Overall Probability of Winning Heuristic in Decisions Under Uncertainty and Ambiguity

Vinod Venkatraman, Temple University, USA
Sangsuk Yoon, Temple University, USA
Khoi Vo, Temple University, USA
We demonstrate how subtle changes in presentation formats can lead to systematic and adaptive changes in decision-making strategies and the use of overall probability of winning heuristic for decisions under uncertainty. These findings also extend to decisions under ambiguity, where probabilities are unknown and need to be learned from experience.
[ to cite ]:
Vinod Venkatraman, Sangsuk Yoon, and Khoi Vo (2015) ,"Overall Probability of Winning Heuristic in Decisions Under Uncertainty and Ambiguity", in NA - Advances in Consumer Research Volume 43, eds. Kristin Diehl and Carolyn Yoon, Duluth, MN : Association for Consumer Research, Pages: 260-264.