Newman, George E.; Mochon, Daniel - In: Judgment and Decision Making 7 (2012) 1, pp. 19-24
Recent studies have identified the uncertainty effect (UE), whereby risky prospects (e.g., a binary lottery that offers either a $50 or $100 gift certificate) are valued less than their worst possible outcome (a $50 certificate). This effect has been proposed to result from ``direct...