Butler, David; Isoni, Andrea; Loomes, Graham - In: Journal of Risk and Uncertainty 45 (2012) 3, pp. 191-213
Models of stochastic choice are intended to capture the substantial amount of noise observed in decisions under risk. We present an experimental test of one model, which many regard as the default—the Basic Fechner model. We consider one of the model’s key assumptions—that the noise around...