The exploration/exploitation trade-off (EE trade-off) describes how, when faced with several competing alternatives, decision-makers must often choose between a known good alternative (exploitation) and one or more unknown but potentially more rewarding alternatives (exploration). Prevailing theory on how humans perform the EE trade-off states…

Learning to choose adaptively when faced with uncertain and variable outcomes is a central challenge for decision makers. This study examines repeated choice in dynamic probability learning tasks in which outcome probabilities changed either as a function of the choices participants made or independently of those choices. This presence/absence of…