The Effect of Experience on Context‐dependent Decisions
Volume: 31, Issue: 4, Pages: 535 - 546
Published: Jan 11, 2018
Abstract
Does the well‐documented “decoy effect” emerge in decisions from experience among risky options? We conducted a series of experiments where participants made choices between gambles, and we varied whether participants learned about the options from description, experience, or both. Our results consistently showed no traces of the decoy effect when participants learned from experience. Even when participants read precise descriptions of the...
Paper Details
Title
The Effect of Experience on Context‐dependent Decisions
Published Date
Jan 11, 2018
Volume
31
Issue
4
Pages
535 - 546
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