risky choice
Of black swans and tossed coins : is the description experience gap in risky choice limited to rare events?
... people’s risky choices in described and experienced ...of risky choice in behavioral economics, which are mostly based on described choices ...
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Information integration in risky choice : identification and stability
... of risky preferences across time or ...of risky choice to data from two or more times or contexts and then compare parameters across times or contexts (see Zeisberger et ...in risky ...
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Living near the edge : how extreme outcome and their neighbours drive risky choice
... experience-based risky choice, where outcome values at the extremes of the experienced distribution are both better remembered and more heavily weighted in choice ...
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Reward context determines risky choice in pigeons and humans
... Pigeons and humans showed remarkably similar patterns of risky choice, with both species showing risk aversion for low-value rewards and a tendency towards risk seeking for high-value rewards. This ...
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An Explanation of Each Way Wagers in Three Models Of Risky Choice
... the wager will pay out. If the selection places (or shows) you lose the stake on win part of the wager but receive a pay-out on the place or show part of the wager. When the amounts staked with bookmakers at fixed odds ...
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Eye movements in risky choice
... of risky decision ...of risky choice behaviour, and this has led to modi fi cations of expected utility to accom- modate systematic departures from normative ...a risky option is a product of ...
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Living near the edge: how extreme outcomes and their neighbours drive risky choice
... font, or even create a unique or bizarre image (Hunt & Worthen, 2006). In previous studies of extreme outcomes in risky choice, the extreme outcomes have typically had two properties that could mark ...
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Beyond lucky: measuring and modelling the impact of ‘probability control’ on risky choice
... with risky choices, decision makers can often exert some control on the risks they experience, either by modifying the probabilities or the ...the choice patterns are found to be consistent with the ...
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Exaggerated Risk: Prospect Theory and Probability Weighting in Risky Choice
... whether risky choices for the same events would vary systematically across respondents who had different perceptions of the frequency of those ...participants’ risky preferences when we compare the ...
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Comparative inspiration : from puzzles with pigeons to novel discoveries with humans in risky choice
... Outcome values for the risky gain and high-value options are shown in green and upward triangles, with the corresponding safe option shown as black circles; risky losses and low-value op[r] ...
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Noisy preferences in risky choice : a cautionary note
... stochastic choice process (Bhatia, 2013, 2014; Bogacz, Usher, Zhang, & McClelland, 2007; Busemeyer & Townsend, 1993; Diederich, 1997; Krajbich, Armel, & Rangel, 2010; Rangel & Hare, 2010; Roe, ...
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Decision by sampling: the role of the decision environment in risky choice
... Prospect theory provides a good description of the risky decisions that people make. The shapes of the probability- weighting function and the value function are chosen to pro- vide this good description. In ...
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Now for sure or later with a risk? Modeling risky inter-temporal choice as accumulated preference
... on choice for inter–temporal and risky options, respectively, as compared to ...and risky choices, amount appears to matter more in an inter–temporal ...a risky choice setting (see ...
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Are small groups expected utility?
... of risky choices. In fact, the field of risky choice has extensively investigated individual decision processes under risk and uncertainty, expending much effort to scrutinize EUT and proposing many ...
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Risk, responsibility, and choice : why should some choices justify disadvantage while others don't?
... successfully, choice-based responsibilitarians are required not only to say when agents should be held substantively responsible for disadvantage arising from their risky choices, but also to explain why ...
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Rapid makes risky : time pressure increases risk seeking in decisions from experience
... increase risky choice in the balloon analog risk task (BART; Chandler & Pronin, ...increases risky choice, the experimental designs of the IGT and BART do not allow us to fully disentangle ...
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Proposition structure in framed decision problems: A formal representation.
... as risky choice framing in the most decision arenas. Health choice is perhaps an exception where the impact of health improvement messages is ...While risky choice framing has ...
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The power of nothing : risk preference in pigeons, but not people, is driven primarily by avoidance of zero outcomes
... One possible reason that pigeons might be particularly driven by an avoidance of zero is suggested by the probability and delay discounting literature (e.g., Green, Myerson, & Calvert, 2010; Hayden, 2015; Hayden ...
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How to Change the Weight of Rare Events in Decisions from Experience
... description-experience gap (see Wulff, Mergenthaler-Canseco, & Hertwig, 2018 for a recent review). Decisions from description typically result in choices that imply overweighting of rare events (Kahneman & ...
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Optimal Asset Allocation of a Pension Fund: Does The Fear of Regret Matter?
... investment choice, i.e. investing a positive amount in the risky- asset ...investment choice, i.e. the investment choice that could have been made, which would involve taking no position in ...
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