IDEAS home Printed from https://ideas.repec.org/p/ads/wpaper/0065.html
   My bibliography  Save this paper

Metacognitive Control and Optimal Learning

Author

Listed:
  • Lisa K. Son

    (Barnard College)

  • Rajiv Sethi

    (Department of Economics, Barnard College)

Abstract

The notion of optimality is often invoked informally in the literature on metacognitive control. We provide a precise formulation of the optimization problem and show that optimal time allocation strategies depend critically on certain characteristics of the learning environment, such as the extent of time pressure, and the nature of the uptake function. When the learning curve is concave, optimality requires that items at lower levels of initial competence be allocated greater time. On the other hand, with logistic learning curves, optimal allocations vary with time availability in complex and surprising ways. Hence there are conditions under which optimal strategies will be intuitive and easy to learn, and others in which they will be considerably more complicated. The model can therefore be used to address the question of whether and when learners should be able to exercise good metacognitive control in practice.

Suggested Citation

  • Lisa K. Son & Rajiv Sethi, 2006. "Metacognitive Control and Optimal Learning," Economics Working Papers 0065, Institute for Advanced Study, School of Social Science.
  • Handle: RePEc:ads:wpaper:0065
    as

    Download full text from publisher

    File URL: http://www.sss.ias.edu/publications/papers/econpaper65.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Simon, Herbert A, 1978. "Rationality as Process and as Product of Thought," American Economic Review, American Economic Association, vol. 68(2), pages 1-16, May.
    2. Conlisk, John, 1988. "Optimization cost," Journal of Economic Behavior & Organization, Elsevier, vol. 9(3), pages 213-228, April.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Alexandr Ten & Pramod Kaushik & Pierre-Yves Oudeyer & Jacqueline Gottlieb, 2021. "Humans monitor learning progress in curiosity-driven exploration," Nature Communications, Nature, vol. 12(1), pages 1-10, December.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Pingle, Mark, 1997. "Submitting to authority: Its effect on decision-making," Journal of Economic Psychology, Elsevier, vol. 18(1), pages 45-68, February.
    2. Pingle, Mark, 1995. "Imitation versus rationality: An experimental perspective on decision making," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 24(2), pages 281-315.
    3. Hayakawa, Hiroaki, 2000. "Bounded rationality, social and cultural norms, and interdependence via reference groups," Journal of Economic Behavior & Organization, Elsevier, vol. 43(1), pages 1-34, September.
    4. Pingle, Mark, 2000. "The effect of decision costs on the formation of market-making intermediaries: a pilot experiment," Journal of Economic Behavior & Organization, Elsevier, vol. 41(1), pages 3-26, January.
    5. Pingle, Mark & Day, Richard H., 1996. "Modes of economizing behavior: Experimental evidence," Journal of Economic Behavior & Organization, Elsevier, vol. 29(2), pages 191-209, March.
    6. repec:ebl:ecbull:v:4:y:2006:i:33:p:1-7 is not listed on IDEAS
    7. Marc Le Menestrel, 2003. "A one-shot Prisoners’ Dilemma with procedural utility," Economics Working Papers 819, Department of Economics and Business, Universitat Pompeu Fabra.
    8. Schilling, Melissa A. & Green, Elad, 2011. "Recombinant search and breakthrough idea generation: An analysis of high impact papers in the social sciences," Research Policy, Elsevier, vol. 40(10), pages 1321-1331.
    9. Driss Ezzine-de-Blas & Céline Dutilly & José-Alberto Lara-Pulido & Gwenolé Le Velly & Alejando Guevara-Sanginés, 2016. "Payments for Environmental Services in a Policymix: Spatial and Temporal Articulation in Mexico," PLOS ONE, Public Library of Science, vol. 11(4), pages 1-15, April.
    10. Schnellenbach, Jan & Schubert, Christian, 2015. "Behavioral political economy: A survey," European Journal of Political Economy, Elsevier, vol. 40(PB), pages 395-417.
    11. Yang, Bijou & Lester, David, 1995. "New directions for economics," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 24(3), pages 433-446.
    12. Stea, Diego & Foss, Nicolai J. & Christensen, Peter Holdt, 2015. "Physical separation in the workplace: Separation cues, separation awareness, and employee motivation," European Management Journal, Elsevier, vol. 33(6), pages 462-471.
    13. Shastitko, Andrey & Golovanova, Svetlana, 2016. "Meeting blindly… Is Austrian economics useful for dynamic capabilities theory?," Russian Journal of Economics, Elsevier, vol. 2(1), pages 86-110.
    14. Robin Gregory & Howard Kunreuther & Doug Easterling & Ken Richards, 1991. "Incentives Policies to Site Hazardous Waste Facilities," Risk Analysis, John Wiley & Sons, vol. 11(4), pages 667-675, December.
    15. Cordes, Christian & Richerson, Peter J. & McElreath, Richard & Strimling, Pontus, 2008. "A naturalistic approach to the theory of the firm: The role of cooperation and cultural evolution," Journal of Economic Behavior & Organization, Elsevier, vol. 68(1), pages 125-139, October.
    16. Crockett, Sean & Spear, Stephen & Sunder, Shyam, 2008. "Learning competitive equilibrium," Journal of Mathematical Economics, Elsevier, vol. 44(7-8), pages 651-671, July.
    17. Ricardo Crespo, 2021. "Teaching the philosophical grounding of economics to economists: a 10 years' experience," The Journal of Philosophical Economics, Bucharest Academy of Economic Studies, The Journal of Philosophical Economics, vol. 14(1-2), pages 218-226, November.
    18. David Stadelmann & Benno Torgler, 2012. "Bounded Rationality and Voting Decisions Exploring a 160-Year Period," Working Papers 2012.70, Fondazione Eni Enrico Mattei.
    19. Shaun P. Hargreaves Heap, 2013. "Rationality," Chapters, in: Luigino Bruni & Stefano Zamagni (ed.), Handbook on the Economics of Reciprocity and Social Enterprise, chapter 28, pages 277-284, Edward Elgar Publishing.
    20. Sophie Bejean, 1997. "The foundations of the new theories in health economics [Les fondements des nouvelles théories en économie de la santé]," Working Papers hal-01526956, HAL.
    21. Mongin, P., 1998. "Does Optimization Imply Rationality?," Papers 9817, Paris X - Nanterre, U.F.R. de Sc. Ec. Gest. Maths Infor..

    More about this item

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ads:wpaper:0065. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Nancy Cotterman (email available below). General contact details of provider: https://edirc.repec.org/data/ssiasus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.