We conducted two experiments comparing younger and older adults' ability to adjust their foraging behavior as a function of task characteristics. Participants foraged for fish in a virtual landscape and had to decide when to move between ponds so as to maximize the number of fish caught. In the...

Uncertainty pervades most aspects of life. From selecting a new technology to choosing a career, decision makers rarely know in advance the exact outcomes of their decisions. Whereas the consequences of decisions in standard decision theory are explicitly described (the decision from description...

Whether behavior converges toward rational play or fair play in repeated ultimatum games, depends on which player yields first. If responders conceded first by accepting low offers, proposers, would not need to learn to offer more. Play would thus converge toward unequal sharing. If proposers,...