Intrinsic Valuation of Information in Decision Making under Uncertainty
D Bennett, S Bode, M Brydevall, H Warren, C Murawski
PLoS Computational Biology | PLOS | Published : 2016
In a dynamic world, an accurate model of the environment is vital for survival, and agents ought regularly to seek out new information with which to update their world models. This aspect of behaviour is not captured well by classical theories of decision making, and the cognitive mechanisms of information seeking are poorly understood. In particular, it is not known whether information is valued only for its instrumental use, or whether humans also assign it a non-instrumental intrinsic value. To address this question, the present study assessed preference for non-instrumental information among 80 healthy participants in two experiments. Participants performed a novel information preference..View full abstract
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Awarded by Australian Research Council
This work was supported by a Faculty of Business and Economics (http://fbe.unimelb.edu.au/) Strategic Initiatives Grant 2011 to SB and CM, and by an Australian Research Council (http://www.arc.gov.au/) Discovery Early Career Researcher Award (DE140100350) to SB. The funders had no role in study design, data collection and analysis, decision to publish, or preparation of the manuscript.