Open Science Framework
The DARC Toolbox: automated, flexible, and efficient delayed and risky choice experiments using Bayesian adaptive design
January 2017 • Benjamin T. Vincent, Tom Rainforth
Delayed and risky choice (DARC) experiments are a cornerstone of research in psychology, behavioural economics and neuroeconomics. By collecting an agent's preferences between pairs of prospects we can characterise their preferences, investigate what affects them, and probe the underlying decision making mechanisms. We present a state-of-the-art approach and software toolbox allowing such DARC experiments to be run in a highly efficient way. Data collection is costly, so our toolbox automatically and adaptively ge…