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{
    "pk": 26958,
    "title": "Make-or-break: chasing risky goals or settling for safe rewards?",
    "subtitle": null,
    "abstract": "Humans regularly invest time towards activities characterized by dramatic success or failure outcomes, where criti-cally, the outcome is uncertain ex-ante. How should people allocate time between such make-or-break activities and other safealternatives, where rewards are more predictable (e.g., linear) functions of time? We present a formal framework for studyingtime allocation between these two types of activities, and explore (optimal) behavior in both one-shot and dynamic versions ofthe problem. In the one-shot version, we illustrate the striking discontinuous relation between peoples skill and optimal timeallocation to the make-or-break task. In the dynamic version, we formulate both fully rational and boundedly rational strategies,both defined by a giving up threshold, which adaptively dictates when one should cease pursuit of the make- or-break goal.Comparing strategies across environments, we investigate the cost of sidestepping the computational burden of full rationality.",
    "language": "eng",
    "license": {
        "name": "",
        "short_name": "",
        "text": null,
        "url": ""
    },
    "keywords": [],
    "section": "Talks: Papers",
    "is_remote": true,
    "remote_url": "https://escholarship.org/uc/item/3h35745j",
    "frozenauthors": [
        {
            "first_name": "Pantelis",
            "middle_name": "Pipergias",
            "last_name": "Analytis",
            "name_suffix": "",
            "institution": "Cornell University",
            "department": ""
        },
        {
            "first_name": "Charley",
            "middle_name": "",
            "last_name": "Wu",
            "name_suffix": "",
            "institution": "Max Planck Institute for Human Development",
            "department": ""
        },
        {
            "first_name": "Alexandros",
            "middle_name": "",
            "last_name": "Gelastopoulos",
            "name_suffix": "",
            "institution": "Boston University",
            "department": ""
        },
        {
            "first_name": "Angelo",
            "middle_name": "",
            "last_name": "Pirrone",
            "name_suffix": "",
            "institution": "University of Sheffield",
            "department": ""
        },
        {
            "first_name": "Tom",
            "middle_name": "",
            "last_name": "Stafford",
            "name_suffix": "",
            "institution": "University of Sheffield",
            "department": ""
        }
    ],
    "date_submitted": null,
    "date_accepted": null,
    "date_published": "2017-01-02T00:00:00+06:00",
    "render_galley": null,
    "galleys": [
        {
            "label": "PDF",
            "type": "pdf",
            "path": "https://journalpub.escholarship.org/cognitivesciencesociety/article/26958/galley/16594/download/"
        }
    ]
}