The Experienced Utility of Expected Utility Approaches
Published 1 April 1980
Baruch Fischhoff, Bernard Goitein, Zur Shapira
Citations58
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Abstract
Abstract : Reviewing many research results, the present report concludes: (a) the ability of the weighted average models to predict the decisions that people make varies from situation to situation; (b) even where they are successful in predicting decisions, these models may not do a very good job of describing the psychological processes that determined them. That is, their predictive accuracy is in part an artifact of the research techniques used.
Keywords
Decision Sciences