Psychology and Brain Sciences | Choice Behavior
P648 | 27440 | Busemeyer, J.
Choice is the behavioral interface between the brain and the
environment, and consequently, understanding this basic process is
fundamental to all fields of human activity. This course will begin
with what is considered the optimal way of making choices – expected
utility theory -- which prescribes how to combine beliefs with
values. The synthesis expected utility with Bayesian inference
produces the well known signal detection model of decision making.
However, the signal detection model is a static model, and its
dynamic extension is known as the random walk or diffusion model of
decision making. Random walk/diffusion models have been used to
model decisions ranging from sensation, perception, memory,
categorization, and even consumer preferences. Artificial neural
network models of choice can be viewed as nonlinear extensions of
diffusion models. This course will link together all of these
theories, describe how to use these models to explain data, and
review empirical for and against these theories.