W. Schultz

Risky choice: probability weighting explains Independence Axiom violations in monkeys

This study shows monkeys exhibit graded preference changes in risky choices, better explained by probability weighting in Cumulative Prospect Theory than Expected Utility Theory.

Comparing utility functions between risky and riskless choice in rhesus monkeys

This study shows that rhesus monkeys use different utility functions for risky and riskless choices, suggesting distinct neural mechanisms for each.

Adaptation of utility functions to reward distribution in rhesus monkeys

This study shows that rhesus monkeys adjust their utility functions based on experienced reward distributions, with adaptations influenced by past rewards and future expectations.

Non-human primates satisfy utility maximization in compliance with the continuity axiom of Expected Utility Theory

This study shows that rhesus macaques comply with the continuity axiom of Expected Utility Theory, supporting the existence of a numerical utility function for decision-making.

Reward value revealed by auction in rhesus monkeys

This paper introduces a BDM auction mechanism to directly measure subjective reward value in rhesus monkeys through individual choices, showing it aligns with conventional methods and enables single-trial analysis.