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Related Concept Videos

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Decision-making is a fundamental cognitive process that involves evaluating alternatives and selecting among them. This process can range from simple choices, such as deciding what to wear, to complex decisions, like choosing a major in college or a career path. The complexity of the decision often dictates the approach we use, which can be broadly categorized into two types: automatic and controlled decision-making.
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The human brain processes information for decision-making using one of two routes: an intuitive system and a rational system (Epstein, 1994; popularized by Kahneman, 2011 as System 1 and System 2, respectively). The intuitive system is quick, impulsive, and operates with minimal effort, relying on emotions or habits to provide cues for what to do next, while the rational system is logical, analytical, deliberate, and methodical. Research in neuropsychology suggests that the...
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The process of hypothesis testing based on the traditional method includes calculating the critical value, testing the value of the test statistic using the sample data, and interpreting these values.
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Computational Complexity and Human Decision-Making.

Peter Bossaerts1, Carsten Murawski2

  • 1Brain, Mind & Markets Laboratory, Department of Finance, The University of Melbourne, Melbourne, VIC 3010, Australia; Florey Institute of Neuroscience and Mental Health, Melbourne, VIC 3010, Australia.

Trends in Cognitive Sciences
|November 19, 2017
PubMed
Summary
This summary is machine-generated.

Decision-making models often ignore option difficulty. Computational complexity theory (CCT) offers a framework to quantify decision difficulty, revealing that human choices are influenced by this complexity.

Keywords:
artificial intelligencecomputational modellingmetacognitionrationality

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Area of Science:

  • Cognitive Science
  • Decision Theory
  • Computational Neuroscience

Background:

  • The rationality principle assumes optimal choices but overlooks decision-making difficulty.
  • Existing decision models lack a framework for quantifying the complexity of finding the best option.

Purpose of the Study:

  • To propose computational complexity theory (CCT) as a framework for defining and quantifying decision difficulty.
  • To review evidence on how computational complexity affects human decision-making.
  • To argue for the intractability of current decision-making and metacognition models.

Main Methods:

  • Review of existing evidence on human decision-making and computational complexity.
  • Theoretical proposal of CCT as a framework for decision difficulty.

Main Results:

  • Human decision-making is demonstrably affected by computational complexity.
  • Current models of decision-making and metacognition are computationally intractable.
  • Biological resource constraints must be considered in future decision models.

Conclusions:

  • Computational complexity theory provides a valuable lens for understanding decision-making limitations.
  • Future theories must integrate computational resource requirements and biological constraints for plausibility.
  • Rethinking decision-making models is necessary to account for inherent computational challenges.