title: Loss aversion and inhibition in dynamical models of multialternative choice.
abstract: The roles of loss aversion and inhibition among alternatives are examined in models of the similarity, compromise, and attraction effects that arise in choices among 3 alternatives differing on 2 attributes. R. M. Roe, J. R. Busemeyer, and J. T. Townsend (2001) have proposed a linear model in which effects previously attributed to loss aversion (A. Tversky & D. Kahneman, 1991) arise from attention switching between attributes and similarity-dependent inhibitory interactions among alternatives. However, there are several reasons to maintain loss aversion in a theory of choice. In view of this, an alternative theory is proposed, integrating loss aversion and attention switching into a nonlinear model (M. Usher & J. L. McClelland, 2001) that relies on inhibition independent of similarity among alternatives. The model accounts for the 3 effects and makes testable predictions contrasting with those of the Roe et al. (2001) model.
authors.affiliation: Department of Psychology, Birkbeck College, University of London, London, England. m.usher@bbk.ac.uk
authors.forename: Marius
authors.initials: M
authors.lastname: Usher
authors.forename: James L
authors.initials: JL
authors.lastname: McClelland
mesh_terms: D001288:Attention; D002755:Choice Behavior; D006801:Humans; D007266:Inhibition, Psychological; D008960:Models, Psychological; D009042:Motivation; D017711:Nonlinear Dynamics