suppose the four conceivable outcomes in the above decision problem are: (1) House and $0, (2) House and -$100, (3) No house and $99,900, and (4) No house and $0.

||

Presumably, the agent prefers some outcomes to others.

Suppose the four conceivable outcomes in the above decision problem are: (1) House and $0, (2) House and -$100, (3) No house and $99,900, and (4) No house and $0.

to maximize expected utility in particular, predictable ways: for example, they make some choices based not on potential future benefits but on irrelevant past efforts (the "sunk cost fallacy").

To help people avoid this error, some theorists some basic training in microeconomics, which has been shown to reduce the likelihood that humans will commit the sunk costs fallacy (Larrick et al. Thus, through a coordination of normative, descriptive, and prescriptive research we can help agents to succeed in life by acting more in accordance with the normative model than they otherwise would. Good sources on descriptive and prescriptive decision theory include Stanovich (2010) and Hastie & Dawes (2009).

million is assigns numbers to outcomes such that outcomes with higher numbers are preferred to outcomes with lower numbers.

In this case, the decision maker might prefer outcome 1 over outcome 2, outcome 2 over outcome 3, and outcome 3 over outcome 4.

(We'll discuss measures of value for outcomes in the next section.) An act is commonly taken to be a function that takes one set of the possible states of the world as input and gives a particular outcome as output. Of course, we could add more branches to each choice node and each chance node.

, (2) House and -0, (3) No house and ,900, and (4) No house and [[

Presumably, the agent prefers some outcomes to others.Suppose the four conceivable outcomes in the above decision problem are: (1) House and $0, (2) House and -$100, (3) No house and $99,900, and (4) No house and $0.

||

Presumably, the agent prefers some outcomes to others.

Suppose the four conceivable outcomes in the above decision problem are: (1) House and $0, (2) House and -$100, (3) No house and $99,900, and (4) No house and $0.

to maximize expected utility in particular, predictable ways: for example, they make some choices based not on potential future benefits but on irrelevant past efforts (the "sunk cost fallacy").

To help people avoid this error, some theorists some basic training in microeconomics, which has been shown to reduce the likelihood that humans will commit the sunk costs fallacy (Larrick et al. Thus, through a coordination of normative, descriptive, and prescriptive research we can help agents to succeed in life by acting more in accordance with the normative model than they otherwise would. Good sources on descriptive and prescriptive decision theory include Stanovich (2010) and Hastie & Dawes (2009).

]].

to maximize expected utility in particular, predictable ways: for example, they make some choices based not on potential future benefits but on irrelevant past efforts (the "sunk cost fallacy").

To help people avoid this error, some theorists some basic training in microeconomics, which has been shown to reduce the likelihood that humans will commit the sunk costs fallacy (Larrick et al. Thus, through a coordination of normative, descriptive, and prescriptive research we can help agents to succeed in life by acting more in accordance with the normative model than they otherwise would. Good sources on descriptive and prescriptive decision theory include Stanovich (2010) and Hastie & Dawes (2009).

[[

Your access to the NCBI website at gov has been temporarily blocked due to a possible misuse/abuse situation involving your site.

The EMV of choice B is (0.5)($3 million) (0.5)($0) = $1.5 million.

Choice B has a higher expected monetary value, and yet many people would prefer the guaranteed million. For many people, the difference between having $0 and $1 million is assigns numbers to outcomes such that outcomes with higher numbers are preferred to outcomes with lower numbers.

In this case, the decision maker might prefer outcome 1 over outcome 2, outcome 2 over outcome 3, and outcome 3 over outcome 4.

(We'll discuss measures of value for outcomes in the next section.) An act is commonly taken to be a function that takes one set of the possible states of the world as input and gives a particular outcome as output. Of course, we could add more branches to each choice node and each chance node.

||

Your access to the NCBI website at gov has been temporarily blocked due to a possible misuse/abuse situation involving your site.The EMV of choice B is (0.5)($3 million) (0.5)($0) = $1.5 million.Choice B has a higher expected monetary value, and yet many people would prefer the guaranteed million. For many people, the difference between having $0 and $1 million is assigns numbers to outcomes such that outcomes with higher numbers are preferred to outcomes with lower numbers.In this case, the decision maker might prefer outcome 1 over outcome 2, outcome 2 over outcome 3, and outcome 3 over outcome 4.(We'll discuss measures of value for outcomes in the next section.) An act is commonly taken to be a function that takes one set of the possible states of the world as input and gives a particular outcome as output. Of course, we could add more branches to each choice node and each chance node.

]]

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