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Payne JW, Braunstein ML. Risky choice: An examination of information acquisition behavior. Mem Cognit. 1978;6(5):554-61doi: 10.3758/BF03198244.
Payne, J. W., & Braunstein, M. L. (1978). Risky choice: An examination of information acquisition behavior. Memory & cognition, 6(5), 554-61. https://doi.org/10.3758/BF03198244
Payne, J W, and Braunstein, M L. "Risky choice: An examination of information acquisition behavior." Memory & cognition vol. 6,5 (1978): 554-61. doi: https://doi.org/10.3758/BF03198244
Payne JW, Braunstein ML. Risky choice: An examination of information acquisition behavior. Mem Cognit. 1978 Sep;6(5):554-61. doi: 10.3758/BF03198244. PMID: 24203389.
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Mem Cognit. 1978 Sep;6(5):554-61. doi: 10.3758/BF03198244.

Risky choice: An examination of information acquisition behavior.

Memory & cognition

J W Payne, M L Braunstein

Affiliations

  1. Graduate School of Business Administration, Duke University, 27706, Durham, North Carolina.

PMID: 24203389 DOI: 10.3758/BF03198244

Abstract

The monitoring of information acquisition behavior, along with other process tracing measures such as response times, was used to examine how individuals process information about gambles into a decision. Subjects indicated preferences among specially constructed three-outcome gambles. The number of alternatives available was varied across the sets of gambles. A majority of the subjects processed information about the gambles in ways inconsistent with compensatory models of risky decision making, such as information integration (Anderson & Shanteau, 1970). Furthermore, the inconsistency between observed information acquisition behavior and such compensatory rules increased as the choice task became more complex. Alternative explanations of risky choice behavior are considered.

References

  1. Mem Cognit. 1976 Nov;4(6):747-52 - PubMed
  2. Mem Cognit. 1975 May;3(3):267-76 - PubMed

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