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On Idiosyncratic Biases in Decision-Making

Yonatan Loewenstein

ELSC, The Hebrew University

Recording

51 min

Abstract

Why do individuals, both humans and animals, exhibit personal biases in two-alternative decision-making tasks, even when no clear reason exists to favor one alternative over another? In this talk, I will explore two competing hypotheses to explain these idiosyncratic biases.  The first suggests that such tendencies arise from unique personal experiences, where past associations between actions and feedback influence future choices. The second hypothesis proposes that the bias reflects irreducible microscopic heterogeneities in the dynamics of decision-making networks. I will present experimental data and theoretical findings that support the latter hypothesis,  shedding new light on the neural mechanisms behind seemingly irrational preferences.

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