The appeal of expected utility theory as a basis for a descriptive model of risky decision making has diminished is a … parametric model of risky decision making. Our results suggest that models which provide for probability transformations are most …

In this paper, we assess the degree to which four of the most commonly used models of risky decision making can explain … explain the decision-making behavior of the majority of our subjects. Surprisingly, we find that the choice behavior of the … of risky decision making …

. In this paper, we explore the consequences of improved prediction in decision-making. To do so, we adapt existing models … of decision-making under uncertainty to account for the process of determining payoffs. We label this process of … on whether the improvements in prediction enable automated decision-making. We discuss the implications of improved …

We present a model of judicial decision making in which the judge overweights the salient facts of the case. The … context of the judicial decision, which is comparative by nature, shapes which aspects of the case stand out and draw the … framing effects in the decision to litigate. The model also offers a new approach to positive analysis of damage awards in …