West, B.J.; Grigolini, P. - In: Physica A: Statistical Mechanics and its Applications 389 (2010) 17, pp. 3580-3587
Herein we develop a psychophysical model of decision making based on the difference between objective clock time and the human brain’s perception of time. In this model the utility function is given by the survival probability, which is shown to be a generalized hyperbolic distribution. The...