In this paper we investigate the claim that decisions from experience (in which the features of lotteries are learned through a sampling process) differ from decisions from description (in which features of lotteries are explicitly described). We find that the experience-description gap is not...

According to construal level theory (CLT) [Trope, Y., & Liberman, N. (2003) Temporal construal. Physical Review, 110, 403-421], psychological representation of information depends on "psychological distance", that is, on whether the relevant information refers to the near or distant...

Decision and risk analysts have considerable discretion in designing procedures for eliciting subjective probabilities. One of the most popular approaches is to specify a particular set of exclusive and exhaustive events for which the assessor provides such judgments. We show that assessed...