"Bayesian anchoring" and the fourfold pattern of risk attitudes

no code implementations • 13 Jan 2024 • Francesco Fumarola, Lukasz Kusmierz, Ronald B. Dekker

Experiments on decision making under uncertainty are known to display a classical pattern of risk aversion and risk seeking referred to as "fourfold pattern" (or "reflection effect") , but recent experiments varying the speed and order of mental processing have brought to light a more nuanced phenomenology.

Decision Making Decision Making Under Uncertainty