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Instance‐based learning in dynamic decision making
Open accessAbstract
This paper presents a learning theory pertinent to dynamic decision making (DDM) called instancebased learning theory (IBLT). IBLT proposes five learning mechanisms in the context of a decision‐making process: instance‐based knowledge, recognition‐based retrieval, adaptive strategies, necessity‐based choice, and feedback updates. IBLT suggests in DDM people learn with the accumulation and refinement of instances, containing the decision‐making situation, action, and utility of decisions. As decision makers interact with a dynamic task, they recognize a situation according to its similarity to past instances, adapt their judgment strategies from heuristic‐based to instance‐based, and refine the accumulated knowledge according to feedback on the result of their actions. The IBLT's learning mechanisms have been implemented in an ACT‐R cognitive model. Through a series of experiments, this paper shows how the IBLT's learning mechanisms closely approximate the relative trend magnitude and performance of human data. Although the cognitive model is bounded within the context of a dynamic task, the IBLT is a general theory of decision making applicable to other dynamic environments.
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Cites
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The description–experience gap in risky choice
Hertwig, R., & Erev, I. (2009) · Trends in Cognitive Sciences · doi:10.1016/j.tics.2009.09.004 · Cited by 911
Reinforcement learning and episodic memory in humans and animals: an integrative framework
Gershman, S. J., & Daw, N. D. (2017) · Annual Review of Psychology · doi:10.1146/annurev-psych-122414-033625 · Cited by 446
Uncertainty Types and Transitions in the Entrepreneurial Process
Packard, M. D., Clark, B. B., & Klein, P. G. (2017) · Organization Science · doi:10.1287/orsc.2017.1143 · Cited by 396
Cronin, M. A., Gonzalez, C., & Sterman, J. D. (2009) · Organizational Behavior and Human Decision Processes · doi:10.1016/j.obhdp.2008.03.003 · Cited by 347
Self-citationA choice prediction competition: Choices from experience and from description
Erev, I., Ert, E., Roth, A. E., Haruvy, E., Herzog, S. M., Hau, R., Hertwig, R., Stewart, T., West, R., & Lebiere, C. (2010) · Journal of Behavioral Decision Making · doi:10.1002/bdm.683 · Cited by 329
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Metadata
- Authors
- Gonzalez, C., Lerch, J. F., & Lebiere, C.
- Venue
- Cognitive Science
- Publisher
- Wiley
- Published
- 2003-07
- Volume
- 27
- Issue
- 4
- Pages
- 591-635
- ISSN
- 0364-0213 (ISSN-L)
- 1551-6709
- OpenAlex
- W2096130600
- Cited by
- 535
- References
- 6
- FWCI
- 10.25
- Type
- journal article
- Language
- en
- Open access
- green
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