vsdChoices: Create choice situations that can elicit violations of...

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

Description

Create choice situations that can elicit violations of (first-order) stochastic dominance in decision makers, using Birbaum's (1997) recipe.

Usage

vsdChoices(x, y, p, q, x_plus, y_minus, r)

Arguments

x	numeric, x is one of the objective consequences in the original binary gamble G0.
y	numeric, y is the other objective consequences in the original binary gamble G0.
p	text, p is a probability string associated with the objective consequence x.
q	text, q is a probability string associated with the objective consequence y.
x_plus	numeric, x_plus
y_minus	numeric, y_minus
r	numeric, r the g_minus probability offset

Details

Given a binary gamble G0, this function creates a pair of three outcome gambles G+ and G- and a pair of four outcome gambles GS+, GS- that can elicit vsd behaviour in decision makers. e.g.

G0 = (96, 0.9; 12, 0.1)

G+ = (12, 0.05; 14, 0.05; 96, 0.9) and G- = (12, 0.1; 90, 0.05; 96, 0.85)

where G+ dominates G0 and G- is dominated by G0.

GS+ = (12, 0.05; 14, 0.05; 96, 0.05; 96, 0.85) and GS- = (12, 0.05; 12, 0.05; 90, 0.05; 96, 0.85)

References

Figure 5, p. 475 from Birnbaum, M. H. (2008). New paradoxes of risky decision making. Psychological Review, 115(2), 463-501.

Birnbaum, M. H. (1997). Violations of monotonicity in judgment and decision making. In A. A. J. Marley (Ed.), Choice, decision, and measurement: Essays in honor of R. Duncan Luce (pp. 73-100). Mahwah, NJ: Erlbaum.

Examples

my_choices_list <- vsdChoices(x=12, y=96, p="0.1", q="0.9", x_plus=14, y_minus=90, r="0.05")

original_choice <- my_choices_list[[1]]

original_choice

pair_of_three_outcome_choices <- my_choices_list[[2]]

pair_of_three_outcome_choices

pair_of_four_outcome_choices <- my_choices_list[[3]]

pair_of_four_outcome_choices

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