emotions. This conjecture is tested in an experiment with real lottery tickets. We show that our theoretical considerations may …

experiments. Contrary to the traditional view of expected utility theory, the choices can be explained in large part by previous … outcomes or surpassed by favorable outcomes. Our results point to reference-dependent choice theories such as prospect theory …

From the viewpoint of the independence axiom of expected utility theory, an interesting empirical dynamic choice …

-down" model of executive optimization. Others, like salience theory, assume a "bottom-up" influence where attention is driven by …-specific and decisionspecific variation in attention and verify our framework in an eye-tracking experiment on risky choice. We … aversion. We discuss the insights regarding the nature of attention and its role in economic theory. …