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Nonlinear Probability Weighting Can Reflect Attentional Biases in Sequential Sampling.

Nonlinear probability weighting allows cumulative prospect theory (CPT) to account for key phenomena in decision making under risk (e.g., certainty effect, fourfold pattern of risk attitudes). It describes the impact of risky outcomes on preferences in terms of a rank-dependent nonlinear transformat...

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Published in:Psychological Review Vol. 129; no. 5; pp. 949 - 976
Main Authors: Zilker, Veronika, Pachur, Thorsten
Format: Article
Published: American Psychological Association Oct2022
Subjects:
Prospect theory
Decision making
Attentional bias
Drift diffusion models
Probability theory
Online Access:View this record in EBSCOhost