It has been shown that in certain situations losses exert a stronger effect on behavior than
respective gains, and this has been commonly explained by the argument that losses are …

In decisions from experience, there are 2 experimental paradigms: sampling and repeated-
choice. In the sampling paradigm, participants sample between 2 options as many times as …

To what extent is there a general factor of risk preference, R, akin to g, the general factor of
intelligence? Can risk preference be regarded as a stable psychological trait? These …

Bayesian inference has become a standard method of analysis in many fields of science.
Students and researchers in experimental psychology and cognitive science, however, have …

Evidence shows that people's preference for risk changes considerably when measured
using different methods, which led us to question whether the common practice of using a …

People's decisions and judgments are disproportionately swayed by improbable but
extreme eventualities, such as terrorism, that come to mind easily. This article explores …

Meaning is a fundamental component of nearly all aspects of human cognition, but formal
models of semantic memory have classically lagged behind many other areas of cognition …

Many everyday decisions have to be made under risk and can be interpreted as choices
between gambles with different outcomes that are realized with specific probabilities. The …

Perfectly rational decision-makers maximize expected utility, but crucially ignore the
resource costs incurred when determining optimal actions. Here, we propose a …

Abstract Erev, Ert, and Roth organized three choice prediction competitions focused on three
related choice tasks: One shot decisions from description (decisions under risk), one shot …