A new test of the risk-reward heuristic
Risk and reward are negatively correlated in a wide variety of environments, and in many cases this trade off approximates a fair bet. Pleskac and Hertwig (2014) recently proposed that people have internalized this relationship and use it as the basis for probability estimation and subsequent choice...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Society for Judgment and Decision Making
2018-01-01
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| Series: | Judgment and Decision Making |
| Subjects: | |
| Online Access: | http://journal.sjdm.org/17/171013b/jdm171013b.pdf |