| Literature DB >> 23740781 |
Abstract
Understanding decisions is a fundamental aim of behavioural ecology, psychology and economics. The regularity axiom of utility theory holds that a preference between options should be maintained when other options are made available. Empirical studies have shown that animals violate regularity but this has not been understood from a theoretical perspective, such decisions have therefore been labelled as irrational. Here, I use models of state-dependent behaviour to demonstrate that choices can violate regularity even when behavioural strategies are optimal. I also show that the range of conditions over which regularity should be violated can be larger when options do not always persist into the future. Consequently, utility theory--based on axioms, including transitivity, regularity and the independence of irrelevant alternatives--is undermined, because even alternatives that are never chosen by an animal (in its current state) can be relevant to a decision.Keywords: independence of irrelevant alternatives; natural selection; optimal decision-making; rationality; regularity; transitivity
Mesh:
Year: 2013 PMID: 23740781 PMCID: PMC3774235 DOI: 10.1098/rspb.2013.0858
Source DB: PubMed Journal: Proc Biol Sci ISSN: 0962-8452 Impact factor: 5.349