Construct · 1 fields · 1 citations

risk-reward heuristic: a standalone construct

One name. One construct. A landmark on the map.

● anchor · a standalone construct Nearest construct by meaning·not indexed
risk-rewardheuristic1 CONSTRUCTRisk-reward heuristicPLESKAC · JUDGMENT AND

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Judgment and decision making

inferring the unknown probability of an outcome from its payoff size, because in many environments large rewards come with small chances.

In judgment and decision making, risk-reward heuristic refers to inferring the unknown probability of an outcome from its payoff size, because in many environments large rewards come with small chances. This meaning comes from Pleskac (2014) in Journal of Experimental Psychology: General.[1]

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Nearby constructs

heuristic4 fields · 4 citationsjingle · one word, four constructsjudgment2 fields · 4 citationsjingle · one word, two constructssize1 fields · 1 citationsanchor · a standalone construct

References

  1. Pleskac, T. J., & Hertwig, R. (2014). Ecologically rational choice and the structure of the environment. Journal of Experimental Psychology: General, 143(5), 2000-2019. https://doi.org/10.1037/xge0000013

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