Venkatraman, Vinod; Payne, John W.; Huettel, Scott A. - In: Organizational Behavior and Human Decision Processes 125 (2014) 2, pp. 73-87
When faced with multi-outcome gambles involving possibilities of both gains and losses, people often use a simple heuristic that maximizes the overall probability of winning (Pwin). Across three different studies, using choice data as well as process data from eye tracking, we demonstrate that...
