๐”– Bobbio Scriptorium
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Judgmental probability and objective chance


Publisher
Springer
Year
1986
Tongue
English
Weight
537 KB
Volume
24
Category
Article
ISSN
1876-2514

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Subjects drew lines proportional in length to their subjective valuation of various amounts of money, available immediately and certainly, relative to a standard amount ranging across groups from $1,000,000 to $10. They also drew lines proportional to their subjective valuation of standard amounts w

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Risks and probabilities are often normatively deยฎned in terms of the relative frequency of a target outcome. Psychological studies have shown that people are skilled in processing frequency information. Despite this, they often form discrepant estimates of probabilities and risks. The present paper