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Direct linkWeber, Elke U.; Shafir, Sharoni; Blais, Ann-Renee – Psychological Review, 2004
This article examines the statistical determinants of risk preference. In a meta-analysis of animal risk preference (foraging birds and insects), the coefficient of variation (CV), a measure of risk per unit of return, predicts choices far better than outcome variance, the risk measure of normative models. In a meta-analysis of human risk…
Descriptors: Probability, Risk, Animals, Predictor Variables
