Changing plans: Dynamic inconsistency and the effect of experience on the reference point

@article{Barkan1999ChangingPD,
  title={Changing plans: Dynamic inconsistency and the effect of experience on the reference point},
  author={Rachel Barkan and Jerome R. Busemeyer},
  journal={Psychonomic Bulletin & Review},
  year={1999},
  volume={6},
  pages={547-554}
}
This article presents a new test of a principle of decision making calleddynamic consistency. This principle was tested in an experiment in which participants were asked to make decisions about a second gamble within a sequence of two gambles. Participants were first asked to make a planned choice about the second gamble. The planned choice was madebefore the first gamble was played and was conditioned on the anticipated outcomes of the first gamble.After the first gamble was played, the same… CONTINUE READING

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