This study tests the adequacy of the axioms underlying Luce and Weber's (1986) conjoint expected risk model. Risk judgments are found to be transitive. Monotonicity or the substitution principle per se seems to hold, but the related probability accounting assumption is violated. The conjoint...

People judged both the attractiveness and risk of lotteries to win or lose money. The lotteries were designed to test whether risk and attractiveness judgments show systematic deviations from the simple sum of probability-by-utility-products analogous to (S)EU theory. Our results led to an...

Actions by individuals and households to reduce carbon-based energy consumption have the potential to change the picture of U.S. energy consumption and carbon dioxide emissions in the near term. To tap this potential, however, energy policies and programs need to replace outmoded assumptions...

This research explores whether there are systematic cross-national differences in choice-inferred risk preferences between Americans and Chinese. Study 1 found(a) that the Chinese were signi®cantly more risk seeking than the Americans, yet(b) that both nationals predicted exactly the opposite...

In this article, we describe a multistudy project designed to explain observed cross-national differences in risk taking between respondents from the People's Republic of China and the United States. Using this example, we develop the following recommendations forcross-cultural investigations....