Abstract
SYNPOSIS. The analysis of risk-sensitive foraging is beginning to explore the psychological and cognitive mechanisms involved in decision-making under uncertainty as well as the more traditional functional analysis. Over the past 40 years cognitive psychologists exploring human decision-making have made great use of apparent in rational choice behavior in elucidating aspects of information-processing. In this paper I review several of these paradoxes as they might relate to animal decisionmaking and the interpretation of cognitive architecture. The St. Petersburg Paradox can be related directly to the original analysis of risk-sensitive foraging by focusing on the non-linear translation of resources into currencies of evolutionary value, e.g., rate of energy gain. The Allais Paradox focuses on the need to evaluate the organism's perception of probabilities and possible non-linearities in the assignment of likelihood. Various context-effects illustrate the potential difficulties associated with decisionmaking over options with multiple attributes. Where possible I illustrate the biological evaluation of the paradoxes discussed.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
