Dynamic Decision-Making under Uncertainty:An Experimental Investigation of Choices between Accumulator Gambles

Cubitt, R.P. and Sugden, R. (2001) Dynamic Decision-Making under Uncertainty:An Experimental Investigation of Choices between Accumulator Gambles. Journal of Risk and Uncertainty, 22 (2). pp. 103-128. ISSN 0895-5646

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Abstract

This paper presents an experiment that is designed to be more effective than previous studies at reproducing in the laboratory the affective experiences of risk-taking, such as hope, fear, thrill, pain of loss, regret, disappointment or elation. The use of dynamic choice problems involving accumulator gambles, and a particular randomisation device to resolve them, are central to the design. Our results both are inconsistent with orthodox dynamic choice theory and cast doubt on the generality of effects observed in previous designs. We discuss these findings, in terms of the relative impacts on behaviour of affective experience and judgement.

Item Type: Article
Uncontrolled Keywords: affective experience,dynamic choice,separability,timing independence,reduction,accumulator gambles
Faculty \ School: ?? UEA ??
Faculty of Social Sciences > School of Economics
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Depositing User: Pure Connector
Date Deposited: 19 Nov 2013 16:14
Last Modified: 04 Dec 2018 10:30
URI: https://ueaeprints.uea.ac.uk/id/eprint/44507
DOI: 10.1023/A:1011105524935

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