Abstract
Studied subjective risk by asking 10 undergraduates to rate the riskiness of 2 sets of gambles. Both sets allowed independent assessment of the effect of a gamble's expected payoff (mean), its skewness, and its scalefactor. Results of functional and polynomial conjoint measurement techniques show that all 3 variables had significant mean effects. For 6 of 18 data sets analyzed, a combination rule that was multiplicative for the variables mean and skewness and additive for scale could be fit. Six additional data sets could be fit by a combination rule multiplicative in all 3 factors. In the remaining 6 data sets simple independence was violated for skewness and/or scale, indicating that more complex combinations of these variables than were considered might have been applied. It is suggested that conjoint and functional techniques should be used in a complementary way. (38 ref) (PsycINFO Database Record (c) 2006 APA, all rights reserved).
Original language | English (US) |
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Pages (from-to) | 179-194 |
Number of pages | 16 |
Journal | Journal of Experimental Psychology: Human Perception and Performance |
Volume | 10 |
Issue number | 2 |
DOIs | |
State | Published - Apr 1984 |
Externally published | Yes |
All Science Journal Classification (ASJC) codes
- Experimental and Cognitive Psychology
- Arts and Humanities (miscellaneous)
- Behavioral Neuroscience
Keywords
- conjoint vs functional techniques, measurement of riskiness of gambles, college students