Risk perception: measurement and aggregation

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F67985998%3A_____%2F25%3A00603446" target="_blank" >RIV/67985998:_____/25:00603446 - isvavai.cz</a>

Nalezeny alternativní kódy

RIV/00216208:11620/25:10490566

Výsledek na webu

<a href="https://doi.org/10.1093/jeea/jvae053" target="_blank" >https://doi.org/10.1093/jeea/jvae053</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.1093/jeea/jvae053" target="_blank" >10.1093/jeea/jvae053</a>

Jazyk výsledku

angličtina

Název v původním jazyce

Risk perception: measurement and aggregation

Popis výsledku v původním jazyce

In a model inspired by neuroscience, we study choice between lotteries as a process of encoding and decoding noisy perceptual signals. The implications of this process for behavior depend on the decision-maker’s understanding of risk. When the aggregation of perceptual signals is coarse, encoding and decoding generate behavioral risk attitudes even for vanishing perceptual noise. We show that the optimal encoding of lottery rewards is S-shaped and that low-probability events are optimally oversampled. Taken together, the model can explain adaptive-risk attitudes and probability weighting, as in prospect theory. Furthermore, it predicts that risk attitudes are influenced by the anticipation of risk, time pressure, experience, salience, and availability heuristics.

Název v anglickém jazyce

Risk perception: measurement and aggregation

Popis výsledku anglicky

In a model inspired by neuroscience, we study choice between lotteries as a process of encoding and decoding noisy perceptual signals. The implications of this process for behavior depend on the decision-maker’s understanding of risk. When the aggregation of perceptual signals is coarse, encoding and decoding generate behavioral risk attitudes even for vanishing perceptual noise. We show that the optimal encoding of lottery rewards is S-shaped and that low-probability events are optimally oversampled. Taken together, the model can explain adaptive-risk attitudes and probability weighting, as in prospect theory. Furthermore, it predicts that risk attitudes are influenced by the anticipation of risk, time pressure, experience, salience, and availability heuristics.

Druh

J_imp - Článek v periodiku v databázi Web of Science

CEP obor

—

OECD FORD obor

50201 - Economic Theory

Projekt

<a href="/cs/project/GA24-10145S" target="_blank" >GA24-10145S: Behaviorální ekonomie: teorie</a><br>

Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2025

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

Journal of the European Economic Association

ISSN

1542-4766

e-ISSN

1542-4774

Svazek periodika

23

Číslo periodika v rámci svazku

4

Stát vydavatele periodika

US - Spojené státy americké

Počet stran výsledku

41

Strana od-do

1309-1349

Kód UT WoS článku

001381461400001

EID výsledku v databázi Scopus

2-s2.0-105013249574