This paper presents a second-order adaptive decision making model based on expected utility. It focuses on a cognitive and affective valuing process. The model uses the main recent advances in cognitive and affective neuroscience, picoeconomics and expectancy theory. It responds to two main challenges that are hindering the study of decision making: (a) lack of formal dynamic computational models, and (b) discipline bound theories. Simulations of the model cover prediction, adaptive time-sensitive and affective valence, and the adaptivity of expectancy through learning cycles. It is discussed how the model was mathematically analyzed.
|Title of host publication||Proceedings of the Second International Conference on Decision Economics, DECON'20|
|Publisher||Springer Nature Switzerland AG|
|Publication status||Accepted/In press - 23 Mar 2020|
|Name||Advances in Intelligent Systems and Computing|