Concurrent schedules may be viewed as consisting of two pairs of stay and switch schedules, each pair associated with one of the alternatives. A stay schedule arranges reinforcers for staying and responding at one alternative, whereas the associated switch schedule arranges reinforcers for...

Performance on concurrent schedules can be decomposed to run lengths (the number of responses before switching alternatives), or visit durations (time at an alternative before switching alternatives), that are a function of the ratio of the rates of reinforcement for staying and switching. From...

This study investigates the influence of past volatility on individual investors' forecasting behavior. We conducted two experiments in which we used real stock prices to construct low- and high-volatility time series, and asked participants to make both point estimates and interval forecasts of...

Optimal foraging theory proposes that animals obtain the highest rate of reinforcers for the least effort and momentary maximizing theory proposes that animals make the response that at that instant is most likely to be reinforced. While each theory may account for matching on concurrent...

Concurrent procedures may be conceptualized as consisting of two pairs of schedules with only one pair operating at a time. One schedule of each pair arranges reinforcers for staying in the current alternative, and the other schedule arranges reinforcers for switching to the other alternative....

Previous work on the joint effects of vagueness in probabilities and outcomes in decisions about risky prospects has documented the decision-makers’ (DMs) differential sensitivity to these two sources of imprecision. Budescu et al. [6] report two studies in which DMs provided certainty...