Eduard Brandstätter, Manuela Gußmack,
"The cognitive processes underlying risky choice"
, in Journal of Behavioral Decision Making, Vol. 26, Nummer 2, Wiley, Seite(n) 185-197, 2013
The cognitive processes underlying risky choice
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In this article, we tested two concepts of decision making: expected utility theory and heuristic choice. In Experiment 1, we applied think-aloud protocols to investigate violations of expected utility theory. In Experiments 2 to 4, we introduced a new process-tracing method?called predict-aloud protocols?that has advantages over previously suggested research methods. Results show the following: (i) people examine information between rather than within gambles; (ii) the priority heuristic emerges as the most frequently used strategy when problems are difficult; and (iii) people check for similarity when problems are easy.