BROWSE

Related Researcher

Author's Photo

Kwon, Oh-Sang
Perception & Action Lab
Research Interests
  • Aging, Visual perception, Human motor control, Statistical learning, Bayesian inference

ITEM VIEW & DOWNLOAD

Subjective optimality in finite sequential decision-making

Cited 0 times inthomson ciCited 0 times inthomson ci
Title
Subjective optimality in finite sequential decision-making
Author
Sin, YeonjuSeon, HeeYoungShin, Yun KyoungKwon, Oh-SangChung, Dongil
Issue Date
2021-12
Publisher
Public Library of Science
Citation
PLOS COMPUTATIONAL BIOLOGY, v.17, no.12, pp.e1009633
Abstract
Author summaryIn many real-life decisions, such as hiring an employee, the current candidate is the only option decision-makers can choose among sequentially revealed options, while past options are forgone and future options are unknown. To make the best choice in such problems, decision-makers should set appropriate criteria considering the distribution of values and remaining chances. Here, we provide behavioral and physiological evidence for subjective valuation that explains how individuals set criteria deviating from optimality. The extent to which individuals expect from candidates, how sensitive they are to the value of candidates, and how costly it is to examine each candidate determine the way how individuals make choices. Our results suggest that seemingly suboptimal decision strategies in finite sequential decisions may be optimal in subjective valuation. Many decisions in life are sequential and constrained by a time window. Although mathematically derived optimal solutions exist, it has been reported that humans often deviate from making optimal choices. Here, we used a secretary problem, a classic example of finite sequential decision-making, and investigated the mechanisms underlying individuals' suboptimal choices. Across three independent experiments, we found that a dynamic programming model comprising subjective value function explains individuals' deviations from optimality and predicts the choice behaviors under fewer and more opportunities. We further identified that pupil dilation reflected the levels of decision difficulty and subsequent choices to accept or reject the stimulus at each opportunity. The value sensitivity, a model-based estimate that characterizes each individual's subjective valuation, correlated with the extent to which individuals' physiological responses tracked stimuli information. Our results provide model-based and physiological evidence for subjective valuation in finite sequential decision-making, rediscovering human suboptimality in subjectively optimal decision-making processes.
URI
https://scholarworks.unist.ac.kr/handle/201301/55325
URL
https://journals.plos.org/ploscompbiol/article?id=10.1371/journal.pcbi.1009633
DOI
10.1371/journal.pcbi.1009633
ISSN
1553-734X
Appears in Collections:
BME_Journal Papers
Files in This Item:
000731436300004.pdf Download

find_unist can give you direct access to the published full text of this article. (UNISTARs only)

Show full item record

qrcode

  • mendeley

    citeulike

Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.

MENU