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 …

In this paper, I examine the decision-theoretic status of risk attitudes. I start by providing evidence showing that … the risk attitude concepts do not play a major role in the axiomatic analysis of the classic models of decision …

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 …

to pass the two most prominent litmus tests for descriptive decision theories under risk: the Allais paradox and the St …

The standard, Bayesian account of rational belief and decision is often argued to be unable to cope properly with … replace it as a guide for rational decision making. It defends a recent proposal, which reserves a role for the decision maker … main fronts typically evoked as relevant for rational belief and decision. It fares particularly well, we argue, in …