document: A re-examination of probability matching and rational choice In a typical probability learning task participants are presented with a repeated choice between two response alternatives , one of which has a higher payoff probability than the other . Rational choice theory requires that participants should eventually allocate all their responses to the high-payoff alternative , but previous research has found that people fail to maximize their payoffs . Instead , it is commonly observed that people match their response probabilities to the payoff probabilities . We report three experiments on this choice anomaly using a simple probability learning task in which participants were provided with -LRB- i -RRB- large financial incentives , -LRB- ii -RRB- meaningful and regular feedback , and -LRB- iii -RRB- extensive training . In each experiment large proportions of participants adopted the optimal response strategy and all three of the factors mentioned above contributed to this . The results are supportive of rational choice theory
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extractive_keyphrases: probability learning task rational choice theory probability matching payoff probability response probabilities choice anomaly large financial incentives extensive training optimal response strategy feedback
abstractive_keyphrases: meaningful regular feedback rationality