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	Consumer choices under small probabilities: Overweighting or underweighting?
	Chen, R ; Jia, J
	2010-05-11 ; 2010-05-11
关键词	small probability overweighting consumer choice PARAMETER-FREE ELICITATION WEIGHTING FUNCTION PREFERENCE REVERSALS DECISION WEIGHTS REFERENCE PRICE PROSPECT-THEORY LOSS AVERSION UNCERTAINTY RISK ATTRIBUTES Business
中文摘要	This article provides a theoretical account and identifies boundary conditions for the common beliefs about the "overweighting of small probabilities". Based on four studies, our results suggest that the weighting of probabilities is context-dependent. When the contrast in value is reduced or not presented in a decision problem, small probabilities are less likely to be overweighted. In addition, as the associated payoffs increase, the weights on small probabilities tend to diminish or even to be "underweighted". However, there is an "interpersonal difference" in the weighting of probabilities which reflects the particular circumstances of individuals, including their wealth status. Some implications of small probabilities for marketing practices are also investigated and discussed.
语种	英语 ; 英语
出版者	SPRINGER ; DORDRECHT ; VAN GODEWIJCKSTRAAT 30, 3311 GZ DORDRECHT, NETHERLANDS
内容类型	期刊论文
源URL	[http://hdl.handle.net/123456789/26180]
专题	清华大学
推荐引用方式 GB/T 7714	Chen, R,Jia, J. Consumer choices under small probabilities: Overweighting or underweighting?[J],2010, 2010.
APA	Chen, R,&Jia, J.(2010).Consumer choices under small probabilities: Overweighting or underweighting?..
MLA	Chen, R,et al."Consumer choices under small probabilities: Overweighting or underweighting?".(2010).

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