Attentional dynamics of evidence accumulation explain why more numerate people make better decisions under risk
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DOI: 10.1038/s41598-024-68969-5
Abstract: In decisions under risk, more numerate people are typically more likely to choose the option with the highest expected value (EV) than less numerate ones. Prior research indicates that this finding cannot be explained by… read more here.
Keywords: decision quality; numerate people; evidence; decisions risk ... See more keywords
Decisions under Risk Are Decisions under Complexity
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DOI: 10.1257/aer.20221227
Abstract: We provide evidence that classic lottery anomalies like probability weighting and loss aversion are not special phenomena of risk. They also arise (and often with equal strength) when subjects evaluate deterministic, positive monetary payments that… read more here.
Keywords: loss; complexity; risk decisions; decisions complexity ... See more keywords