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Category: Hypothesis

Description: We investigate the impact of individual differences in risk-style and thinking-style on choice option characteristics in Tversky and Kahneman's famous Unusual Disease problem setting with a psychophysical data collection approach. In addition to gain-loss frames, we systematically varied the number of affected people, probabilities of surviving/dying, and type of disease. The experiment was designed as an online study combining a social science approach with psychophysical elements, i.e., 80 trials per person.