A change-of-process theory for contextual effects and preference reversals in risky decision making
Article Abstract:
The effect of context and response mode on risky decision making is examined through the application of three psychological theories of preference reversals. The expression and contingent weighing theory were found to be inconsistent with the three experiments conducted but the change-of-process theory was consistent with the findings. Results show that the process by which subjects combine data depends on the task, context and individual difference factors. Multiple approaches used may lead to inconsistencies but probabilities appear stable across tasks.
Publication Name: Organizational Behavior & Human Decision Processes
Subject: Psychology and mental health
ISSN: 0749-5978
Year: 1992
User Contributions:
Comment about this article or add new information about this topic:
Test of theories of decision making: violations of branch independence and distribution independence
Article Abstract:
A study of the systematic violations in branch independence and distribution independence of the behavioral properties of choice shows that such violations do not conform to the Expected Utility, Subjective Expected Utility and Subjective Weighted Utility theories, as well as the model developed by Birnbaum and McIntosh. The violations are more consistent in following the cumulative prospect theory, especially when fitted using the S-shaped cumulative weighting function.
Publication Name: Organizational Behavior & Human Decision Processes
Subject: Psychology and mental health
ISSN: 0749-5978
Year: 1997
User Contributions:
Comment about this article or add new information about this topic:
Tests of rank-dependent utility and cumulative prospect theory in gambles represented by natural frequencies: Effect of format event framing, and branch splitting
Article Abstract:
The contradictions of cumulative prospect theories of risky decision-making are studied. The effects of probability format, branch splitting and event framing are also studied.
Publication Name: Organizational Behavior & Human Decision Processes
Subject: Psychology and mental health
ISSN: 0749-5978
Year: 2004
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Not just a pretty face: physical attractiveness and perfectionism in the risk for eating disorders. Looking good-family focus on appearance and the risk for eating disorders
- Abstracts: Memory-search and rehearsal processes and the word length effect in immediate recall: a synthesis in reply to Service
- Abstracts: The suppression of q card selections: evidence for deductive inference in Wason's selection task. Necessity, possibility and belief: a study of syllogistic reasoning
- Abstracts: Predicting sex offender institutional adjustment and treatment compliance using the Personality Assessment Inventory
- Abstracts: Is consciousness integrated? Time and the observer: the where and when of consciousness in the brain. Escape from the Cartesian Theater