Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
976763 | Physica A: Statistical Mechanics and its Applications | 2010 | 8 Pages |
Abstract
Herein we develop a psychophysical model of decision making based on the difference between objective clock time and the human brain’s perception of time. In this model the utility function is given by the survival probability, which is shown to be a generalized hyperbolic distribution. The parameters of the utility function are fit to intertemporal choice model experimental data and decision making is determined to be a 1/f1/f-noise process.
Related Topics
Physical Sciences and Engineering
Mathematics
Mathematical Physics
Authors
B.J. West, P. Grigolini,