In many choice environments, risks and rewards—or probabilities and payoffs—seem tightly coupled such that high payoffs only occur with low…
Social psychologists have relied on computerized shooting tasks to test whether race influences decisions to shoot. These studies reveal that…
People often have to make decisions under uncertainty—that is, in situations where the probabilities of obtaining a payoff are unknown…
In life, risk is reward and vice versa. Unfortunately, the big rewards people desire are relatively unlikely to occur. This…
The recognition heuristic uses a recognition decision to make an inference about an unknown variable in the world. Theories of…