We compare six different formats for the presentation of probabilities, in terms of the certainty equivalents that they elicit from human participants, and the probability-weighting parameters that participants' decisions imply. We find substantial differences among formats, including a visual analogue of the ratio bias. The results indicate that experimental results concerning decision making under risk can be greatly affected by the presentation format employed.
|Title of host publication||Decision Making|
|Subtitle of host publication||Neural and Behavioural Approaches|
|Editors||V.S.C. Pammi, N. Srinivasan|
|Place of Publication||Amsterdam|
|Number of pages||536|
|Publication status||Published - 2013|
|Name||Progress in Brain Research|