Exploration and exploitation in choice
Fri, April 18, 2014 • 12:00 PM - 1:00 PM • SEA Library, 4.244
Cognitive Science Area Meeting
Speaker: Art Markman, Department of Psychology, UT Austin
Most decisions are made in contexts in which the decision maker has prior knowledge about the options. In these situations, decisions involve a tradeoff betweenexploring the set of options and exploiting the options that previous experience suggests are best. This talk examines research on motivational, trait, and environmental factors that influence the way this tradeoff is resolved.