We propose a model of instrumental belief choice under loss aversion. When new information arrives, an agent is prompted to abandon her prior. However, potential posteriors may induce her to take actions that generate a lower utility in some states than actions induced by her prior. These losses...

We use probability-matching variations on Ellsberg’s single-urn experiment to assess three questions: (1) How sensitive are ambiguity attitudes to changes from a gain to a loss frame? (2) How sensitive are ambiguity attitudes to making ambiguity easier to recognize? (3) What is the relation...

-Preface -- I. Behavioral Decision Theory and the Idea of It -- Chapter 1. Decision-making Phenomenon and Behavioral Decision Theory -- Chapter 2. Preference and Preference Structure -- II. Preference Reversal Phenomenon and Description of the Phenomenon -- Chapter 3. Ordinal Utility and...