An Alternative Perspective on von Winterfeldt et al.'s (1997) Test of Consequence Monotonicity

Autor/inn/en	Ho, Moon-Ho R.; Regenwetter, Michel; Niederee, Reinhard; Heyer, Dieter
Titel	An Alternative Perspective on von Winterfeldt et al.'s (1997) Test of Consequence Monotonicity
Quelle	In: Journal of Experimental Psychology: Learning, Memory, and Cognition, 31 (2005) 2, S.365-373 (9 Seiten) PDF als Volltext Verfügbarkeit
Sprache	englisch
Dokumenttyp	gedruckt; online; Zeitschriftenaufsatz
ISSN	0278-7393
Schlagwörter	Computation; Bayesian Statistics
Abstract	D. von Winterfeldt, N.-K. Chung, R. D. Luce, and Y. Cho (see record 1997-03378-008) provided several tests for consequence monotonicity of choice or judgment, using certainty equivalents of gambles. The authors reaxiomatized consequence monotonicity in a probabilistic framework and reanalyzed von Winterfeldt et al.'s main experiment via a bootstrap method. Their application offers new insights into consequence monotonicity as well as into von Winterfeldt et al.'s 3 experimental paradigms: judged certainty equivalents (JCE), QUICKINDIFF, and parameter estimation by sequential testing (PEST). For QUICKINDIFF, the authors found no indication of violations of "random consequence monotonicity." This sharply contrasts the findings of von Winterfeldt et al., who concluded that axiom violations were the most pronounced under that procedure. The authors found potential evidence for violations in JCE and certainty equivalents derived from PEST. (Author).
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Update	2017/4/10