We develop a belief-based account of decision under uncertainty. This model predicts decisions under uncertainty from (i) judgments of probability, which are assumed to satisfy support theory; and (ii) decisions under risk, which are assumed to satisfy prospect theory. In two experiments,...

The competitive survival of many organizations depends on delivering projects on time and on budget. These firms face decisions concerning how to scale the size of work teams. Larger teams can usually complete tasks more quickly, but the advantages associated with adding workers are often...

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...