In this paper we investigate the claim that decisions from \textit{experience} (in which the features of lotteries are learned through a sampling process) differ from decisions from \textit{description} (in which features of lotteries are explicitly described). We find that the...

According to prospect theory, people overweight low probability events and underweight high probability events. Several recent papers (notably, Hertwig, Barron, Weber \& Erev, 2004) have argued that although this pattern holds for ``description-based'' decisions, in which people are explicitly...

This paper extends previous research showing that experienced difficulty of recall can influence evaluative judgments (e.g., Winkielman \& Schwarz, 2001) to a field study of university students rating a course. Students completed a mid-course evaluation form in which they were asked to list...