Translation of gambles and aspiration level effects in risky choice behaviour.

Author(s)
Payne, J.W. Laughhunn, D.J. & Crum, R.
Year
Abstract

Two recent models of risky decision making have emphasized the importance of target return or a reference point in determining preferences and choices among gambles. The target return and reference point concepts represent variations on an old idea in theories of decision making: level of aspiration. Additional evidence on the need to incorporate an aspiration level type of concept in the analysis of risky choice behaviour is presented. A model of the effects of a reference point on risky choice behaviour is presented.

Request publication

5 + 3 =
Solve this simple math problem and enter the result. E.g. for 1+3, enter 4.

Publication

Library number
B 17870 /01/
Source

Durham, Duke University, Graduate School of Business Administration, 1980, 39 p. + app., tab., ref.; NTIS AD-A083171

Our collection

This publication is one of our other publications, and part of our extensive collection of road safety literature, that also includes the SWOV publications.