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Category: Risk-Reward

The ecology of competition: A theory of risk–reward environments in adaptive decision making

January 1, 2021 Timothy J. Pleskac, Larissa Conradt, Christina Leuker, and Ralph Hertwig

In many choice environments, risks and rewards—or probabilities and payoffs—seem tightly coupled such that high payoffs only occur with low…

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Posted in: Adaptive Toolbox, Choice Environment, Risk-Reward Filed under: publication

Exploiting risk–reward structures in decision making under uncertainty

January 1, 2018 Timothy J. Pleskac, Larissa Conradt, Christina Leuker, and Ralph Hertwig

People often have to make decisions under uncertainty—that is, in situations where the probabilities of obtaining a payoff are unknown…

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Posted in: Choice Environment, Risk-Reward, Uncertainty Filed under: publication

Ecologically rational choice and the structure of the environment.

January 1, 2014 Ralph Hertwig, and Timothy J. Pleskac

In life, risk is reward and vice versa. Unfortunately, the big rewards people desire are relatively unlikely to occur. This…

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Posted in: Ambiguity Aversion, Choice Environment, Risk-Reward Filed under: publication

Decision making and learning while taking sequential risks

January 1, 2008 Timothy J. Pleskac

A sequential risk-taking paradigm used to identify real-world risk takers invokes both learning and decision processes. This article expands the…

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Posted in: Adaptive Toolbox, Decision Making, Real World Scenario, Risk-Reward Filed under: publication

Modeling Behavior in a Clinically Diagnostic Sequential Risk-Taking Task

January 1, 2005 Thomas S. Wallsten, Timothy J. Pleskac, and C. W. Lejuez

This article models the cognitive processes underlying learning and sequential choice in a risk-taking task for the purposes of understanding…

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Posted in: Adaptive Toolbox, Real World Scenario, Risk-Reward Filed under: publication

Lab News

  • Dr. Pleskac to join panel discussion on Mapping Behavior Around the Virus: Behavioral Scientists Examine Activity Amid COVID-19 Pandemic
  • The ecology of competition: A theory of risk–reward environments in adaptive decision making
  • Dr. Pleskac to give a talk at the Science Matters Brown Bag Lunch and Learn: Tools for Thinking about Risk During the Pandemic
  • Dr. Pleskac joins Living Lab Radio for podcast on Taming Uncertainty
  • Institute for Policy & Social Research 2018-2019 Luncheon
  • Twitter
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