, while underweighting persists in actual choices, overweighting is observed in judged probabilities. The results of the two … underweighting of rare events. The current paper extends the results of such contributions and further strengthens the evidence on … underweighting. The first experiment shows that the discrepancy persists even when people sample the entire population of outcomes …

, especially if their samples are small. The current paper examines the necessity of sample error in the underweighting of rare … repeated decision making paradigm that controls for sample biases and the "hot stove" effect. Moreover, while underweighting … persists in actual choices, overweighting is observed in judged probabilities. The results of the two experiments strengthen …