Living with uncertainty: attractiveness and resolution timing

Dan P. Lovallo · Daniel J. Kahneman

121 citations0/0 files storedJournal of Behavioral Decision Making

No readable copy stored yet — this record is metadata only.

No open-access location is known for this record yet.

Literature note Cite in a project Citation map

Decision-Making and Behavioral Economics Economic and Environmental Valuation Experimental Behavioral Economics Studies

Abstract

This study extends Loewenstein's (1987) notions of savoring and dread to the domain of uncertainty. Measures of attractiveness and of willingness to delay the resolution of uncertainty were obtained for 16 two-outcome gambles with expected value of $1000 and for reflected versions of the same gambles. In both sets, the correlation between the means of the two measures was almost perfect. Positively skewed gambles were most attractive, and associated with the highest tolerance for delayed resolution. A measure of willingness to pay for early resolution showed a similar pattern. Copyright © 2000 John Wiley & Sons, Ltd.

Paper brief

Loading…

Cite this work

Citation unavailable for this work.

BibTeX RIS CSL-JSON

No public copy is stored for this record, so only the metadata is cited.

Citations in this library

Citation map →

Stored only when both papers are in the corpus — 121 citations exist upstream.

References

1979Intraclass correlations: Uses in assessing rater reliability.1997Back to Bentham? Explorations of Experienced Utility 1987Anticipation and the Valuation of Delayed Consumption 1989Discount Rates Inferred from Decisions: An Experimental Study 1997Decision Affect Theory: Emotional Reactions to the Outcomes of Risky Options 1991Decision Making Over Time and Under Uncertainty: A Common Approach 1987Expression theory and the preference reversal phenomena.1997An Empirical Study on Intertemporal Decision Making Under Risk

Cited by

2021The panic buying behavior of consumers during the COVID-19 pandemic: Examining the influences of uncertainty, perceptions of severity, perceptions of scarcity, and anxiety 2016Online self-disclosure: The privacy paradox explained as a temporally discounted balance between concerns and rewards 2017Savoring an Upcoming Experience Affects Ongoing and Remembered Consumption Enjoyment 2006Quantity versus uncertainty: When winning one prize is better than winning two 2006Errors in Creative Thought? Cognitive Biases in a Complex Processing Activity

Explore the map →

Papers that cite the same references — the relational fallback while embeddings are still backfilling.

Imported from OpenAlex (CC0) — nothing here is generated.