by Steven T. Piantadosi and B. Hayden
Reference:
Utility-free models of binomial choice can replicate predictions of utility models in many conditions (Steven T. Piantadosi and B. Hayden), In Frontiers in Neuroscience, 2015.
Bibtex Entry:
@article{piantadosi2014utility,
title={Utility-free models of binomial choice can replicate predictions of utility models in many conditions},
author={Steven T. Piantadosi and B. Hayden},
journal={Frontiers in Neuroscience},
year={2015},
url={http://journal.frontiersin.org/article/10.3389/fnins.2015.00105/full},
tags={modeling, neuroscience},
eli5={You can make decisions which are equivalent to expected value decisions without ever computing expected value.}
}