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Common and distinct factors in decision making under ambiguity and risk: A psychometric study of individual differences

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  • Lauriola, Marco
  • Levin, Irwin P.
  • Hart, Stephanie S.

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  • Lauriola, Marco & Levin, Irwin P. & Hart, Stephanie S., 2007. "Common and distinct factors in decision making under ambiguity and risk: A psychometric study of individual differences," Organizational Behavior and Human Decision Processes, Elsevier, vol. 104(2), pages 130-149, November.
    • Handle: RePEc:eee:jobhdp:v:104:y:2007:i:2:p:130-149
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    1. Cohen, Michele & Jaffray, Jean-Yves & Said, Tanios, 1987. "Experimental comparison of individual behavior under risk and under uncertainty for gains and for losses," Organizational Behavior and Human Decision Processes, Elsevier, vol. 39(1), pages 1-22, February.
    2. Loomes, Graham & Sugden, Robert, 1982. "Regret Theory: An Alternative Theory of Rational Choice under Uncertainty," Economic Journal, Royal Economic Society, vol. 92(368), pages 805-824, December.
    3. Warneryd, Karl-Erik, 1996. "Risk attitudes and risky behavior," Journal of Economic Psychology, Elsevier, vol. 17(6), pages 749-770, December.
    4. Roger Sherman, 1974. "The Psychological Difference Between Ambiguity and Risk," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 88(1), pages 166-169.
    5. Kuhn, Kristine M., 1997. "Communicating Uncertainty: Framing Effects on Responses to Vague Probabilities," Organizational Behavior and Human Decision Processes, Elsevier, vol. 71(1), pages 55-83, July.
    6. Daniel Kahneman & Amos Tversky, 2013. "Prospect Theory: An Analysis of Decision Under Risk," World Scientific Book Chapters, in: Leonard C MacLean & William T Ziemba (ed.), HANDBOOK OF THE FUNDAMENTALS OF FINANCIAL DECISION MAKING Part I, chapter 6, pages 99-127, World Scientific Publishing Co. Pte. Ltd..
    7. Curley, Shawn P. & Yates, J. Frank & Abrams, Richard A., 1986. "Psychological sources of ambiguity avoidance," Organizational Behavior and Human Decision Processes, Elsevier, vol. 38(2), pages 230-256, October.
    8. Daniel Ellsberg, 1961. "Risk, Ambiguity, and the Savage Axioms," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 75(4), pages 643-669.
    9. Kuhberger, Anton & Schulte-Mecklenbeck, Michael & Perner, Josef, 1999. "The Effects of Framing, Reflection, Probability, and Payoff on Risk Preference in Choice Tasks, ," Organizational Behavior and Human Decision Processes, Elsevier, vol. 78(3), pages 204-231, June.
    10. Levin, Irwin P. & Gaeth, Gary J. & Schreiber, Judy & Lauriola, Marco, 2002. "A New Look at Framing Effects: Distribution of Effect Sizes, Individual Differences, and Independence of Types of Effects," Organizational Behavior and Human Decision Processes, Elsevier, vol. 88(1), pages 411-429, May.
    11. Levin, Irwin P. & Johnson, Richard D. & Deldin, Patricia J. & Carstens, Laura M. & Cressey, LuAnne J. & Davis, Charles R., 1986. "Framing effects in decisions with completely and incompletely described alternatives," Organizational Behavior and Human Decision Processes, Elsevier, vol. 38(1), pages 48-64, August.
    12. Einhorn, Hillel J & Hogarth, Robin M, 1986. "Decision Making under Ambiguity," The Journal of Business, University of Chicago Press, vol. 59(4), pages 225-250, October.
    13. Budescu, David V. & Kuhn, Kristine M. & Kramer, Karen M. & Johnson, Timothy R., 2002. "Modeling certainty equivalents for imprecise gambles," Organizational Behavior and Human Decision Processes, Elsevier, vol. 88(2), pages 748-768, July.
    14. Ning Du & David V. Budescu, 2005. "The Effects of Imprecise Probabilities and Outcomes in Evaluating Investment Options," Management Science, INFORMS, vol. 51(12), pages 1791-1803, December.
    15. Sophia Rabe-Hesketh & Anders Skrondal & Andrew Pickles, 2004. "Generalized multilevel structural equation modeling," Psychometrika, Springer;The Psychometric Society, vol. 69(2), pages 167-190, June.
    16. Mohammed Abdellaoui, 2000. "Parameter-Free Elicitation of Utility and Probability Weighting Functions," Management Science, INFORMS, vol. 46(11), pages 1497-1512, November.
    17. Kahn, Barbara E & Sarin, Rakesh K, 1988. "Modeling Ambiguity in Decisions under Uncertainty," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 15(2), pages 265-272, September.
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    Cited by:

    1. David Kelsey & Sara Roux, 2015. "An experimental study on the effect of ambiguity in a coordination game," Theory and Decision, Springer, vol. 79(4), pages 667-688, December.
    2. Stefan Zeisberger & Dennis Vrecko & Thomas Langer, 2012. "Measuring the time stability of Prospect Theory preferences," Theory and Decision, Springer, vol. 72(3), pages 359-386, March.
    3. Ellen Peters & Irwin P. Levin, 2008. "Dissecting the risky-choice framing effect: Numeracy as an individual-difference factor in weighting risky and riskless options," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 3(6), pages 435-448, August.
    4. Ken Binmore & Lisa Stewart & Alex Voorhoeve, 2012. "How much ambiguity aversion?," Journal of Risk and Uncertainty, Springer, vol. 45(3), pages 215-238, December.
    5. Birgit Löhndorf & Anna-Lena Sachs & Rudolf Vetschera, 2014. "Stability of probability effects in utility elicitation," Central European Journal of Operations Research, Springer;Slovak Society for Operations Research;Hungarian Operational Research Society;Czech Society for Operations Research;Österr. Gesellschaft für Operations Research (ÖGOR);Slovenian Society Informatika - Section for Operational Research;Croatian Operational Research Society, vol. 22(4), pages 755-777, December.
    6. Weinstock, Eyal & Sonsino, Doron, 2014. "Are risk-seekers more optimistic? Non-parametric approach," Journal of Economic Behavior & Organization, Elsevier, vol. 108(C), pages 236-251.
    7. repec:cup:judgdm:v:3:y:2008:i:6:p:435-448 is not listed on IDEAS
    8. Fan, Wen & Zhang, Lifang, 2020. "Examining framing effect when subject's perspective matters: Evidence from China," Finance Research Letters, Elsevier, vol. 35(C).
    9. Bertrand Koebel & André Schmitt & Sandrine Spaeter, 2016. "DO SELF-THEORIES ON INTELLIGENCE EXPLAIN OVERCONFIDENCE AND RISK TAKING? A Field Experiment," Working Papers of BETA 2016-11, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
    10. Wenting Zhou & John Hey, 2018. "Context matters," Experimental Economics, Springer;Economic Science Association, vol. 21(4), pages 723-756, December.
    11. Martin G. Kocher & Stefan T. Trautmann, 2013. "Selection Into Auctions For Risky And Ambiguous Prospects," Economic Inquiry, Western Economic Association International, vol. 51(1), pages 882-895, January.
    12. Laura Colautti & Alice Cancer & Sara Magenes & Alessandro Antonietti & Paola Iannello, 2022. "Risk-Perception Change Associated with COVID-19 Vaccine’s Side Effects: The Role of Individual Differences," IJERPH, MDPI, vol. 19(3), pages 1-14, January.

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