Please use this identifier to cite or link to this item: http://hdl.handle.net/2440/120232
Citations
Scopus Web of Science® Altmetric
?
?
Full metadata record
DC FieldValueLanguage
dc.contributor.authorLudvig, E.en
dc.contributor.authorMadan, C.en
dc.contributor.authorMcMillan, N.en
dc.contributor.authorXu, Y.en
dc.contributor.authorSpetch, M.en
dc.date.issued2018en
dc.identifier.citationJournal of Experimental Psychology: General, 2018; 147(12):1905-1918en
dc.identifier.issn0096-3445en
dc.identifier.issn1939-2222en
dc.identifier.urihttp://hdl.handle.net/2440/120232-
dc.description.abstractExtreme stimuli are often more salient in perception and memory than moderate stimuli. In risky choice, when people learn the odds and outcomes from experience, the extreme outcomes (best and worst) also stand out. This additional salience leads to more risk-seeking for relative gains than for relative losses-the opposite of what people do when queried in terms of explicit probabilities. Previous research has suggested that this pattern arises because the most extreme experienced outcomes are more prominent in memory. An important open question, however, is what makes these extreme outcomes more prominent? Here we assess whether extreme outcomes stand out because they fall at the edges of the experienced outcome distributions or because they are distinct from other outcomes. Across four experiments, proximity to the edge determined what was treated as extreme: Outcomes at or near the edge of the outcome distribution were both better remembered and more heavily weighted in choice. This prominence did not depend on two metrics of distinctiveness: lower frequency or distance from other outcomes. This finding adds to evidence from other domains that the values at the edges of a distribution have a special role.en
dc.description.statementofresponsibilityElliot A. Ludvig, Christopher R. Madan, Neil McMillan, Yaqian Xu, Marcia L. Spetchen
dc.language.isoenen
dc.publisherWolters Kluwer; American Psychological Associationen
dc.rights© 2018 American Psychological Associationen
dc.subjectRisky choice; decision making; memory; extreme outcomes; edge effectsen
dc.titleLiving near the edge: how extreme outcomes and their neighbors drive risky choiceen
dc.typeJournal articleen
dc.identifier.rmid0030117984en
dc.identifier.doi10.1037/xge0000414en
dc.identifier.pubid476344-
pubs.library.collectionPsychology publicationsen
pubs.library.teamDS14en
pubs.verification-statusVerifieden
pubs.publication-statusPublisheden
dc.identifier.orcidMcMillan, N. [0000-0003-0027-3095]en
Appears in Collections:Psychology publications

Files in This Item:
There are no files associated with this item.


Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.