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Models of risky choice: A state-trace and signed difference analysis | |
Dunn, John C.1,2; Rao, Li-Lin3,4 | |
第一作者 | Dunn, John C. |
通讯作者邮箱 | john.dunn@uwa.edu.au |
摘要 | Models of risky choice fall into two broad classes; fixed utility models that satisfy the condition of simple scalability and everything else. While it is known that choice behavior can be observed that is inconsistent with all models, this has largely been based on the construction of special cases. We use state trace analysis and signed difference analysis to test a set of models on a set of ecologically representative risky choices. An advantage of this approach is that there is no requirement to posit a particular form for the error function that links the difference in the utilities of two gambles, A and B, with the probability of choosing A over B. We presented groups of participants with 30 variable gambles (A), each paired with one of four fixed gambles (B). We use state-trace analysis to test the prediction of all fixed utility models that the probability of choosing each A has the same order for all B. The results show that this prediction is not confirmed and a more complex model is required. We then use signed difference analysis to test two more complex models the random subjective expected utility model based on Decision Field Theory and a fixed utility mixture model. We derive a key prediction from the random subjective expected utility model and show that it is confirmed by the data. In contrast, the data are shown to be inconsistent with the fixed utility mixture model. (C) 2019 Elsevier Inc. All rights reserved. |
关键词 | Risky choice State-trace analysis Signed difference analysis Models of decision making Fixed utility models Mixture models Decision field theory Independence |
2019-06-01 | |
DOI | 10.1016/j.jmp.2018.12.005 |
发表期刊 | JOURNAL OF MATHEMATICAL PSYCHOLOGY |
ISSN | 0022-2496 |
卷号 | 90页码:61-75 |
收录类别 | SCI ; SSCI |
出版者 | ACADEMIC PRESS INC ELSEVIER SCIENCE |
WOS关键词 | DECISION-MAKING ; PROSPECT-THEORY ; SIMILARITY |
WOS研究方向 | Mathematics ; Mathematical Methods In Social Sciences ; Psychology |
WOS类目 | Mathematics, Interdisciplinary Applications ; Social Sciences, Mathematical Methods ; Psychology, Mathematical |
WOS记录号 | WOS:000473554000006 |
WOS分区 | Q1 |
资助机构 | Australian Research Council ; National Natural Science Foundation of China ; Youth Innovation Promotion Association CAS ; Young Elite Scientists Sponsorship Program by CAST |
引用统计 | |
文献类型 | 期刊论文 |
条目标识符 | http://ir.psych.ac.cn/handle/311026/29127 |
专题 | 中国科学院行为科学重点实验室 |
通讯作者 | Dunn, John C. |
作者单位 | 1.Univ Western Australia, Nedlands, WA, Australia 2.Edith Cowan Univ, Churchlands, WA, Australia 3.Chinese Acad Sci, CAS Key Lab Behav Sci, Inst Psychol, Beijing, Peoples R China 4.Univ Chinese Acad Sci, Dept Psychol, Beijing, Peoples R China |
推荐引用方式 GB/T 7714 | Dunn, John C.,Rao, Li-Lin. Models of risky choice: A state-trace and signed difference analysis[J]. JOURNAL OF MATHEMATICAL PSYCHOLOGY,2019,90:61-75. |
APA | Dunn, John C.,&Rao, Li-Lin.(2019).Models of risky choice: A state-trace and signed difference analysis.JOURNAL OF MATHEMATICAL PSYCHOLOGY,90,61-75. |
MLA | Dunn, John C.,et al."Models of risky choice: A state-trace and signed difference analysis".JOURNAL OF MATHEMATICAL PSYCHOLOGY 90(2019):61-75. |
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JMP_Models of risky (1099KB) | 期刊论文 | 作者接受稿 | 限制开放 | CC BY-NC-SA | 请求全文 |
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