title: The influence of probability format on elicited certainty equivalents.
abstract: We compare six different formats for the presentation of probabilities, in terms of the certainty equivalents that they elicit from human participants, and the probability-weighting parameters that participants' decisions imply. We find substantial differences among formats, including a visual analogue of the ratio bias. The results indicate that experimental results concerning decision making under risk can be greatly affected by the presentation format employed.
authors: Department of Economics, Tilburg University, Tilburg, The Netherlands. c.n.noussair@uvt.nl
authors: Charles N
authors: CN
authors: Noussair
authors: Bodo
authors: B
authors: Vogt
mesh_terms: D003657:Decision Making / Q000502:physiology*; D030141:Feedback, Psychological / Q000502:physiology*; D005717:Games, Experimental; D006801:Humans; D011336:Probability; D012309:Risk-Taking