compareTAX: Compare choice gambles under Birnbaum's (2008) configural...

In gary-au/pt: Computational models for prospect theory and other theories of risky decision making

Description

Compare choice gambles under Birnbaum's (2008) configural weight (special) TAX theory.

Usage

compareTAX(object, prob_weight, utility, delta, digits)

## S4 method for signature 'Choices'
compareTAX(object, prob_weight, utility, delta, digits)

Arguments

object	Choices, an instance of a Choices class.
prob_weight	ProbWeight, an instance of a ProbWeight class.
utility	Utility, an instance of a Utility class.
delta	numeric, the delta parameter in Birnbaum's TAX theory.
digits	numeric, the number of digits to display in the output.

References

Birnbaum, M. H. (2008). New paradoxes of risky decision making. Psychological Review, 115(2), 463-501.

Examples

# This example creates the two Allais common consequence paradox choices,
# and computes the TAX for each gamble in the choices.

choice_ids <- c(1, 1, 1, 1, 2, 2, 2, 2)

gamble_ids <- c(1, 1, 1, 2, 1, 1, 2, 2)

outcome_ids <- c(1, 2, 3, 1, 1, 2, 1, 2)

objective_consequences <- c(2500, 2400, 0, 2400,
	2500, 0, 2400, 0)

probability_strings <- c("0.33", "0.66", "0.01", "1.0",
	"0.33", "0.67", "0.34", "0.66")

my_choices <- Choices(choice_ids=choice_ids,
	gamble_ids=gamble_ids,
	outcome_ids=outcome_ids,
	objective_consequences=objective_consequences,
	probability_strings=probability_strings)

my_choices

my_utility <- Utility(fun="linear",
	par=c(lambda=1))

power_probability_weighting <-
	ProbWeight(fun="power",
	par=c(alpha=0.7, beta=1))

compareTAX(my_choices,
	prob_weight=power_probability_weighting,
	utility=my_utility,
	delta=-1,
	digits=4)

gary-au/pt documentation built on May 16, 2019, 5:41 p.m.