concerning behavior in decision trees. Following Cubitt (1996) , these principles include dynamic consistency, separability, and … subtrees as well as entire decision trees. Examples of behavior violating these principles are also reviewed, as are possible …

This paper focuses on information acquisition and individual decision making in ambiguous situations and presents a …, subjects can reduce or even eliminate the ambiguity and turn the decision situation into one of risk. Under the assumption that … an ambiguity averse subject should reduce ambiguity within a decision process we predicted that these subjects would …

Optimism bias is inconsistent with the independence of decision weights and payoffs found in models of choice under … optimistically biased, we propose an alternative model of risky choice, affective decision making, where decision weights - which we … label affective or perceived risk - are endogenized. Affective decision making (ADM) is a strategic model of choice under …