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which probability amplitudes (popularized by quantum decision [field] theory) are computed. This explains the “quantal … preferences are different for the same stimuli because decision weights depend on broken cycles for HPWF. However, our model also …
Persistent link: https://www.econbiz.de/10013113294
all decision theorists agree that values and beliefs jointly influence willingness to act under uncertainty. However …. Our purpose in this chapter is to bring into sharper focus the role of values and beliefs in decision under uncertainty …
Persistent link: https://www.econbiz.de/10014055135
of the decision, t=m, the decision maker (DM) possesses partial information about the events/propositions of interest: DM …
Persistent link: https://www.econbiz.de/10014358482
of the proposed probability weighting function can be interpreted as a decision maker's sensitivity to the dispersion and … skewness of lottery's outcomes. A decision maker who prefers positively skewed distributions (e.g., a small chance to win a … weighting function. This function crosses the 45° line at a probability smaller (greater) than 0.5 if a decision maker is also …
Persistent link: https://www.econbiz.de/10013060674
We present a general classification of the conditions under which cognitive science, concerned e.g. with decision … under uncertainty. Conditions for the appearance of quantum interference in cognitive sciences and the conditions when … interference cannot arise are formulated …
Persistent link: https://www.econbiz.de/10009751180
risk aversion for both small-stakes and large-stakes gambles; and (b) this decision theory should be replaced with an … these conclusions. Either concavity calibration has no general implication for expected utility theory or it has problematic … implications for all decision theories that involve concave transformations (utility or value functions) of positive money payoffs …
Persistent link: https://www.econbiz.de/10014058909
decision making under uncertainty. For a clear comparison we will stay as close as possible to the framework of SEU suggested …-known paradoxa of decision theory. …
Persistent link: https://www.econbiz.de/10011745366
We derive critical values for the violation area in Nth order Almost Stochastic Dominance based on the Nth degree coefficient of relative risk aversion of reasonable utility functions. Our critical values are consistent with existing experimental estimates but apply for a broader range of choice...
Persistent link: https://www.econbiz.de/10013014682
of reductionism, and a rational structure based on tree diagram to systematize the process of decision making. The study … requires design of a critical decision that may incorporate research and trial and error activities. Overall, then, this paper …
Persistent link: https://www.econbiz.de/10012828333
We examine generational differences in risk-taking behavior by means of a laboratory experiment with monetary incentives. We estimate the parameterized models in the framework of cumulative prospect theory and examine the risk aversion, probability weightings and reference point adoption of...
Persistent link: https://www.econbiz.de/10003757815