Abstract：Probability matching is one of the most important anomalieswhichviolates the utility maximizationprinciple in the normative decision theory.It has beenreplicated by numerous studies. In the traditional Heuristic-and-Biases approach, probabilistic and logical principles are golden standard for rational decision making. However, the individual differences, and the impact of environmental variables on behaviors are largely neglected. This article systematically discusses several strategies that can lead to the same explicit probability matching behavior from a two-dimension framework of behavioral analysis. In this framework, cognitive processes and environment variables aretwo independent components. Theempirical evidences from both human and animal studies are summarized. Some application domains of probability matching, such as economics, financial and law, are discussed.
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