Exploration-exploitation Trade-off in a Treasure Hunting Game

Authors:
Dimitri Volchenkov;Jonathan Helbach;Marko Tscherepanow;Sina Küheel
Affiliations:
Faculty of Physics, Bielefeld University, Universitaetsstr. 25, 33615 Bielefeld, Germany;Technical Faculty, Bielefeld University, Universitaetsstr. 25, 33615 Bielefeld, Germany;Technical Faculty, Bielefeld University, Universitaetsstr. 25, 33615 Bielefeld, Germany;Physiological Psychology, Bielefeld University, Post office box 100131, 33501 Bielefeld, Germany
Venue:
Electronic Notes in Theoretical Computer Science (ENTCS)
Year:
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.