Violations of branch independence in choices between gambles

Article Abstract:

Experiment results disprove the validity of the branch independence axiom which asserts that common outcomes have no effect when comparing gambles. However, it is consistent with rank-dependent utility theory which assumes that the lowest outcome is assigned the greatest weight, followed by the middle outcome and that the highest outcome is given the least weight. These findings negate descriptive theories which represent the value of a gamble as the sum of weighted functions of probability and outcomes.

Analysis, Distribution (Probability theory), Weight judgment

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Robustness of expected utility model in predicting individual choices

Article Abstract:

The predictive accuracy for individual use of the lottery dependent utility model (LDEU) and weighted utility model (WU) was investigated. Results indicate that LDEU and WU can be calibrated for individual estimation with the use of a questionnaire. There were indications that LDEU and WU models performed just as well as expected utility (EU) models and that the former two were more flexible in segmenting subjects.

Psychological aspects, Models, Consumer preferences, Utility theory, Utility functions

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Situational and individual determinants of feedback seeking: a closer look at the process

Article Abstract:

A model is developed to determine the impact of situational and individual factors in the feedback seeking process. Results show that feedback seeking frequency is dependent on the feedback seeking context. Subjects were more likely to seek feedback when requests for such can be made privately. Individuals with high public self-consciousness and social anxiety were also found to require more feedback.

Research, Self-perception, Feedback (Psychology), Self perception, Feedback (Communication)

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