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CATEGORIES:Marr Club
SUMMARY:Economic irrationality is optimal during noisy dec
 ision-making - Konstantinos Tsetsos\, Birkbeck\, U
 niversity of London
DTSTART;TZID=Europe/London:20160307T141500
DTEND;TZID=Europe/London:20160307T151500
UID:TALK63992AThttp://talks.cam.ac.uk
URL:http://talks.cam.ac.uk/talk/index/63992
DESCRIPTION:Humans violate rational choice theory systematical
 ly but why the do so remains unclear. I will prese
 nt a mechanistic model\, dubbed selective integrat
 ion\, according to which economic irrationality st
 ems 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 sele
 ctive integration. These results suggest that econ
 omic irrationality does not reflect the limits of 
 human information processing (as it has been widel
 y argued) but is rather an adaptation in response 
 to noise during neural information processing.
LOCATION:Kenneth Craik Room\, Craik Marshall Building\, Dow
 ning Site\, Cambridge
CONTACT:Paula Kaanders
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