In many choice environments, risks and rewards—or probabilities and payoffs—seem tightly coupled such that high payoffs only occur with low…
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…
A sequential risk-taking paradigm used to identify real-world risk takers invokes both learning and decision processes. This article expands the…
This article models the cognitive processes underlying learning and sequential choice in a risk-taking task for the purposes of understanding…