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Document type:
Zeitschriftenaufsatz 
Author(s):
Ungemach, Christoph; Chater, Nick; Stewart, Neil 
Non-TUM Co-author(s):
ja 
Cooperation:
international 
Title:
Are Probabilities Overweighted or Underweighted When Rare Outcomes Are Experienced (Rarely)? 
Abstract:
When making decisions involving risky outcomes on the basis of verbal descriptions of the outcomes and their associated probabilities, people behave as if they overweight small probabilities. In contrast, when the same outcomes are instead experienced in a series of samples, people behave as if they underweight small probabilities. We present two experiments showing that the existing explanations of the underweighting observed in decisions from experience are not sufficient to account for the ef...    »
 
Intellectual Contribution:
Discipline-based Research 
Journal title:
Psychological Science 
Journal listet in FT50 ranking:
nein 
Year:
2009 
Journal volume:
20 
Journal issue:
Pages contribution:
473-479 
Publisher:
SAGE Publications 
E-ISSN:
0956-79761467-9280 
Date of publication:
01.04.2009 
Key publication:
Ja 
Peer reviewed:
Ja 
International:
Ja 
Book review:
Nein 
Commissioned:
not commissioned 
Professional Journal:
Ja 
Interdisciplinarity:
Ja 
Ethics and Sustainability:
Nein