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What is Attention to Loss Probabilities in Decisions about?

This paper investigates how individuals pay attention to loss probabilities in decision-making, challenging traditional decision theories like Expected Utility Theory and Prospect Theory. Through a series of experiments involving choice, allocation, and investment tasks, the study finds that participants prefer options with lower loss probabilities, even when these options are less attractive based on other measures. The results suggest a need for an adaptation of Prospect Theory to account for explicit att

Author

Isaque Dietrich Garcia

Language

EN