The impact of temporal context and risk on the judged value of future outcomes

Article Abstract:

The effect of temporal contexts on future outcomes was assessed. This was accomplished through studying the way subjects discounted investment returns of risky and riskless investments. Results show that contextual changes affected the scale values of test subjects. Discounting functions were found to be relative to the context. A study of college student subjects indicated that waiting for risky outcomes was preferable to waiting for certain outcomes. Temporal discounting is influenced by the temporal context of the judgments and the task used.

Psychological aspects, Decision-making, Decision making, Evaluation, Time, Context effects (Psychology)

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Assessment of probability distributions for continuous random variables: a comparison of the bisection and fixed value methods

Article Abstract:

The findings of previous studies on subject response using the direct and the bisection techniques of assessment of probability distributions are defined as unreal. A study suggests that there exists only a minimal difference in the results obtained using these two assessment procedures for continuous variables. There is also a strong indication that logarithmic scales are more effective than linear scales in depicting distribution. However, a more systemic method is necessary for designating endpoints, both in research and in practice.

Distribution (Probability theory), Probability learning

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