Do People Make Decisions Under Risk Based on Ignorance? An Empirical Test of the Priority Heuristic against Cumulative Prospect Theory
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References listed on IDEAS
- Lohse, Gerald L. & Johnson, Eric J., 1996. "A Comparison of Two Process Tracing Methods for Choice Tasks," Organizational Behavior and Human Decision Processes, Elsevier, vol. 68(1), pages 28-43, October.
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- Pieterse, Arwen H. & de Vries, Marieke & Kunneman, Marleen & Stiggelbout, Anne M. & Feldman-Stewart, Deb, 2013. "Theory-informed design of values clarification methods: A cognitive psychological perspective on patient health-related decision making," Social Science & Medicine, Elsevier, pages 156-163.
- Venkatraman, Vinod & Payne, John W. & Huettel, Scott A., 2014. "An overall probability of winning heuristic for complex risky decisions: Choice and eye fixation evidence," Organizational Behavior and Human Decision Processes, Elsevier, vol. 125(2), pages 73-87.
More about this item
KeywordsDecision Strategy; Fast and Frugal Heuristics; Bounded Rationality; Decision Latency; Process Tracing; Cumulative Prospect Theory;
NEP fieldsThis paper has been announced in the following NEP Reports:
- NEP-ALL-2008-03-15 (All new papers)
- NEP-CBA-2008-03-15 (Central Banking)
- NEP-CBE-2008-03-15 (Cognitive & Behavioural Economics)
- NEP-UPT-2008-03-15 (Utility Models & Prospect Theory)
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