Learning and choosing in an uncertain world: An investigation of the explore–exploit dilemma in static and dynamic environments.

How do people solve the explore–exploit trade-off in a changing environment? In this paper we present experimental evidence from an “observe or bet” task, in which people have to determine when to engage in information-seeking behavior and when to switch to reward-taking actions. In particular we fo...

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Bibliographic Details

Published in:	Cognitive Psychology Vol. 85; pp. 43 - 78
Main Authors:	Navarro, Daniel J., Newell, Ben R., Schulze, Christin
Format:	Article
Published:	Academic Press Inc. Mar2016
Subjects:	Information-seeking behavior Human behavior Mathematical models Learning problems
Online Access:	View this record in EBSCOhost