Probability of choice is the primary method of measurement suggested by stochastic models of choice for validating decision-making models. It can be measured by relative frequency of choice (RF) or by preference strength (PS). It is suggested in this research that the relationship between PS values and RF values is not a linear but a cubic function, in the lower section of which RF is zero. In the middle, RF is monotonically related to PS, and in the upper section, RF is always 1.0. Twenty subjects performed decision tasks resulting in 400 pairs of PS and RF values. The hypothesized relationship between RF and PS was supported by the analyses. The methodological and theoretical implications are discussed
Preference formation is a complex problem as it is subjective, involves emotion, is led by implicit ...
<div><p>Preference formation is a complex problem as it is subjective, involves emotion, is led by i...
Background: Probabilistic choice has been attracting attention in psychopharmacology and neuroeconom...
Influential economic approaches as random utility models assume a monotonic relation between choice ...
Contains fulltext : 19057.pdf (publisher's version ) (Open Access)This PhD thesis ...
To have transitive preferences, for any options x, y, and z, one who prefers x to y and y to z must ...
Many experiments investigating different decision theories have relied heavily on pairwise choices b...
ABSTRACT. Results from paired comparison experiments suggest that as respondents progress through a ...
Numerous studies have convincingly shown that prospect theory can better describe risky choice behav...
Research on preference reversals has demonstrated a disproportionate influence of outcome probabilit...
This paper extends the literature on the estimation of expected utility and non-expected-utility pre...
Humans are notoriously bad at understanding probabilities, exhibiting a host of biases and distortio...
In one experiment we studied the extent to which theories of judgment, decision-making and memory ca...
The paper proposes a closed-form econometric model of joint SP choices and corresponding elicited ce...
We propose and analyze a general model of simple preference intensity comparisons. The model encompa...
Preference formation is a complex problem as it is subjective, involves emotion, is led by implicit ...
<div><p>Preference formation is a complex problem as it is subjective, involves emotion, is led by i...
Background: Probabilistic choice has been attracting attention in psychopharmacology and neuroeconom...
Influential economic approaches as random utility models assume a monotonic relation between choice ...
Contains fulltext : 19057.pdf (publisher's version ) (Open Access)This PhD thesis ...
To have transitive preferences, for any options x, y, and z, one who prefers x to y and y to z must ...
Many experiments investigating different decision theories have relied heavily on pairwise choices b...
ABSTRACT. Results from paired comparison experiments suggest that as respondents progress through a ...
Numerous studies have convincingly shown that prospect theory can better describe risky choice behav...
Research on preference reversals has demonstrated a disproportionate influence of outcome probabilit...
This paper extends the literature on the estimation of expected utility and non-expected-utility pre...
Humans are notoriously bad at understanding probabilities, exhibiting a host of biases and distortio...
In one experiment we studied the extent to which theories of judgment, decision-making and memory ca...
The paper proposes a closed-form econometric model of joint SP choices and corresponding elicited ce...
We propose and analyze a general model of simple preference intensity comparisons. The model encompa...
Preference formation is a complex problem as it is subjective, involves emotion, is led by implicit ...
<div><p>Preference formation is a complex problem as it is subjective, involves emotion, is led by i...
Background: Probabilistic choice has been attracting attention in psychopharmacology and neuroeconom...