krueger_2024_identifying

risky-choice psych-101

In this mouselab risky-choice study, participants (2,368 in Experiment 1 and 404 in Experiment 2, MTurk adults) sequentially reveal payoff cells of a 4-outcome x 6-gamble payoff matrix by paying a per-click cost, then choose one gamble. Experiment 2 additionally manipulates whether expected values are displayed (EV-display, con vs exp). Both experiments record every trial across instruction blocks (practice) and the test block, with per-trial clicks, click times, reaction time, gambles, payoffs, and choice. The paper derives resource-rational heuristics via machine-learning/meta-RL strategy distillation and tests when people rely on heuristic vs rational strategies, fitting strategy-selection/RL cognitive models to the click-and-choice data.

Responses
85,124
3,058 held out
CORE effects
–
no effects simulated
CORE test NLL (avg)
0.555
rank 1 of 7 models
Best model
CORE
test NLL (avg) 0.555

Likelihood of human responses

modelPNLLtest NLL (avg)test responses train NLL (avg)train responses
CORE best1,696.00.55463,0580.565482,066
CORE (no prediction errors)1,756.10.57433,0580.556182,066
CORE (no phonemes)1,698.50.55543,0580.539682,066
CORE (no forgetting)1,924.90.62953,0580.664982,066
CORE (no hierarchy)3,932.41.28593,0581.296082,066
Transformer2,462.70.80533,0580.843782,066
Centaur2,828.70.92503,058––

Experiments

exptask classparticipantsresponsesconditionssimulatedeffects
exp0MouselabExperiment12,36873,4081no–
exp1MouselabExperiment240411,7162no–

Behavioral effects

No behavioral effects were simulated for this study.

Transcript

You are choosing between gambles to earn points. Your bonus is $0.01 for every 5 points you earn.
On each round, 6 gambles labeled A, B, C, D, E, F (left to right) are on offer. Each gamble pays off in one of 4 possible outcomes, numbered 1 to 4 from top to bottom. Each outcome has a chance of occurring, shown as a percentage. The payoff of each gamble under each outcome is shown in a cell of the table, but all cells start hidden.
To reveal a cell, type its label: the gamble letter followed by the outcome number (e.g. A1 is gamble A under outcome 1). Each reveal costs 4 points. Revealed cells stay visible for the rest of the round, and you may reveal as many or as few as you like, in any order.
When you are ready, choose a gamble by typing its letter: A, B, C, D, E, or F. The outcome is then drawn at random according to the chances, and you earn that gamble's payoff for that outcome minus the 4 points you paid for each reveal.
Instruction block 1 (practice):
Trial 1. Chances: 1:1%, 2:60%, 3:2%, 4:37%.
You choose gamble A.
Outcome 2 occurs. Your gamble pays 0 points. Net: 0 points.
Trial 2. Chances: 1:12%, 2:32%, 3:45%, 4:11%.
You choose gamble C.
Outcome 4 occurs. Your gamble pays -38 points. Net: -38 points.
Trial 3. Chances: 1:21%, 2:18%, 3:4%, 4:57%.
You choose gamble F.
Outcome 1 occurs. Your gamble pays -45 points. Net: -45 points.
Instruction block 2 (practice):
Trial 4. Chances: 1:1%, 2:20%, 3:2%, 4:77%.
You choose gamble C.
Outcome 4 occurs. Your gamble pays 236 points. Net: 236 points.
Trial 5. Chances: 1:73%, 2:7%, 3:3%, 4:17%.
You choose gamble F.
Outcome 1 occurs. Your gamble pays 206 points. Net: 206 points.
Trial 6. Chances: 1:12%, 2:25%, 3:19%, 4:44%.
You choose gamble C.
Outcome 4 occurs. Your gamble pays 172 points. Net: 172 points.
Trial 7. Chances: 1:3%, 2:71%, 3:25%, 4:1%.
You choose gamble E.
Outcome 3 occurs. Your gamble pays 240 points. Net: 240 points.
Trial 8. Chances: 1:34%, 2:28%, 3:32%, 4:6%.
You choose gamble C.
Outcome 3 occurs. Your gamble pays 290 points. Net: 290 points.
Instruction block 3 (practice):
Trial 9. Chances: 1:17%, 2:3%, 3:7%, 4:73%.
You reveal E4. E4 shows 188.
You reveal B4. B4 shows -200.
You reveal D4. D4 shows 250.
You choose gamble D.
Outcome 4 occurs. Your gamble pays 250 points. Net: 238 points (payoff minus 12 points for reveals).
Trial 10. Chances: 1:1%, 2:65%, 3:22%, 4:12%.
You reveal A2. A2 shows -163.
You reveal C2. C2 shows -54.
You reveal F2. F2 shows 100.
You choose gamble E.
Outcome 2 occurs. Your gamble pays -310 points. Net: -322 points (payoff minus 12 points for reveals).
Trial 11. Chances: 1:9%, 2:48%, 3:39%, 4:4%.
You reveal A2. A2 shows -248.
You reveal B3. B3 shows 279.
You reveal F3. F3 shows 74.
You choose gamble B.
Outcome 3 occurs. Your gamble pays 279 points. Net: 267 points (payoff minus 12 points for reveals).
Test block:
Trial 12. Chances: 1:44%, 2:6%, 3:2%, 4:48%.
You reveal A4. A4 shows 8.
You reveal A1. A1 shows -132.
You reveal C4. C4 shows 18.
You choose gamble E.
Outcome 4 occurs. Your gamble pays -31 points. Net: -43 points (payoff minus 12 points for reveals).
Trial 13. Chances: 1:2%, 2:1%, 3:47%, 4:50%.
You reveal A4. A4 shows -156.
You reveal C4. C4 shows 108.
You reveal E4. E4 shows -48.
You choose gamble C.
Outcome 3 occurs. Your gamble pays 300 points. Net: 288 points (payoff minus 12 points for reveals).
Trial 14. Chances: 1:6%, 2:48%, 3:3%, 4:43%.
You reveal A2. A2 shows -61.
You reveal F2. F2 shows 260.
You reveal C2. C2 shows 69.
You choose gamble F.
Outcome 4 occurs. Your gamble pays -76 points. Net: -88 points (payoff minus 12 points for reveals).
Trial 15. Chances: 1:17%, 2:28%, 3:38%, 4:17%.
You reveal B3. B3 shows -56.
You reveal D3. D3 shows 98.
You reveal F3. F3 shows 29.
You choose gamble D.
Outcome 3 occurs. Your gamble pays 98 points. Net: 86 points (payoff minus 12 points for reveals).
Trial 16. Chances: 1:1%, 2:12%, 3:42%, 4:45%.
You reveal A4. A4 shows -8.
You reveal C4. C4 shows -98.
You reveal D4. D4 shows -272.
You choose gamble A.
Outcome 2 occurs. Your gamble pays -13 points. Net: -25 points (payoff minus 12 points for reveals).
Trial 17. Chances: 1:46%, 2:33%, 3:5%, 4:16%.
You reveal B1. B1 shows 92.
You reveal E1. E1 shows 78.
You reveal C1. C1 shows 518.
You choose gamble C.
Outcome 4 occurs. Your gamble pays -227 points. Net: -239 points (payoff minus 12 points for reveals).
Trial 18. Chances: 1:35%, 2:22%, 3:32%, 4:11%.
You reveal A3. A3 shows 123.
You reveal F3. F3 shows -12.
You reveal C3. C3 shows 237.
You choose gamble C.
Outcome 1 occurs. Your gamble pays 69 points. Net: 57 points (payoff minus 12 points for reveals).
Trial 19. Chances: 1:4%, 2:23%, 3:71%, 4:2%.
You reveal A3. A3 shows 74.
You reveal D3. D3 shows 330.
You reveal F3. F3 shows 3.
You choose gamble D.
Outcome 3 occurs. Your gamble pays 330 points. Net: 318 points (payoff minus 12 points for reveals).
Trial 20. Chances: 1:21%, 2:30%, 3:3%, 4:46%.
You reveal A4. A4 shows -129.
You reveal D4. D4 shows -112.
You reveal F4. F4 shows 12.
You choose gamble F.
Outcome 4 occurs. Your gamble pays 12 points. Net: 0 points (payoff minus 12 points for reveals).
Trial 21. Chances: 1:30%, 2:1%, 3:60%, 4:9%.
You reveal A3. A3 shows -129.
You reveal B3. B3 shows 191.
You reveal C3. C3 shows -29.
You choose gamble B.
Outcome 1 occurs. Your gamble pays 131 points. Net: 119 points (payoff minus 12 points for reveals).
Trial 22. Chances: 1:51%, 2:17%, 3:1%, 4:31%.
You reveal A1. A1 shows 121.
You reveal D1. D1 shows -103.
You reveal F1. F1 shows 106.
You choose gamble A.
Outcome 4 occurs. Your gamble pays 203 points. Net: 191 points (payoff minus 12 points for reveals).
Trial 23. Chances: 1:73%, 2:1%, 3:18%, 4:8%.
You reveal A1. A1 shows -226.
You reveal D1. D1 shows -195.
You reveal F1. F1 shows -99.
You choose gamble E.
Outcome 3 occurs. Your gamble pays 84 points. Net: 72 points (payoff minus 12 points for reveals).
Trial 24. Chances: 1:5%, 2:42%, 3:15%, 4:38%.
You reveal A2. A2 shows 139.
You reveal C2. C2 shows 154.
You reveal F2. F2 shows -188.
You choose gamble C.
Outcome 4 occurs. Your gamble pays 102 points. Net: 90 points (payoff minus 12 points for reveals).
Trial 25. Chances: 1:40%, 2:9%, 3:12%, 4:39%.
You reveal A1. A1 shows 104.
You reveal A4. A4 shows -88.
You reveal D1. D1 shows -19.
You choose gamble C.
Outcome 4 occurs. Your gamble pays 58 points. Net: 46 points (payoff minus 12 points for reveals).
Trial 26. Chances: 1:1%, 2:50%, 3:6%, 4:43%.
You reveal A2. A2 shows -21.
You reveal E2. E2 shows 142.
You reveal E4. E4 shows 182.
You choose gamble E.
Outcome 4 occurs. Your gamble pays 182 points. Net: 170 points (payoff minus 12 points for reveals).
Trial 27. Chances: 1:3%, 2:1%, 3:77%, 4:19%.
You reveal A3. A3 shows -8.
You reveal F3. F3 shows -12.
You reveal C3. C3 shows -119.
You choose gamble A.
Outcome 1 occurs. Your gamble pays -80 points. Net: -92 points (payoff minus 12 points for reveals).
Trial 28. Chances: 1:21%, 2:3%, 3:62%, 4:14%.
You reveal A3. A3 shows -106.
You reveal C3. C3 shows 26.
You reveal E3. E3 shows 14.
You choose gamble C.
Outcome 4 occurs. Your gamble pays -227 points. Net: -239 points (payoff minus 12 points for reveals).
Trial 29. Chances: 1:9%, 2:10%, 3:61%, 4:20%.
You reveal B3. B3 shows -77.
You reveal D3. D3 shows 11.
You reveal F3. F3 shows -148.
You choose gamble E.
Outcome 4 occurs. Your gamble pays 103 points. Net: 91 points (payoff minus 12 points for reveals).
Trial 30. Chances: 1:35%, 2:11%, 3:1%, 4:53%.
You reveal A4. A4 shows 195.
You reveal A1. A1 shows 149.
You reveal E4. E4 shows -140.
You choose gamble A.
Outcome 1 occurs. Your gamble pays 149 points. Net: 137 points (payoff minus 12 points for reveals).
Trial 31. Chances: 1:1%, 2:4%, 3:1%, 4:94%.
You reveal A4. A4 shows 182.
You reveal D4. D4 shows 52.
You reveal F4. F4 shows -154.
You choose gamble A.
Outcome 4 occurs. Your gamble pays 182 points. Net: 170 points (payoff minus 12 points for reveals).