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Continuous decisions
Seng Bum Michael Yoo1, Benjamin Yost Hayden2, John M Pearson3
1Center for Neuroscience Imaging Research, Institute for Basic Science, Suwon, Republic of Korea, 16419.
This study advocates for expanding decision-making research to include continuous decisions, which involve evolving options and feedback loops. Understanding these complex choices requires new theoretical frameworks beyond traditional economic models.
Area of Science:
- Cognitive Science
- Neuroscience
- Behavioral Economics
Background:
- Decision-making research predominantly focuses on discrete choices between two options.
- Real-world decisions often involve continuous options and evolve over time.
Purpose of the Study:
- Advocate for the expansion of decision-making studies to include continuous decisions.
- Propose new theoretical frameworks for understanding continuous decision-making.
Main Methods:
- Conceptual analysis and theoretical proposal.
- Drawing parallels with engineering control theory.
Main Results:
- Continuous decisions involve a spectrum of responses modified over time.
- Reciprocal feedback between choices and environment is crucial.
- New research questions arise regarding valuation, simulation, and hierarchical processing.
Conclusions:
- Engineering control theory offers a more suitable foundation for continuous decisions than microeconomics.
- Goal states and policies may be more relevant than 'value' for continuous decisions.
- Expanding decision-making research to continuous choices offers significant scientific potential.
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