This paper examines the effects of different cultural backgrounds on decisions from experience. In Experiment 1, participants from Denmark, Israel, and Taiwan faced each of six binary choice problems for 200 trials. The participants did not receive prior description of the payoff distributions,...

Whether questions and answers are transmitted between interviewer and respondent by visual or aural communication can affect the responses given. We hypothesise that communication channel can affect either the respondent's understanding of the question or the tendency to satisfice. These effects...

Whether questions and answers are transmitted between interviewer and respondent by visual or aural communication can affect the responses given. We hypothesise that communication channel can affect either the respondent's understanding of the question or the tendency to satisfice. These effects...

We report an experiment in which subjects are not indifferent between real-money lotteries implemented with randomization devices that are equivalent under the Reduction Axiom. Instead choice behavior is consistent with subjective distortion of conditional probability, and this persists in...

We report an experiment in which subjects are not indifferent between real-money lotteries implemented with randomization devices that are equivalent under the Reduction Axiom. Instead choice behavior is consistent with subjective distortion of conditional probability, and this persists in...

A large experimental and empirical literature on asymmetric dominance and attraction effects shows that the probability that an alternative is chosen can increase if additional alternatives become available. Hence context matters and choices and, therefore, market shares can not be accurately...