The role of memory in distinguishing risky decisions from experience and description

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The role of memory in distinguishing risky decisions from experience and description

People’s risk preferences differ for choices based on described probabilities versus those based on information learned through experience. For decisions from description, people are typically more risk averse for gains than for losses. In contrast, for decisions from experience, people are sometime...

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Bibliographic Details
Main Authors:	Madan, Christopher R., Ludvig, Elliot A., Spetch, Marcia L.
Format:	Article
Published:	Taylor & Francis 2016
Subjects:	Decisions from description; Decisions from experience; Decision-making; Description–experience gap; Memory; Risky choice
Online Access:	https://eprints.nottingham.ac.uk/49071/

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