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  • 1
    Electronic Resource
    Electronic Resource
    Probability Learning, Event-Splitting Effects and the Economic Theory of Choice (1999)
    Springer
    Theory and decision 46 (1999), S. 51-78 
    Details
    ISSN: 1573-7187
    Keywords: Event-splitting effects ; Prospect theory ; Probability learning
    Source: Springer Online Journal Archives 1860-2000
    Topics: Sociology , Economics
    Notes: Abstract This paper reports an experiment which investigates a possible cognitive antecedent of event-splitting effects (ESEs) experimentally observed by Starmer and Sugden (1993) and Humphrey (1995) – the learning of absolute frequency of event category impacting on the learning of probability of event category – and reveals some evidence that it is responsible for observed ESEs. It is also suggested and empirically substantiated that stripped-down prospect theory will accurately predict ESEs in some decision making tasks, but will not perform well in others. This contention, it is argued, is indicative of fundamental descriptive shortcomings in the economic conception of choice under uncertainty and may entail implications beyond the direct concerns of this paper.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1023/A:1004984621705
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    Paper (German National Licenses)
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  • 2
    Electronic Resource
    Electronic Resource
    Regret aversion or event-splitting effects? more evidence under risk and uncertainty (1995)
    Springer
    Journal of risk and uncertainty 11 (1995), S. 263-274 
    Details
    ISSN: 1573-0476
    Keywords: regret theory ; juxtaposition effects ; event-splitting effects ; anchoring effects
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract Recent experimental evidence has concluded that experimentally observed juxtaposition effects, as predicted by regret theory1, are largely attributable to “event-splitting effects” (ESEs) whereby the subjective decision weight attached to an outcome depends on the number of, as well as on the combined probability of, the disjoint events in which that outcome occurs. An experiment is reported that discriminates between juxtaposition effects and ESEs under conditions of both complete and incomplete information. The results confirm that juxtaposition effects are indeed largely due to ESEs and are robust over different informational conditions.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01207789
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    Paper (German National Licenses)
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