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Two Distinct Exploratory Behaviors in Decisions from Experience: Comment on Gonzalez and Dutt (2011)
Peer reviewed
Direct linkHills, Thomas T.; Hertwig, Ralph – Psychological Review, 2012
Gonzalez and Dutt (2011) recently reported that trends during sampling, prior to a consequential risky decision, reveal a gradual movement from exploration to exploitation. That is, even when search imposes no immediate costs, people adopt the same pattern manifest in costly search: early exploration followed by later exploitation. From this…
Descriptors: Decision Making, Models, Inferences, Sampling
