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Direct linkWeber, Elke U.; Shafir, Sharoni; Blais, Ann-Renee – Psychological Review, 2004
This article examines the statistical determinants of risk preference. In a meta-analysis of animal risk preference (foraging birds and insects), the coefficient of variation (CV), a measure of risk per unit of return, predicts choices far better than outcome variance, the risk measure of normative models. In a meta-analysis of human risk…
Descriptors: Probability, Risk, Animals, Predictor Variables
Peer reviewedKahneman, Daniel; Tversky, Amos – Psychological Review, 1973
In this paper, we explore the rules that determine intuitive predictions and judgments of confidence and contrast these rules to the normative principles of statistical prediction. (Author)
Descriptors: Correlation, Evaluation, Personality Assessment, Prediction
