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Measuring the Subjective Value of Risky and Ambiguous Options using Experimental Economics and Functional MRI Methods
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Feedback produces divergence from prospect theory in descriptive choice

Ryan K Jessup1, Anthony J Bishara, Jerome R Busemeyer

  • 1Department of Psychological and Brain Sciences, Program in Cognitive Science, Indiana University, USA. ryan.jessup@gmail.com

Psychological Science
|November 13, 2008
PubMed
Summary

Trial-by-trial feedback in decision-making tasks causes individuals to underweight small probabilities, shifting choices toward objective probability weighting. This contrasts with typical overweighting observed in descriptive paradigms without feedback.

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