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New paradoxes of risky decision making
- Psychological Review
"... During the last 25 years, prospect theory and its successor, cumulative prospect theory, replaced expected utility as the dominant descriptive theories of risky decision making. Although these models account for the original Allais paradoxes, 11 new paradoxes show where prospect theories lead to sel ..."
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Cited by 42 (13 self)
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During the last 25 years, prospect theory and its successor, cumulative prospect theory, replaced expected utility as the dominant descriptive theories of risky decision making. Although these models account for the original Allais paradoxes, 11 new paradoxes show where prospect theories lead
Preferences, prices, and ratings in risky decision making
- Journal of Experimental Psychology: Human Perception and Performance
, 1992
"... Systematically different preference orders are obtained when different procedures are used to elicit preferences for gambles. Three new experiments found different preference orders with attractiveness ratings, risk ratings, buying prices, selling prices, avoidance prices, and strength-ofpreference ..."
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Cited by 25 (7 self)
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or amount) depends on the contrast between the 2 gambles along that dimension. Since the time of Bernoulli (1738/1954), normative theories of decision making have asserted that people should select the course of action with the higher expected utility. Although several definitions of utility have been
Gain-loss separability and coalescing in risky decision making
- Management Science
, 2007
"... doi 10.1287/mnsc.1060.0592 ..."
The Use of Multiple Reference Points in Risky Decision Making.
- Journal of Behavioral Decision Making
, 2010
"... ABSTRACT Among psychologists and economists, prospect theory continues to be one of the most popular models of decision making. The theory's key property is reference dependence; specifically, how an individual's perception of loss or gain is dependent upon their starting point (i.e., the ..."
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Cited by 4 (0 self)
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ABSTRACT Among psychologists and economists, prospect theory continues to be one of the most popular models of decision making. The theory's key property is reference dependence; specifically, how an individual's perception of loss or gain is dependent upon their starting point (i
Modeling Time-Pressured Risky Decision-Making
"... This paper describes a model, called Decision-Making under Risk In a Vehicular Environment (DRIVE), that simulates the trade-off between two strategies for achieving a goal in real time: 1) Responding quickly to meet a deadline and 2) delaying responses to better evaluate risks. DRIVE is used to pre ..."
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Cited by 1 (0 self)
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-taking on the intersection-crossing task and external measures of risk taking, including driving history and participation in risky activities. DRIVE model fits indicate that individual differences on this task can be accounted for by varying the decision-making parameters in the model, rather than the perceptual parameters.
1 Risky Decision Making on Catch 21
, 2014
"... *I would like to thank my advisor Dr. Erkut Ozbay as well as Dr. John Straub, Dr. Andrew Sweeting, and Jongho Park for all of their help with my research. I would also like to thank “Game Show Network ” for providing the transcripts to all of the episodes of Catch 21 and to Scott Sternberg Productio ..."
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Productions for their insight into the casting and filming of the game show. 2 I describe whether high stakes risky decisions in the game show Catch 21 are more consistent with expected utility theory or prospect theory. The show permits for an analysis of two distinct decisions: the card placement decision
Actor/observer asymmetry in risky decision making
"... Are people willing to gamble more for themselves than what they deem reasonable for others? We addressed this question in a simplified computer gambling task in which subjects chose from a set of 10 cards. Subjects selected one card at a time after being instructed that 9 cards were good (win a doll ..."
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in relation to theories of decision making that emphasize separate contributions of rational and experiential systems.
Comparison of Risky Decision Making Processes in Dyads and Individuals
, 2010
"... This Thesis is brought to you for free and open access by the Graduate School at Scholar Commons. It has been accepted for inclusion in Graduate ..."
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This Thesis is brought to you for free and open access by the Graduate School at Scholar Commons. It has been accepted for inclusion in Graduate
AN EMPIRICAL ASSESSMENT OF ALTERNATIVE MODELS OF RISKY DECISION MAKING
, 1988
"... provided valuable comments and suggestions that allowed us to sharpen our thinking and improve our work. Ann Witte's work on this project was ..."
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provided valuable comments and suggestions that allowed us to sharpen our thinking and improve our work. Ann Witte's work on this project was
Risky decision making in substance dependent adolescents with a disruptive behavior disorder
- J. Abnorm. Child Psychol
"... # The Author(s) 2010. This article is published with open access at Springerlink.com Abstract Of all psychiatric disorders, the disruptive behavior disorders (DBDs) are the most likely to predispose to substance dependence (SD). One possible underlying mechanism for this increased vulnerability is r ..."
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Cited by 3 (1 self)
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is risky decision making. The aim of this study was to examine decision making in DBD adolescents with and without SD. Twenty-five DBD adolescents (19 males) with SD (DBD+SD), 28 DBD adolescents (23 males) without SD (DBD-SD) and 99 healthy controls (72 males) were included in the study. DBD adolescents
Results 1 - 10
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86,450