2 articles for “small feedback-based decisions”

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Research ArticleOpen accessIn the keywordsA Laboratory Study of Curiosity Behavior in Feedback-Based DecisionsTakemi FujikawaProblem statement: This study adopts an interdisciplinary approach in conducting the study on "curiosity" with a toolset of experimental economics. Approach: I hypothesized that the Decision Makers (DMs) tended to exhibit curiosity behavior when two conditions were met: (1) The DMs faced "small feedback-based" decision problems; (2) The DMs bore tangible costs of their curiosity behavior. Results: This study was … …American Journal of Applied Sciences, Vol. 7, Issue 12 · 31 Dec 2010 · 7,461 accessesView PDF Cite

Research ArticleOpen accessIn the abstractA Laboratory Study of Bayesian Updating in Small Feedback-Based Decision ProblemsTakemi Fujikawa, Sobei H. OdaThis study explores small feedback-based decision problems experimentally. Conducted were the experiments in which the decision-maker’s payoff distribution was limited to either favorable distribution or unfavorable distribution. The first remarkable observation revealed complexity/loss aversion in the experiment. The second observation included the law of small numbers. Deviations from maximization were also observed. Finally, we investigated the imperfect Bayesian decision-makers observed … …American Journal of Applied Sciences, Vol. 2, Issue 7 · 31 Jul 2005 · 6,754 accessesView PDF Cite