Living near the edge: how extreme outcomes and their neighbours drive risky choice

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Living near the edge: how extreme outcomes and their neighbours drive risky choice

Extreme stimuli are often more salient in perception and memory than moderate stimuli. In risky choice, when people learn the odds and outcomes from experience, the extreme outcomes (best and worst) also stand out. This additional salience leads to more risk-seeking for relative gains than for relat...

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Bibliographic Details
Main Authors:	Ludvig, Elliot A., Madan, Christopher R., McMillan, Neil, Xu, Yaqian, Spetch, Marcia L.
Format:	Article
Language:	English
Published:	American Psychological Association 2018
Subjects:	risky choice; decision making; memory; extreme outcomes; edge effects; end values
Online Access:	https://eprints.nottingham.ac.uk/49328/

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