In confidence theory, the decision maker relies on statistical regularities from the economic environment to adopt … formation in choice under risk. Three novel experiments are presented that demonstrate the ability of the new theory to explain … prior in Bayesian inference is proportional to the uncertainty related to its distribution, the decision maker arrives at …

revealed preference experiment, and without making any parametric assumptions, we show that 1/3 of participants belong in the …

We conduct a lottery experiment to assess the predictive importance of simple choice process metrics (SCPMs) in … modeling approaches. The SCPMs are recorded during a fixed pre-decision phase and are derived from tracking subjects' eye … subject-specific risk preferences and is largely driven by including information on lottery design variables. As a key result …

In many decisions, we are not only uncertain about the predicted outcomes of decision alternatives but also about … or in standard utility theory. Based on the expected expected utility (EEU) concept, we consider uncertain predictions … environmental decision problems and we apply it to a hypothetical multi-criteria decision regarding coral reef management with …

bounded rationality. Experimentally observed choice behavior in various decision tasks is used to assess heterogeneity in how … regarding concerns nor risk attitude matter and probability of the binary chance move is (optimal) choice …-irrelevant, categorizing decision types relies on parameter dependence and choice adaptations. We find that most participants reduce …

A continuing goal of experiments is to understand risky decisions when the decisions are important. Often a decision …

are information seeking otherwise. Because belief updating depends on the decision problem in which new information is …

aversion. In a novel preregistered online experiment with 1195 participants, we test the hypothesis that people show a higher … lotteries. The experiment results confirm our hypothesis. These results imply that theoretical models of choice under …

regularities in stochastic choice, risk attitudes, and experimental design. The model delivers new predictions that are confirmed …

This paper extends choice theory by allowing for the interaction between cognitive costs and imitative dynamics. The … order to disentangle different choice dynamics, they devise a laboratory experiment with a novel experimental task in which …