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Probability matching in risky choice: The interplay of feedback and strategy availability.

Probability matching in sequential decision making is a striking violation of rational choice that has been observed in hundreds of experiments. Recent studies have demonstrated that matching persists even in described tasks in which all the information required for identifying a superior alternativ...

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Published in:Memory & Cognition Vol. 41; no. 3; pp. 329 - 339
Main Authors: Newell, Ben, Koehler, Derek, James, Greta, Rakow, Tim, Ravenzwaaij, Don
Format: Article
Published: Springer Nature Apr2013
Subjects:
Australia
Canada
Analysis of variance
Cognition
Decision making
Undergraduates
Confidence intervals
Mathematical models
Probability theory
Research funding
Statistical sampling
Theory
Descriptive statistics
Online Access:View this record in EBSCOhost