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Why use real and hypothetical payoffs?

  • Anton Kühberger (a1)
    • Published online: 06 November 2001
Abstract

Decision making can be studied using hypothetical payoffs because it is hypothetical to its very core. However, the core process can be influenced by contextual features. As there is no theory for these contextual features, a “do-it-both-ways” rule amounts to a waste of money. If we had such a theory, doing it both ways would be unnecessary.

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Behavioral and Brain Sciences
  • ISSN: 0140-525X
  • EISSN: 1469-1825
  • URL: /core/journals/behavioral-and-brain-sciences
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