Three experiments tested if individuals show violations of transitivity in choices between risky gambles in linked designs. The binary gambles varied in the probability to win the higher (better) prize, the value of the higher prize, and the value of the lower prize. Each design varied two...

Recent research reported evidence that contradicts cumulative prospect theory and the priority heuristic. The same body of research also violates two editing principles of original prospect theory: cancellation (the principle that people delete any attribute that is the same in both alternatives...

Previous tests of cumulative prospect theory (CPT) and of the priority heuristic (PH) found evidence contradicting these two models of risky decision making. However, those tests were criticized because they had characteristics that might ``trigger'' use of other heuristics. This paper presents...

This paper develops tests of independence and stationarity in choice data collected with small samples. The method builds on the approach of Smith and Batchelder (2008). The technique is intended to distinguish cases where a person is systematically changing ``true'' preferences (from one group...

Birnbaum (2011) criticized tests of transitivity that are based entirely on binary choice proportions. When assumptions of independence and stationarity (iid) of choice responses are violated, choice proportions could lead to wrong conclusions. Birnbaum (2012a) proposed two statistics...