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Modeling choice and valuation in decision experiments

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Loomes, Graham (2010) Modeling choice and valuation in decision experiments. Psychological Review, 117 (3). pp. 902-924. doi:10.1037/a0019807

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Official URL: http://dx.doi.org/10.1037/a0019807

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Abstract

This article develops a parsimonious descriptive model of individual choice and valuation in the kinds of experiments that constitute a substantial part of the literature relating to decision making under risk and uncertainty. It suggests that many of the best known "regularities" observed in those experiments may arise from a tendency for participants to perceive probabilities and payoffs in a particular way. This model organizes more of the data than any other extant model and generates a number of novel testable implications which are examined with new data.

Item Type: Journal Article
Subjects: B Philosophy. Psychology. Religion > BF Psychology
Divisions: Faculty of Social Sciences > Warwick Business School
Journal or Publication Title: Psychological Review
Publisher: American Psychological Association
ISSN: 0033-295X
Official Date: July 2010
Dates:
DateEvent
July 2010Published
Volume: 117
Number: 3
Number of Pages: 23
Page Range: pp. 902-924
DOI: 10.1037/a0019807
Status: Peer Reviewed
Publication Status: Published
Access rights to Published version: Restricted or Subscription Access

Data sourced from Thomson Reuters' Web of Knowledge

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