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Dynamics of decision making : from evidence to preference and belief
Decision-making is a dynamic process that begins with the accumulation
of evidence and ends with the adjustment of belief.
Each step is itself subject to a number of dynamic processes, such
as planning, information search and evaluation. Furthermore,
choice behavior reveals a number of challenging patterns, such
as order effects and contextual preference reversal. Research in
this field has converged toward a standard computational framework
for the process of evidence integration and belief updating,
based on sequential sampling models, which under some conditions
are equivalent to normative Bayesian theory (Gold and
Shadlen, 2007). A variety of models have been developed within
the sequential sampling framework that can account for accuracy,
response-time distributional data, and the speed-accuracy tradeoff
(Busemeyer and Townsend, 1993; Usher and Mcclelland, 2001;
Brown and Heathcote, 2008; Ratcliff and McKoon, 2008).
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