Adele Diederich (Bremen)
Bonn-Melbourne Seminar Series in Decision Making and Computational Psychiatry
A Dynamic Dual Process Model of Intertemporal Choice
Jacobs University, Bremen, Germany
Dual process theories of decision making describe choice as the product of an automatic System 1, which is quick to activate but behaves impulsively, and a deliberative System 2, which is slower to activate but makes decisions in a rational and controlled manner. However, most existent dual process theories are not mathematically specified, and thus do not generate testable qualitative and quantitative predictions. For intertemporal choices, notable exceptions have been proposed by Fudenberg & Levine (2006) and Loewenstein et al. (2015). None of them provide a formal specification regarding the dynamics of the interplay of the two systems. The here proposed dynamic dual process model takes this into account; it makes precise predictions regarding choice probability and response time distributions. Using simulation studies, I illustrate how different factors (timing of System 1, time constraint, preferences construction functions in both systems, and architecture) influence model predictions. The modelling framework provides a mathematical approach that may bring novel insights regarding the processes underlying intertemporal choices.
Thursday, 19 May 2022, 9:00 am CEST / 5:00 pm AEST
About the series:
The Bonn-Melbourne Seminar Series in Decision Making and Computational Psychiatry is part of the joint doctoral training and research collaboration at the intersection of decision neuroscience and computational psychiatry between the University of Bonn (spokesperson: Ulrich Ettinger) and the University of Melbourne (spokesperson: Carsten Murawski).
The online seminars take place on Thursdays at 9:00 am (CEST). Talks are 45 minutes long plus 15 minutes for questions and discussion. The target audience consists of students, PhD students, postdocs and researchers from both Bonn and Melbourne who have an interest in decision-making and computational psychiatry research.
More information about the seminar series is available here: https://www.psychologie.uni-bonn.de/de-en/about-us/sections/cognitive-psychology/bonn-melbourne-seminar?set_language=en
If you wish to take part, please feel free to contact us!