Probability weighting functions estimated from decisions in the MESSAGE and NO MESSAGE conditions.

<p>This figure shows probability weighting functions, <i>w</i>(<i>p</i>), and individual participants' decision weights at each probability condition estimated using our behavioral model. A significant difference in probability weighting functions between the NO MESSAGE (blue line) and MESSAGE (red line) condition was obtained. The differences indicate that participants overweighted probabilities smaller than 20% and underweighted probabilities greater than 80% to a greater extent in the MES compared to the NOM condition. These results indicate that the presence of the expert's advice, whose decision strategy is shown in the dotted line, had a significant effect on participants' probability weighting functions. A median α of 0.74 was obtained in the NO MESSAGE condition and, importantly, the α in the MESSAGE condition was significantly different, as indicated by a significant δ of −0.1066 (<i>P</i><0.05).