The Adaptive Decision Maker
Abstract
The Adaptive Decision Maker argues that people use a variety of strategies to make judgments and choices. The authors introduce a model that shows how decision makers balance effort and accuracy considerations and predicts which strategy a person will use in a given situation. A series of experiments testing the model are presented, and the authors analyse how the model can lead to improved decisions and opportunities for further research.
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Reasoning traces are verbal reports of how an LLM describes its task, not direct measures of the neural network activations that produce its behavior.
“reasoning traces are verbal reports of how an LLM describes its task, not direct measures of the neural network activations that produce its behavior.”
From Shopping by algorithm: How agentic AI deploys human heuristics as a surrogate consumer (2026) · cites this paper as Payne et al., 1993
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Shopping by algorithm: How agentic AI deploys human heuristics as a surrogate consumer
Wadi, D., & Ma, Y. (2026) · arXiv · doi:10.48550/arxiv.2609.28372
- Authors
- Payne, J. W., Bettman, J. R., & Johnson, E. J.
- Affiliations
- Duke University (US)
- University of Pennsylvania (US)
- ORCID
- Johnson, Eric J.
- Venue
- Cambridge University Press eBooks
- Publisher
- Cambridge University Press
- Published
- 1993-05-28
- OpenAlex
- W534311
- Cited by
- 3,487
- References
- 0
- Citations by year
- 2026: 121 · 2025: 128 · 2024: 82 · 2023: 112 · 2022: 124 · 2021: 136 · 2020: 122 · 2019: 117 · 2018: 108 · 2017: 145 · 2016: 139 · 2015: 151 · 2014: 144 · 2013: 139 · 2012: 159
- FWCI
- 16.29
- Type
- book
- Language
- en
- Open access
- closed
- Locations
- Cambridge University Press eBooks (publishedVersion)
- Topics
- Social Sciences › Decision Sciences › General Decision Sciences › Decision-Making and Behavioral Economics
- Health Sciences › Medicine › Family Practice › Clinical Reasoning and Diagnostic Skills
- Social Sciences › Decision Sciences › Management Science and Operations Research › Leadership, Behavior, and Decision-Making Studies
- Keywords
- adaptive decision-making, judgment strategies, decision strategies, strategy selection, decision quality, cognitive effort
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