In this work we asked if risk attitudes influence the way agents learn in a probabilistic environment. For that purpose, 31 male students played a version of a well-known game called the multi-armed bandit (with four levers/buttons). We found that after controlling for cognitive abilities (i.e....

Binary data latent class analysis is a form of model-based clustering applied in a wide range of fields. A central assumption of this model is that of conditional independence of responses given latent class membership, often referred to as the “local independence” assumption. The results of...