Work

Violations of transitivity under fitness maximization

Year: 2007

Type: article

Abstract: We present a novel demonstration that violations of transitive choice can result from decision strategies that maximize fitness. Our results depend on how the available options, including options not currently chosen, influence a decision-maker's expectations about the future. In particular, they depend on how the presence of an option may act as an insurance against a run of bad luck in the future.

Source: Biology Letters

DOI: 10.1098/rsbl.2007.0111

Authors: Alasdair I Houston, John M McNamara, Mark D Steer

Institution: University of Bristol

Language: English

Topic: Decision-Making and Behavioral Economics

Subfield: General Decision Sciences

Field: Decision Sciences

Domain: Social Sciences

Open Access status: green

OpenAlex ID: W2087426641

FWCI: 1.479

Cites: 21

Cited by: 51

Related to: 10