30,454 research outputs found
Bandit Models of Human Behavior: Reward Processing in Mental Disorders
Drawing an inspiration from behavioral studies of human decision making, we
propose here a general parametric framework for multi-armed bandit problem,
which extends the standard Thompson Sampling approach to incorporate reward
processing biases associated with several neurological and psychiatric
conditions, including Parkinson's and Alzheimer's diseases,
attention-deficit/hyperactivity disorder (ADHD), addiction, and chronic pain.
We demonstrate empirically that the proposed parametric approach can often
outperform the baseline Thompson Sampling on a variety of datasets. Moreover,
from the behavioral modeling perspective, our parametric framework can be
viewed as a first step towards a unifying computational model capturing reward
processing abnormalities across multiple mental conditions.Comment: Conference on Artificial General Intelligence, AGI-1
Building Machines That Learn and Think Like People
Recent progress in artificial intelligence (AI) has renewed interest in
building systems that learn and think like people. Many advances have come from
using deep neural networks trained end-to-end in tasks such as object
recognition, video games, and board games, achieving performance that equals or
even beats humans in some respects. Despite their biological inspiration and
performance achievements, these systems differ from human intelligence in
crucial ways. We review progress in cognitive science suggesting that truly
human-like learning and thinking machines will have to reach beyond current
engineering trends in both what they learn, and how they learn it.
Specifically, we argue that these machines should (a) build causal models of
the world that support explanation and understanding, rather than merely
solving pattern recognition problems; (b) ground learning in intuitive theories
of physics and psychology, to support and enrich the knowledge that is learned;
and (c) harness compositionality and learning-to-learn to rapidly acquire and
generalize knowledge to new tasks and situations. We suggest concrete
challenges and promising routes towards these goals that can combine the
strengths of recent neural network advances with more structured cognitive
models.Comment: In press at Behavioral and Brain Sciences. Open call for commentary
proposals (until Nov. 22, 2016).
https://www.cambridge.org/core/journals/behavioral-and-brain-sciences/information/calls-for-commentary/open-calls-for-commentar
Language (Technology) is Power: A Critical Survey of "Bias" in NLP
We survey 146 papers analyzing "bias" in NLP systems, finding that their
motivations are often vague, inconsistent, and lacking in normative reasoning,
despite the fact that analyzing "bias" is an inherently normative process. We
further find that these papers' proposed quantitative techniques for measuring
or mitigating "bias" are poorly matched to their motivations and do not engage
with the relevant literature outside of NLP. Based on these findings, we
describe the beginnings of a path forward by proposing three recommendations
that should guide work analyzing "bias" in NLP systems. These recommendations
rest on a greater recognition of the relationships between language and social
hierarchies, encouraging researchers and practitioners to articulate their
conceptualizations of "bias"---i.e., what kinds of system behaviors are
harmful, in what ways, to whom, and why, as well as the normative reasoning
underlying these statements---and to center work around the lived experiences
of members of communities affected by NLP systems, while interrogating and
reimagining the power relations between technologists and such communities
CLASSICAL LASSICAL AND BEHAVIOURAL FINANCE IN INVESTOR DECISION
Conceptual model of individual investor behavior presented in this paper aims to structure a part of the vast knowledge about investor behavior that is present in the finance field. The investment process could be seen as driven by dual mental processes (cognitive and affective) and the interplay between these systems contributes to bounded rational behavior manifested through various heuristics and biases. The investment decision is seen as a result of an interaction between the investor and the investment environmentinvestor behaviour; financial decisions making; cognitive modelling,;sentiments; market efficiency
A Conceptual Model of Investor Behavior
Based on a survey of behavioral finance literature, this paper presents a descriptive model of individual investor behavior in which investment decisions are seen as an iterative process of interactions between the investor and the investment environment. This investment process is influenced by a number of interdependent variables and driven by dual mental systems, the interplay of which contributes to boundedly rational behavior where investors use various heuristics and may exhibit behavioral biases. In the modeling tradition of cognitive science and intelligent systems, the investor is seen as a learning, adapting, and evolving entity that perceives the environment, processes information, acts upon it, and updates his or her internal states. This conceptual model can be used to build stylized representations of (classes of) individual investors, and further studied using the paradigm of agent-based artificial financial markets. By allowing us to implement individual investor behavior, to choose various market mechanisms, and to analyze the obtained asset prices, agent-based models can bridge the gap between the micro level of individual investor behavior and the macro level of aggregate market phenomena. It has been recognized, yet not fully explored, that these models could be used as a tool to generate or test various behavioral hypothesis.behavioral finance;financial decision making;agent-based artificial financial markets;cognitive modeling;investor behavior
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