Loss aversion, the principle that losses loom larger than gains, is among the most widely
accepted ideas in the social sciences. The first part of this article introduces and discusses …

People can learn about the probabilistic consequences of their actions in two ways: One is
by consulting descriptions of an action's consequences and probabilities (eg, reading up on …

Predicting and understanding how people make decisions has been a long-standing goal in
many fields, with quantitative models of human decision-making informing research in both …

This article documents the economic relevance of measuring cognitive uncertainty: people's
subjective uncertainty over their ex ante utility-maximizing decision. In a series of …

The dominant paradigm of experiments in the social and behavioral sciences views an
experiment as a test of a theory, where the theory is assumed to generalize beyond the …

Large language models are powerful systems that excel at many tasks, ranging from
translation to mathematical reasoning. Yet, at the same time, these models often show …

Within just 7 years, behavioral decision research in psychology underwent a dramatic
change: In 1967, Peterson and Beach (1967) reviewed more than 160 experiments …

Straight Choices provides a fascinating introduction to the psychology of decision making,
enhanced by discussion of relevant examples of decision problems faced in everyday life …

One of the early goals of artificial intelligence (AI) was to create algorithms that exhibited
behavior indistinguishable from human behavior (ie, human-like behavior). Today, AI has …

Human decision-making underlies all economic behavior. For the past four decades, human
decision-making under uncertainty has continued to be explained by theoretical models …