Exploration-exploitation trade-off in a treasure hunting game

Dimitri Volchenkov; Jonathan Helbach; Marko Tscherepanow; Sina Küheel

Exploration-exploitation trade-off in a treasure hunting game

Dimitri Volchenkov, Jonathan Helbach, Marko Tscherepanow, Sina Küheel

Mathematics and Statistics

Research output: Contribution to conference › Paper › peer-review

Abstract

Searching experiments conducted in different virtual environments over a gender balanced group of people revealed a gender irrelevant scale-free spread of searching activity on large spatiotemporal scales. We have suggested and solved analytically a simple statistical model of the coherent-noise type describing the exploration-exploitation trade-off in humans ("should I stay or should I go"). The model exhibits a variety of saltatory behaviours, ranging from Levy flights occurring under uncertainty to Brownian walks performed by a treasure hunter confident of the eventual success. © 2013 Elsevier B.V.

Original language	English
State	Published - Jan 1 2013

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abstract = "Searching experiments conducted in different virtual environments over a gender balanced group of people revealed a gender irrelevant scale-free spread of searching activity on large spatiotemporal scales. We have suggested and solved analytically a simple statistical model of the coherent-noise type describing the exploration-exploitation trade-off in humans ({"}should I stay or should I go{"}). The model exhibits a variety of saltatory behaviours, ranging from Levy flights occurring under uncertainty to Brownian walks performed by a treasure hunter confident of the eventual success. {\textcopyright} 2013 Elsevier B.V.",

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AU - Helbach, Jonathan

AU - Tscherepanow, Marko

AU - Küheel, Sina

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N2 - Searching experiments conducted in different virtual environments over a gender balanced group of people revealed a gender irrelevant scale-free spread of searching activity on large spatiotemporal scales. We have suggested and solved analytically a simple statistical model of the coherent-noise type describing the exploration-exploitation trade-off in humans ("should I stay or should I go"). The model exhibits a variety of saltatory behaviours, ranging from Levy flights occurring under uncertainty to Brownian walks performed by a treasure hunter confident of the eventual success. © 2013 Elsevier B.V.

AB - Searching experiments conducted in different virtual environments over a gender balanced group of people revealed a gender irrelevant scale-free spread of searching activity on large spatiotemporal scales. We have suggested and solved analytically a simple statistical model of the coherent-noise type describing the exploration-exploitation trade-off in humans ("should I stay or should I go"). The model exhibits a variety of saltatory behaviours, ranging from Levy flights occurring under uncertainty to Brownian walks performed by a treasure hunter confident of the eventual success. © 2013 Elsevier B.V.

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