Fig. 9:

Comparison of ADO, fixed, and random designs in the simulation of the choice under risk and ambiguity task. The fixed design was pre-determined according to Levy et al. (2010). Simulations were conducted using the linear model with parameter values of α = 0.66, β = 0.67, and γ = 3.5. Three designed are compared with root mean squared errors (RMSE; Panel A) and standard deviations of the posterior distribution (Panel B). Each curve represents an average across 1,000 independent simulation runs.