Testing Expected Subjective Value Theory in an Empirical Dataset

Paul Glimcher & Vered Kurtz-David
Expected Subjective Value Theory (ESVT) is a combined neurobiological and economic theory of choice. It defines a value function for transforming objective reward magnitudes into subjective values for use in choice. In this study we seek to determine whether ESVT outperforms Random Utility Theory and/or Choice set specific Optimal Coding in accounting for human choice behavior.
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