of using empirical evidence on heuristics. The priority heuristic predicts actual human choices between risky gambles … well. It implies violations of expected utility theory such as common consequence effects, common ratio effects, the … fourfold pattern of risk taking and the reflection effect. We present an axiomatization of a parameterized version of the …

heterogeneous agents who may adopt various forecast heuristics. We seek to understand which framework mimics real-world adjustments …

expected utility models such as cumulative prospect theory (CPT), but use information in a non-compensatory manner and ignore … not diagnostic for the PH as compared to CPT. -- Decision Strategy ; Fast and Frugal Heuristics ; Bounded Rationality … ; Decision Latency ; Process Tracing ; Cumulative Prospect Theory …