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Certainty Effect / Ambiguity Aversion
Storyboard

Discontinuity in subjective probability weighting (E03): a certain probability weighs disproportionately more than an uncertain probability close to 1. It includes the odds distortion ratio, which shows the characteristic "kink" near p=1 when varying the probability in the simulator.

>Model

ID:('ky', 1605)

Model Structure
Description

ID:(0, 1605)

gphysics.net - Dr. Willy H. Gerber
Palos Verdes, Costa de Corral, Región de los Rios, Chile