Citation

Payne JW, Braunstein ML. Mem. Cognit. 1978; 6(5): 554-561.

Affiliation

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

Copyright

(Copyright © 1978, Psychonomic Society)

DOI

10.3758/BF03198244

PMID

24203389

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.

Language: en