Subjective rating reflects learned utility
We also asked participants to indicate the reward distribution of each stimulus on a Visual Analogue Scale at the end of each block. We used these measures to examine whether people distinguished the stimuli based on the true mean and variance, or a scaled version of the objective values. We found that the subjectively rated mean and spread of each reward distribution (Figure Subjective rating reflects learned utility. At the end of each block, participants indicated the mean (a) and spread (b) of the distribution associated with each stimulus. (c) The computed utility for each of the stimuli (Equation Participants were able to reliably distinguish stimuli based on their mean (main effect of mean [All participants understood that matched mean stimuli differed in the level of spread (main effect of spread [Given that we observed biases for the preferred (i.e., most chosen) stimulus in the subjective ratings, we examined whether this was reflected by the learned utility. The utility of each of the stimuli (Equation 