. 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 …

errors in decision making are inevitable. Moreover, under the appropriate conditions, these decisions are random conditional … situations than would be possible with randomized control trials. This point is illustrated with data from medical decision …

In line with the fallacy of riskification of uncertainty by which decision makers believe that the effects of … institutional theory that points to stakeholder and institutional dynamics affecting economic incentives to invest in prevention and … business continuity. Taken together, this article offers the foundation for a behaviorally plausible, decision …

influences the decision to retire. The magnitude of behavioral responses to changes in social security benefits are reported and …

entrepreneurial decision. Our data are uniquely well-suited for this purpose. The sample consists of the 1981 and 1985 federal income … decision to become an entrepreneur and important financial characteristics of new enterprises. Our results suggest that the …

In this paper, we assess the degree to which four of the most commonly used models of risky decision making can explain … enough to approximate Kahnenman and Tversky's prospect theory and that for certain parametric values will yield the expected … explain the decision-making behavior of the majority of our subjects. Surprisingly, we find that the choice behavior of the …