The gamble has been to decision research what the fruit fly has been to biology–a vehicle
for examining fundamental processes with presumably important implications outside the …

The gamble has been to decision research what the fruit fly has been to biology–a vehicle
for examining fundamental processes with presumably important implications outside the …

Investigated the concept of risk and its role in determining preferences, using pairs of
specifically constructed 3-outcome gambles. Ss were 47 undergraduates. The risk …

We compare and critique two measures of risk perception. We suggest that a single question—
“How risky is the situation?”—captures the concept of risk perception more accurately than …

Publisher Summary This chapter discusses the psychology of risk: what risk is (if it is
anything at all), how people think about it, what they feel about it, and what they do about it …

We examine the robustness of the fourfold pattern of risk attitudes under two elicitation
procedures. We find that individuals are, on average, risk‐seeking over low‐probability …

In economic theory, risk aversion is a characteristic of the typical utility function of money.
Observations of how people deal with risks in real life have cast some doubts on the …

Conventional economic theory assumes that people are uniformly risk averse. Psychological
studies, however, have shown that people are sometimes risk averse for gains but risk …

Prior studies have observed that the attractiveness of playing a simple gamble (7/36 to win
9;otherwisewinnothing)isgreatlyenhancedbyintroducingasmallloss(7/36win 9; otherwise …

We develop and evaluate a simple gamble-choice task to measure attitudes toward risk, and
apply this measure to examine differences in risk attitudes of male and female university …