The aim of this article is to evaluate the contribution of process tracing data to the development and testing of models of judgment and decision making (JDM). We draw on our experience of editing the ``Handbook of process tracing methods for decision research'' recently published in the SJDM...

Resolution of debates in cognition usually comes from the introduction of constraints in the form of new data about either the process or representation. Decision research, in contrast, has relied predominantly on testing models by examining their fit to choices. The authors examine a recently...

We appreciate that Brandstatter, Gigerenzer, and Hertwig (2008) agree that process models are indeed useful for advancing researchers' understanding of choice processes. Their statement that choices represent adaptive process is also welcome (see Payne, Bettman, & Johnson, 1993), as is the...

The endowment effect is the finding that possession of an item adds to its value. We introduce a new procedure for testing this effect: participants are divided into two groups. Possession group participants inspect a numbered lottery ticket and know it is theirs, while inspection group...