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Simple mechanisms for not-so-simple decisions

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Simple mechanisms for not-so-simple decisions
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16
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CC Attribution - NonCommercial - NoDerivatives 4.0 International:
You are free to use, copy, distribute and transmit the work or content in unchanged form for any legal and non-commercial purpose as long as the work is attributed to the author in the manner specified by the author or licensor.
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Continual perceptual processing, such as required for decisions that necessitate the accumulation of evidence over time, is essential for efficient behavior. The behavior emerging from a wide range of such decisions turns out to be well-described by a surprisingly simple model family - the diffusion decision model. Taking a decision-theoretical perspective, I will discuss why diffusion models might have this property across perceptual and value-based decisions. I furthermore will highlight scenarios in which such simple models will become insufficient.