The social dilemma paradigm traditionally addresses two types of collective action problems: give-some and take-some resource management dilemmas. We highlight several limitations of this paradigm in addressing more complicated resource management problems where actors both give and/or take...

In order to review the empirical literature on subjective probability encoding from a psychological and psychometric perspective, it is first suggested that the usual encoding techniques can be regarded as instances of the general methods used to scale psychological variables. It is then shown...

Vagueness attitudes have been used to explain anomalies and irregularities in investment behavior. It is generally assumed (Ellsberg 1961) that decision makers (DMs) dislike vagueness, but this assumption has been challenged by empirical results documenting systematic alternative attitudes to...

We present a new method for constructing joint probability distributions of continuous random variables using isoprobability contours--sets of points with the same joint cumulative probability. This approach reduces the joint probability assessment into a one-dimensional cumulative probability...

Often research in judgment and decision making requires comparison of multiple competing models. Researchers invoke global measures such as the rate of correct predictions or the sum of squared (or absolute) deviations of the various models as part of this evaluation process. Reliance on such...

The calibration of probability or confidence judgments concerns the association between the judgments and some estimate of the correct probabilities of events. Researchers rely on estimates using relative frequencies computed by aggregating data over observations. We show that this approach...

We describe and empirically investigate a hybrid social dilemma that merges give-some and take-some dilemmas by allowing individuals to choose to either give or to take resources from a shared resource pool. Study 1 finds that (a) group size increases the inequality among group members and the...

A vast literature shows that individuals frequently violate normative principles in reasoning. In this paper, we report the results of four studies designed to determine if information dissemination in competitive auctions can reduce, or even eliminate, logical errors in the Wason selection...