Individuals often have only incompletely known preferences when choosing between pair-wise gambles. Particular presentations of the choice problem may then passively encourage the use of some choice method to clarify the preference. Different presentational displays can then lead to choice...

We build a satisficing model of probabilistic choice under risk which embeds Expected Utility Theory (EUT) into a boundedly rational deliberation process. The decision maker accumulates evidence for and against alternative options by repeatedly sampling from her underlying set of EU preferences...