This article reviews recent developments in the economic theory of individual decision
making under risk. Since the 1950s it has been known that individual choices violate the …

Highlights•Humans and animals seek information about uncertain future
rewards.•Information is valued for resolving uncertainty and signaling desirable …

Prospect Theory: For Risk and Ambiguity, provides a comprehensive and accessible
textbook treatment of the way decisions are made both when we have the statistical …

Prospect theory's S-shaped weighting function is often said to reflect the psychophysics of
chance. We propose an affective rather than psychophysical deconstruction of the weighting …

This research investigated the relationship between the magnitude or scope of a stimulus
and its subjective value by contrasting 2 psychological processes that may be used to …

The desire to know what the future holds is a powerful motivator in everyday life, but it is
unknown how this desire is created by neurons in the brain. Here we show that when …

This path-breaking text constructs a new way of thinking about social work based on
contemporary social theory. Working in a counter-tradition that is suspicious of a number of …

We analyze risk preferences using an experiment with real incentives in a representative
sample of 1,422 Dutch respondents. Our econometric model incorporates four structural …

Adaptive information seeking is critical for goal-directed behavior. Growing evidence
suggests the importance of intrinsic motives such as curiosity or need for novelty, mediated …

Seven studies covering diverse contexts show an underappreciated benefit of teasing in
information acquisition: first creating and then resolving an uncertainty can generate a net …