Outcome uncertainty influences probability perception and risk attitudes

Outcome uncertainty influences probability perception and risk attitudes

Subjective inferences of probability play a critical role in decision-making. How we learn about choice options, through description or experience, influences how we perceive their likelihoods, an effect known as the description–experience (DE) gap. Classically, the DE gap details how low probabilit...

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Bibliographic Details
Main Authors: Thomas Ward Elston, Ian Grant Mackenzie, Victor Mittelstädt
Format: Article
Language:English
Published: The Royal Society 2021-10-01
Series:Royal Society Open Science
Subjects:
description experience gap
probability perception
inference
decision making
risk
Online Access:https://royalsocietypublishing.org/doi/10.1098/rsos.210307

Internet

https://royalsocietypublishing.org/doi/10.1098/rsos.210307

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