We report an experiment on a decision task by SAMUELSON and BAZERMAN (1985). Subjects submit a bid for an item with an …

weighting functions for the risky prospects placed 6 and 12 months into the future. The experiment is used to test whether … decision errors can explain or be highly correlated with hyperbolic discounting and non-linear (inverse-S-shaped) probability … weighting. We find evidence that decision errors are strongly correlated with hyperbolic discounting but do not find that …

We test the effects of dual processing differences in both individual traits and decision states on risk taking. In an … experiment with a large representative sample (N = 1,832), we vary whether risky choices are induced to be based on either … emotion or reason, while simultaneously measuring individual decision-making traits. Our results show that decision …

Prospect theory (PT) is the dominant descriptive theory of decision making under risk today. For the modeling of … experiments. In the first experiment, we elicit the value and probability weighting functions both under known and unknown … probability transformations rather than utility transformations. In the second experiment, we examine the effects of an increase …

changes of awareness. We study how exposure to unawareness affects choices under risk. Participants in our experiment choose …

long horizons. We present an experiment comparing decision making under certainty, risk, and ambiguity, over a shorter …