Probability Learning, Event-Splitting Effects and the Economic Theory of Choice

Theory and Decision 46 (1):51-78 (1999)
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
Keywords Event-splitting effects  Prospect theory  Probability learning
Categories (categorize this paper)
DOI 10.1023/A:1004984621705
Options
 Save to my reading list
Follow the author(s)
Edit this record
My bibliography
Export citation
Find it on Scholar
Mark as duplicate
Request removal from index
Revision history
Download options
Our Archive


Upload a copy of this paper     Check publisher's policy     Papers currently archived: 30,300
Through your library
References found in this work BETA

No references found.

Add more references

Citations of this work BETA

Add more citations

Similar books and articles
Event Concepts.Roberto Casati & Achille C. Varzi - 2007 - In Thomas F. Shipley & Jeff Zacks (eds.), Understanding Events: From Perception to Action. Oxford University Press. pp. 31�54.
Risk, Uncertainty and Hidden Information.Stephen Morris - 1997 - Theory and Decision 42 (3):235-269.
Objective Probability as a Guide to the World.Michael Strevens - 1999 - Philosophical Studies 95 (3):243-275.
Causation: The Elusive Grail of Epidemiology. [REVIEW]L. R. Karhausen - 2000 - Medicine, Health Care and Philosophy 3 (1):59-67.
Teoria zdarzeń sekwencyjnych.Ondrej Majer - 2002 - Filozofia Nauki 1.
Bayesian Probability.Patrick Maher - 2010 - Synthese 172 (1):119 - 127.
Rational Choice Theory and Economic Laws: The Role of Shared Values.Amparo Gómez Rodríguez - 2008 - Poznan Studies in the Philosophy of the Sciences and the Humanities 96 (1):191-205.
Probabilities: Reasonable or True?J. Alberto Coffa - 1977 - Philosophy of Science 44 (2):186-198.
Added to PP index
2010-09-02

Total downloads
43 ( #124,150 of 2,193,091 )

Recent downloads (6 months)
1 ( #290,277 of 2,193,091 )

How can I increase my downloads?

Monthly downloads
My notes
Sign in to use this feature