Chapter 8 Outline
Overview
Animal Decisions
Acquiring Information
- Probability meters
- Prior probabilities
- Red lines and optimal decisions
- Gaining additional information
- Conditional probabilities and signal coding
- Updating
Dynamic Decision Making
Biased Decision Making
- Types of biases
- Explanations for biases: Curvilinear utility functions
- Explanations for biases: Weber’s law
- Explanations for biases: Other considerations
Coding Strategies
- Signal set design
- Mapping schemes
- Measures of coding effectiveness
- So, what is information?