A multitude of models have been proposed to account for the neural mechanism of value integration and decision making in speeded decision tasks. While most of these models account for existing data, they largely disagree on a fundamental characteristic of the choice mechanism: independent versus different types of competitive processing. Five…

If the diffusion model (Ratcliff & McKoon, 2008) is to account for the relative speeds of correct responses and errors, it is necessary that the components of processing identified by the model vary across the trials of a task. In standard applications, the rate at which information is accumulated by the diffusion process is assumed to be normally…

Traditional approaches within the framework of signal detection theory (SDT; Green & Swets, 1966), especially in the field of recognition memory, assume that the positioning of response criteria is not a noisy process. Recent work (Benjamin, Diaz, & Wee, 2009; Mueller & Weidemann, 2008) has challenged this assumption, arguing not only…

Melioration--defined as choosing a lesser, local gain over a greater longer term gain--is a behavioral tendency that people and pigeons share. As such, the empirical occurrence of meliorating behavior has frequently been interpreted as evidence that the mechanisms of human choice violate the norms of economic rationality. In some environments, the…

An important category of seemingly maladaptive decisions involves failure to postpone gratification. A person pursuing a desirable long-run outcome may abandon it in favor of a short-run alternative that has been available all along. Here we present a theoretical framework in which this seemingly irrational behavior emerges from stable preferences…

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…

Hills and Hertwig (2012) challenge the proposed similarity of the exploration-exploitation transitions found in Gonzalez and Dutt (2011) between the 2 experimental paradigms of decisions from experience (sampling and repeated-choice), which was predicted by an instance-based learning (IBL) model. The heart of their argument is that in the sampling…

Models of decision making are distinguished by those that aim for an optimal solution in a world that is precisely specified by a set of assumptions (a so-called "small world") and those that aim for a simple but satisfactory solution in an uncertain world where the assumptions of optimization models may not be met (a so-called "large world"). Few…

Theories of rational choice often make the structural consistency assumption that every decision maker's binary strict preference among choice alternatives forms a "strict weak order". Likewise, the very concept of a "utility function" over lotteries in normative, prescriptive, and descriptive theory is mathematically equivalent to strict weak…

People have strong intuitions about the influence objects exert upon one another when they collide. Because people's judgments appear to deviate from Newtonian mechanics, psychologists have suggested that people depend on a variety of task-specific heuristics. This leaves open the question of how these heuristics could be chosen, and how to…

We present a new model for the general study of how the truth and biases affect human judgment. In the truth and bias model, judgments about the world are pulled by 2 primary forces, the truth force and the bias force, and these 2 forces are interrelated. The truth and bias model differentiates force and value, where the force is the strength of…

Many theories of human cognition postulate that people are equipped with a repertoire of strategies to solve the tasks they face. This theoretical framework of a cognitive toolbox provides a plausible account of intra- and interindividual differences in human behavior. Unfortunately, it is often unclear how to rigorously test the toolbox…

In their influential "Psychological Review" article, Bogacz, Brown, Moehlis, Holmes, and Cohen (2006) discussed optimal decision making as accomplished by the drift diffusion model (DDM). The authors showed that neural inhibition models, such as the leaky competing accumulator model (LCA) and the feedforward inhibition model (FFI), can mimic the…

Interest in and research on disgust has surged over the past few decades. The field, however, still lacks a coherent theoretical framework for understanding the evolved function or functions of disgust. Here we present such a framework, emphasizing 2 levels of analysis: that of evolved function and that of information processing. Although there is…

Laboratory studies on a range of animals have identified a bias that seems to violate basic principles of rational behavior: A preference is shown for feeding options that previously provided food when reserves were low, even though another option had been found to give the same reward with less delay. The bias presents a challenge to normative…