Economic irrationality is optimal during noisy decision-making

Add to your list(s) Download to your calendar using vCal

• Konstantinos Tsetsos, Birkbeck, University of London
• Monday 07 March 2016, 14:15-15:15
• Kenneth Craik Room, Craik Marshall Building, Downing Site, Cambridge.

If you have a question about this talk, please contact Paula Kaanders.

If you are interested in receiving reminders and further information about Marr Club talks, please sign up to our mailing list ‘psychol-marr-club’ at https://lists.cam.ac.uk/

Humans violate rational choice theory systematically but why the do so remains unclear. I will present a mechanistic model, dubbed selective integration, according to which economic irrationality stems from an early bottleneck that dampens the gain of processing of weaker inputs. This bottleneck, asides from leading to violations of rationality, can nullify the influence of late noise arising beyond the sensory stage. I will present empirical results confirming this ameliorative role of selective integration. These results suggest that economic irrationality does not reflect the limits of human information processing (as it has been widely argued) but is rather an adaptation in response to noise during neural information processing.

This talk is part of the Marr Club series.

This talk is included in these lists:

• Kenneth Craik Room, Craik Marshall Building, Downing Site, Cambridge
• Marr Club
• Psychology talks and events
• Yishu's list

Note that ex-directory lists are not shown.