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Extreme outcomes and nearby neighbours
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This project represents a series of experiments on how extreme outcomes (big and small) influence risky decisions from experience. In previous work we have found that these extreme outcomes are better remembered and overeweighted in choice. The key question in this experimental sequence is whether proximity to the edge of the distribution or distinctiveness is responsible for the outsized effect o…
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Living near the edge: How extreme outcomes and their neighbours drive risky choice
Extreme stimuli are often more salient in perception and memory than moderate stimuli. In risky choice, when people learn the odds and outcomes from e...
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