Theoretical Models of Choice and Strategy Behavior: Stable State Behavior in the Two-Choice Uncertain Outcome Situation
- 1 December 1959
- journal article
- Published by Cambridge University Press (CUP) in Psychometrika
- Vol. 24 (4) , 303-316
- https://doi.org/10.1007/bf02289813
Abstract
A theoretical approach to the understanding of human behavior in uncertain outcome situations is suggested, an approach which draws upon utility theory, decision-making theory, and statistical association theory. Experimental evidence supporting this approach as opposed to alternative approaches is summarized. Three different formalizations are presented, and a variety of experimental tests is suggested.Keywords
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