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We have operationalized the gamble as follows: the students were asked to choose between two alternatives A and B. Alternative A is to stay in the current state of health (with the current stress level) with certainty.
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A ratio, or relative difference, of 1.1 between two alternatives implies a 10% multiplicative difference with respect to how the alternatives meet a given objective at the next level above in the hierarchy.
In psychology, marketing research and sensory analysis paired comparisons which demand judges to evaluate the trade-off between two alternatives constitute a popular method of data collection.
In an experiment conducted by Nachev et al. [86], subjects were asked to either follow a specific movement plan or to choose freely between two alternatives in an oculomotor change-of-plan task.
The decoy effect occurs when preferences between two alternatives reverse as a result of the manipulation of a third alternative (i.e., a decoy) such that it is dominated by only one of the two original alternatives.
Naïve apes may take dozens of trials (if not more) to master a seemingly easy task such as choosing between two alternatives presented on a platform (Spence 1937; Jarvik 1953; Rumbaugh and Rice 1962; Davis and Markowitz 1978).
In SG, respondents are given the choice between two alternatives; one being a health state with certainty and the other being a gamble with two possible outcomes that involve two different health states with particular probabilities attached to each of them.
Because both the standard gamble and the time-tradeoff exercises involve choices between two alternatives that involve a chance of death or longevity, we believed it was unethical to ask parents to participate in such exercises when children were the subjects.
If it cannot reach a diplomatic deal, America will face a choice between two alternatives: using force to prevent Iran from acquiring a nuclear arsenal or containing a nuclear Iran until its regime collapses from its own dysfunction.
Here we present a normative model of decisions between two alternatives that provides such an account.
17 The students were asked to state probability p* that indicates indifference between the two alternatives A and B. We then used p* to interpret the utility level of the current state of health.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com