Modeling choice and valuation in decision experiments

  • Loomes G
  • 86


    Mendeley users who have this article in their library.
  • 30


    Citations of this article.


This article develops a parsimonious descriptive model of individual choice and valuation in the kinds of experiments that constitute a substantial part of the literature relating to decision making under risk and uncertainty. It suggests that many of the best known "regularities" observed in those experiments may arise from a tendency for participants to perceive probabilities and payoffs in a particular way. This model organizes more of the data than any other extant model and generates a number of novel testable implications which are examined with new data.

Author-supplied keywords

  • Decision anomalies
  • Intransitivity
  • Relative judgment
  • Similarity

Get free article suggestions today

Mendeley saves you time finding and organizing research

Sign up here
Already have an account ?Sign in

Find this document


  • Graham Loomes

Cite this document

Choose a citation style from the tabs below

Save time finding and organizing research with Mendeley

Sign up for free