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Taking the sting out of choice: Diversification of investments

Avrahami, Judith; Kareev, Yaakov; Hart, Einav - In: Judgment and Decision Making 9 (2014) 5, pp. 373-386

an opportunity to diversify may blunt the risk involved in all-or-none choice. Here we investigate repeated investment … on upcoming decisions. We compare these effects to those evident in all-or-none choice between the same risky options … decision. Importantly, recent outcomes have a similar effect in diversification decisions and in all-or-none choice. …

Persistent link: https://www.econbiz.de/10010929018

Moral investing: Psychological motivations and implications

Rubaltelli, Enrico; Lotto, Lorella; Ritov, Ilana; … - In: Judgment and Decision Making 10 (2015) 1, pp. 64-75

In four experiments we showed that investors are not only interested in maximizing returns but have non-financial goals, too. We considered what drives the decision to invest ethically and the impact this strategy has on people's evaluation of investment performance. In Study 1, participants who...

Persistent link: https://www.econbiz.de/10011145658

Aging and choice: Applications to Medicare Part D

Tanius, Betty E.; Wood, Stacey; Hanoch, Yaniv; Rice, Thomas - In: Judgment and Decision Making 4 (2009) 1, pp. 92-101

We examined choice behavior in younger versus older adults using a medical decision-making task similar to Medicare … Part D. The study was designed to assess age differences in choice processes in general and specifically designed to … examine the effect of choice set size on performance. Data are drawn from a larger study on choice and aging, in which ninety …

Persistent link: https://www.econbiz.de/10005773043

The skill element in decision making under uncertainty: Control or competence?

Goodie, Adam S.; Young, Diana L. - In: Judgment and Decision Making 2 (2007) June, pp. 189-203

Many natural decisions contain an element of skill. Modern conceptions of the skill component include control (Goodie, 2003) and competence (Heath \& Tversky, 1991). The control hypothesis states that a task's skill component (the sensitivity of the task to skill) affects decision making; the...

Persistent link: https://www.econbiz.de/10005773065

Tests of Cumulative Prospect Theory with graphical displays of probability

Birnbaum, Michael H.; Johnson, Kathleen; Longbottom, Jay-Lee - In: Judgment and Decision Making 3 (2008) 7, pp. 528-546

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...

Persistent link: https://www.econbiz.de/10005612483

New tests of cumulative prospect theory and the priority heuristic: Probability-outcome tradeoff with branch splitting

Birnbaum, Michael H. - In: Judgment and Decision Making 3 (2008) April, pp. 304-316

gambles are nearly equal in each choice. In addition, if a person followed expected value (EV), expected utility (EU), CPT, or …

Persistent link: https://www.econbiz.de/10005828368

When less is more in the recognition heuristic

Smithson, Michael - In: Judgment and Decision Making 5 (2010) 4, pp. 230-243

probability that a correct choice is made on the basis of recognition alone and beta the probability that a correct choice is made …

Persistent link: https://www.econbiz.de/10008548765

Ability, chance, and ambiguity aversion: Revisiting the competence hypothesis

Klein, William M. P.; Cerully, Jennifer L.; Monin, … - In: Judgment and Decision Making 5 (2010) 3, pp. 192-199

ability. In Experiments 2 and 3, which used different operationalizations of ambiguity in choice contexts with actual …

Persistent link: https://www.econbiz.de/10008550531

Choosing with confidence: Self-efficacy and preferences for choice

Reed, Andrew E.; Mikels, Joseph A.; Lockenhoff, Corinna E. - In: Judgment and Decision Making 7 (2012) 2, pp. 173-180

Previous research on the role of choice set size in decision making has focused on decision outcomes and satisfaction …. In contrast, little is known about interindividual differences in preferences for larger versus smaller choice sets, let …-efficacy in preferences for choice. Using a correlational approach, Study 1 (n = 89) found that decision-making self-efficacy was …

Persistent link: https://www.econbiz.de/10010539626

Dishonestly increasing the likelihood of winning

Shalvi, Shaul - In: Judgment and Decision Making 7 (2012) 3, pp. 292-303

(rather than merely on their choice), (2) this preference is amplified when the likelihood to turn negative into positive is …

Persistent link: https://www.econbiz.de/10010550646