From anomalies to forecasts: Toward a descriptive model of decisions under risk, under ambiguity, and from experience

Experimental studies of choice behavior document distinct, and sometimes contradictory, deviations from maximization. For example, people tend to overweight rare events in 1-shot decisions under risk, and to exhibit the opposite bias when they rely on past experience. The common explanations of thes...

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Bibliographic Details

Published in:	Psychological review Vol. 124; no. 4; p. 369
Main Authors:	Erev, Ido, Ert, Eyal, Plonsky, Ori, Cohen, Doron, Cohen, Oded
Format:	Journal Article
Language:	English
Published:	United States 01.07.2017
Subjects:	Choice Behavior Decision Making Emotions Forecasting Humans Models, Psychological Probability Risk Risk-Taking
ISSN:	1939-1471, 1939-1471
Online Access:	Get more information
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