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Updated: May 29, 2026

Measuring the Subjective Value of Risky and Ambiguous Options using Experimental Economics and Functional MRI Methods
Published on: September 19, 2012
Econobiophysics - game of choosing. Model of selection or election process with diverse accessible information
Wlodzimierz Klonowski1, Michal Pierzchalski, Pawel Stepien
1Nalecz Institute of Biocybernetics and Biomedical Engineering, Polish Academy of Sciences, 4 Trojdena St,, 02-109 Warsaw, Poland. wklon@ibib.waw.pl.
Abstract:
We propose several models applicable to both selection and election processes when each selecting or electing subject has access to different information about the objects to choose from. We wrote special software to simulate these processes. We consider both the cases when the environment is neutral (natural process) as well as when the environment is involved (controlled process).
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