{"pk":26921,"title":"An automatic method for discovering rational heuristics for risky choice","subtitle":null,"abstract":"What is the optimal way to make a decision given that yourtime is limited and your cognitive resources are bounded? Toanswer this question, we formalized the bounded optimal de-cision process as the solution to a meta-level Markov deci-sion process whose actions are costly computations. We ap-proximated the optimal solution and evaluated its predictionsagainst human choice behavior in the Mouselab paradigm,which is widely used to study decision strategies. Our compu-tational method rediscovered well-known heuristic strategiesand the conditions under which they are used, as well as novelheuristics. A Mouselab experiment confirmed our model’smain predictions. These findings are a proof-of-concept thatoptimal cognitive strategies can be automatically derived as therational use of finite time and bounded cognitive resources.","language":"eng","license":{"name":"","short_name":"","text":null,"url":""},"keywords":[{"word":"Decision-Making; Heuristics; Bounded Rational-ity; Strategy Selection; Rational Metareasoning"}],"section":"Talks: Papers","is_remote":true,"remote_url":"https://escholarship.org/uc/item/721295xk","frozenauthors":[{"first_name":"Falk","middle_name":"","last_name":"Lieder","name_suffix":"","institution":"University of California Berkeley","department":""},{"first_name":"Paul","middle_name":"M.","last_name":"Krueger","name_suffix":"","institution":"University of California Berkeley","department":""},{"first_name":"Thomas","middle_name":"L.","last_name":"Griffiths","name_suffix":"","institution":"University of California Berkeley","department":""}],"date_submitted":null,"date_accepted":null,"date_published":"2017-01-01T18:00:00Z","render_galley":null,"galleys":[{"label":"PDF","type":"pdf","path":"https://journalpub.escholarship.org/cognitivesciencesociety/article/26921/galley/16557/download/"}]}